DA Davidson Lowers Fluor Co. (NEW) (NYSE:FLR) Price Target to $32.00

Fluor Co. (NEW) (NYSE:FLR) had its price target decreased by DA Davidson to $32.00 in a report issued on Tuesday, May 7th, The Fly reports. DA Davidson currently has a neutral rating on the construction company’s stock. DA Davidson also issued estimates for Fluor Co. (NEW)’s Q2 2019 earnings at $0.46 EPS and Q4 2019 earnings at $0.68 EPS.

FLR has been the topic of several other reports. Macquarie upgraded shares of Fluor Co. (NEW) from a neutral rating to an outperform rating in a report on Friday, May 3rd. MKM Partners reiterated a neutral rating and set a $39.00 target price on shares of Fluor Co. (NEW) in a report on Tuesday, January 8th. Goldman Sachs Group cut shares of Fluor Co. (NEW) from a buy rating to a neutral rating and dropped their target price for the stock from $44.00 to $28.00 in a report on Tuesday, May 7th. Citigroup dropped their target price on shares of Fluor Co. (NEW) from $56.00 to $37.00 and set a buy rating on the stock in a report on Friday, May 3rd. Finally, Credit Suisse Group reiterated a buy rating and set a $56.00 target price on shares of Fluor Co. (NEW) in a report on Monday, February 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $46.45.

FLR stock remained flat at $$28.76 during trading on Tuesday. 3,085,314 shares of the company traded hands, compared to its average volume of 3,335,160. The stock has a market cap of $3.99 billion, a P/E ratio of 13.38, a PEG ratio of 1.32 and a beta of 1.77. Fluor Co. has a 52 week low of $28.00 and a 52 week high of $60.60. The company has a quick ratio of 1.04, a current ratio of 1.49 and a debt-to-equity ratio of 0.53.

Fluor Co. (NEW) (NYSE:FLR) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.68). The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Fluor Co. (NEW) had a return on equity of 8.90% and a net margin of 0.99%. The company’s quarterly revenue was down 13.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.56 EPS. As a group, analysts predict that Fluor Co. will post 1.66 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 3rd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Friday, May 31st. Fluor Co. (NEW)’s dividend payout ratio (DPR) is presently 39.07%.

In other Fluor Co. (NEW) news, insider Ray F. Barnard sold 7,515 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $37.57, for a total transaction of $282,338.55. Following the completion of the transaction, the insider now directly owns 86,572 shares of the company’s stock, valued at approximately $3,252,510.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Carlos M. Hernandez purchased 17,001 shares of Fluor Co. (NEW) stock in a transaction on Monday, May 13th. The shares were acquired at an average cost of $29.52 per share, with a total value of $501,869.52. The disclosure for this purchase can be found here. Insiders sold a total of 13,570 shares of company stock valued at $506,670 over the last quarter. 1.40% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. First Hawaiian Bank increased its holdings in shares of Fluor Co. (NEW) by 8.2% during the 4th quarter. First Hawaiian Bank now owns 3,948 shares of the construction company’s stock valued at $127,000 after purchasing an additional 300 shares in the last quarter. First Manhattan Co. increased its holdings in shares of Fluor Co. (NEW) by 51.2% during the 1st quarter. First Manhattan Co. now owns 909 shares of the construction company’s stock valued at $33,000 after purchasing an additional 308 shares in the last quarter. Utah Retirement Systems increased its holdings in shares of Fluor Co. (NEW) by 1.4% during the 1st quarter. Utah Retirement Systems now owns 26,442 shares of the construction company’s stock valued at $973,000 after purchasing an additional 356 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Fluor Co. (NEW) by 34.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,498 shares of the construction company’s stock valued at $55,000 after purchasing an additional 381 shares in the last quarter. Finally, Rehmann Capital Advisory Group increased its holdings in shares of Fluor Co. (NEW) by 133.2% during the 1st quarter. Rehmann Capital Advisory Group now owns 730 shares of the construction company’s stock valued at $27,000 after purchasing an additional 417 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

Fluor Co. (NEW) Company Profile

Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, operation, maintenance and asset integrity, and project management services worldwide. It operates through four segments: Energy & Chemicals; Mining, Industrial, Infrastructure & Power; Diversified Services; and Government.

Read More: What is Cost of Debt?

The Fly

Analyst Recommendations for Fluor Co. (NEW) (NYSE:FLR)

Receive News & Ratings for Fluor Co. (NEW) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fluor Co. (NEW) and related companies with MarketBeat.com's FREE daily email newsletter.