What is DA Davidson’s Forecast for Fluor FY2024 Earnings?

Fluor Co. (NYSE:FLR) – Analysts at DA Davidson dropped their FY2024 earnings per share estimates for Fluor in a report issued on Tuesday, November 12th. DA Davidson analyst B. Thielman now forecasts that the construction company will post earnings of $2.64 per share for the year, down from their previous estimate of $2.90. DA Davidson has a “Buy” rating and a $65.00 price target on the stock. The consensus estimate for Fluor’s current full-year earnings is $2.62 per share.

A number of other analysts have also commented on FLR. KeyCorp increased their price objective on Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Truist Financial boosted their price objective on shares of Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. UBS Group raised their target price on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Citigroup upgraded Fluor from a “neutral” rating to a “buy” rating and boosted their price target for the company from $52.00 to $65.00 in a report on Tuesday, October 22nd. Finally, Robert W. Baird lifted their price objective on Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.29.

Fluor Trading Up 2.2 %

Shares of Fluor stock opened at $51.93 on Thursday. The business has a 50 day moving average price of $50.14 and a 200 day moving average price of $46.73. The company has a market capitalization of $8.91 billion, a P/E ratio of 34.62, a P/E/G ratio of 3.93 and a beta of 1.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77. Fluor has a 1 year low of $35.04 and a 1 year high of $60.10.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). Fluor had a net margin of 1.64% and a return on equity of 20.05%. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same period in the previous year, the company posted $1.02 earnings per share. Fluor’s revenue was up 3.3% on a year-over-year basis.

Institutional Investors Weigh In On Fluor

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Fluor by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 17,112,278 shares of the construction company’s stock worth $723,507,000 after purchasing an additional 51,322 shares during the period. Rubric Capital Management LP boosted its position in shares of Fluor by 23.6% in the second quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock worth $139,992,000 after buying an additional 614,521 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Fluor by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock valued at $110,930,000 after buying an additional 323,111 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Fluor by 27.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock valued at $100,092,000 after buying an additional 457,220 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in Fluor by 0.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,004,775 shares of the construction company’s stock worth $95,648,000 after acquiring an additional 9,789 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Joseph L. Brennan sold 15,335 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $47.57, for a total value of $729,485.95. Following the transaction, the chief financial officer now owns 57,834 shares in the company, valued at approximately $2,751,163.38. This trade represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 31,261 shares of company stock valued at $1,528,574. 1.70% of the stock is currently owned by company insiders.

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.