Fluor Co. (NEW) (NYSE:FLR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $54.00 price target on the construction company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.55% from the stock’s current price.
According to Zacks, “Fluor’s leading position in nuclear remediation at government facilities bodes well for its future growth. Its market diversity as well as strong focus on streamlining business structure to boost profitability is expected to boost growth, going forward. Notably, the company’s leading position in nuclear remediation at government facilities bodes well for its future growth. Also, stabilizing commodity prices and gradual improvement in energy and mining sectors are anticipated to unlock further opportunities for growth. However, over the past three months, the company’s shares have underperformed the industry. Also, the company is suffering from below-par performance in Mining, Industrial, Infrastructure & Power and Energy & Chemicals businesses. Over the past few quarters, Fluor has been witnessing continuous backlog erosion as well, which adds to its concerns.”
Get Fluor Co. (NEW) alerts:Other research analysts also recently issued research reports about the stock. Bank of America upgraded shares of Fluor Co. (NEW) from an “underperform” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Wednesday, May 9th. Citigroup set a $69.00 price target on shares of Fluor Co. (NEW) and gave the stock a “buy” rating in a research report on Friday, May 4th. TheStreet downgraded shares of Fluor Co. (NEW) from a “b” rating to a “c” rating in a research report on Thursday, May 3rd. ValuEngine upgraded shares of Fluor Co. (NEW) from a “sell” rating to a “hold” rating in a research report on Thursday, May 17th. Finally, Barclays set a $60.00 price target on shares of Fluor Co. (NEW) and gave the stock a “hold” rating in a research report on Thursday, May 3rd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $53.32.
Shares of Fluor Co. (NEW) traded down $0.18, hitting $48.41, during midday trading on Wednesday, MarketBeat.com reports. 417,250 shares of the company traded hands, compared to its average volume of 1,194,396. The firm has a market capitalization of $6.83 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 0.74 and a beta of 1.39. The company has a current ratio of 1.40, a quick ratio of 1.01 and a debt-to-equity ratio of 0.51. Fluor Co. has a 12 month low of $37.03 and a 12 month high of $62.09.
Fluor Co. (NEW) (NYSE:FLR) last announced its quarterly earnings results on Thursday, May 3rd. The construction company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.25). Fluor Co. (NEW) had a net margin of 0.58% and a return on equity of 11.08%. The company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.69 billion. During the same period last year, the firm posted $0.43 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. research analysts anticipate that Fluor Co. will post 2.88 earnings per share for the current year.
In other news, Director Peter J. Fluor bought 50,000 shares of Fluor Co. (NEW) stock in a transaction dated Tuesday, May 8th. The stock was purchased at an average price of $44.54 per share, for a total transaction of $2,227,000.00. Following the purchase, the director now directly owns 141,120 shares in the company, valued at approximately $6,285,484.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Allianz Asset Management GmbH lifted its holdings in Fluor Co. (NEW) by 0.5% during the first quarter. Allianz Asset Management GmbH now owns 1,034,793 shares of the construction company’s stock valued at $59,210,000 after purchasing an additional 5,100 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in Fluor Co. (NEW) by 25.0% during the first quarter. Summit Trail Advisors LLC now owns 18,791 shares of the construction company’s stock valued at $537,000 after purchasing an additional 3,754 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Fluor Co. (NEW) by 1.6% during the first quarter. Principal Financial Group Inc. now owns 215,669 shares of the construction company’s stock valued at $12,340,000 after purchasing an additional 3,437 shares during the last quarter. Atlantic Trust Group LLC lifted its holdings in Fluor Co. (NEW) by 16,314.1% during the first quarter. Atlantic Trust Group LLC now owns 10,505 shares of the construction company’s stock valued at $601,000 after purchasing an additional 10,441 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Fluor Co. (NEW) by 147.3% during the first quarter. Millennium Management LLC now owns 474,609 shares of the construction company’s stock valued at $27,157,000 after purchasing an additional 282,699 shares during the last quarter. Institutional investors own 89.54% of the company’s stock.
About Fluor Co. (NEW)
Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project management services worldwide. It operates through four segments: Energy, Chemicals & Mining; Industrial, Infrastructure & Power; Diversified Services; and Government.
Get a free copy of the Zacks research report on Fluor Co. (NEW) (FLR)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
No comments:
Post a Comment