Fluor (NYSE:FLR) Shares Gap Down After Earnings Miss

Shares of Fluor Co. (NYSE:FLR) gapped down prior to trading on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $41.24, but opened at $39.13. Fluor shares last traded at $39.13, with a volume of 1,255,173 shares changing hands.

The construction company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.07). Fluor had a return on equity of 24.25% and a net margin of 0.90%. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the previous year, the business posted $0.28 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FLR shares. KeyCorp began coverage on shares of Fluor in a report on Wednesday, January 10th. They set a “sector weight” rating for the company. Citigroup boosted their target price on shares of Fluor from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. Truist Financial reiterated a “buy” rating and set a $46.00 target price on shares of Fluor in a research report on Monday, March 25th. Finally, TheStreet downgraded shares of Fluor from a “b-” rating to a “c” rating in a research report on Wednesday, February 21st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.17.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FLR. Vanguard Group Inc. raised its holdings in Fluor by 18.6% during the fourth quarter. Vanguard Group Inc. now owns 17,060,956 shares of the construction company’s stock worth $668,278,000 after buying an additional 2,670,473 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Fluor in the 4th quarter worth $26,918,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in Fluor by 3,488.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 609,400 shares of the construction company’s stock valued at $22,365,000 after buying an additional 592,418 shares during the period. Nomura Holdings Inc. bought a new position in Fluor during the third quarter valued at about $12,724,000. Finally, King Luther Capital Management Corp grew its position in Fluor by 84.2% during the fourth quarter. King Luther Capital Management Corp now owns 637,150 shares of the construction company’s stock valued at $24,957,000 after buying an additional 291,210 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Fluor Stock Performance

The company has a market cap of $6.62 billion, a P/E ratio of 69.46, a price-to-earnings-growth ratio of 3.27 and a beta of 2.11. The company’s 50-day moving average is $39.73 and its two-hundred day moving average is $38.40. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.56.

About Fluor

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. The company operates through Energy Solutions, Urban Solutions, Mission Solutions, and Other segments. The Energy Solutions segment provides solutions to the energy transition markets, including asset decarbonization, carbon capture, renewable fuels, waste-to-energy, green chemicals, hydrogen, nuclear power, and other low-carbon energy sources.