Fluor (NYSE:FLR) Price Target Raised to $47.00

Fluor (NYSE:FLR) had its target price raised by Citigroup from $45.00 to $47.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

A number of other equities research analysts have also recently issued reports on FLR. Truist Financial reaffirmed a buy rating and issued a $46.00 price objective on shares of Fluor in a research note on Monday, March 25th. TheStreet cut shares of Fluor from a b- rating to a c rating in a research note on Wednesday, February 21st. Finally, KeyCorp assumed coverage on shares of Fluor in a research note on Wednesday, January 10th. They issued a sector weight rating for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Fluor has a consensus rating of Hold and a consensus target price of $43.17.

Fluor Price Performance

Shares of NYSE:FLR opened at $40.29 on Monday. The company’s fifty day moving average price is $39.51 and its 200-day moving average price is $38.23. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of 71.95, a PEG ratio of 3.13 and a beta of 2.12. Fluor has a one year low of $25.69 and a one year high of $43.24. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.60 and a quick ratio of 1.60.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Tuesday, February 20th. The construction company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.11. Fluor had a net margin of 0.90% and a return on equity of 24.25%. The firm had revenue of $3.82 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the prior year, the firm earned $0.43 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that Fluor will post 2.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fluor

Several institutional investors have recently added to or reduced their stakes in the company. Cornercap Investment Counsel Inc. raised its holdings in Fluor by 2.4% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 14,039 shares of the construction company’s stock worth $550,000 after purchasing an additional 326 shares in the last quarter. Parallel Advisors LLC raised its holdings in Fluor by 19.6% in the 4th quarter. Parallel Advisors LLC now owns 2,053 shares of the construction company’s stock worth $80,000 after purchasing an additional 337 shares in the last quarter. Fifth Third Bancorp raised its holdings in Fluor by 32.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,505 shares of the construction company’s stock worth $55,000 after purchasing an additional 371 shares in the last quarter. Spire Wealth Management raised its holdings in Fluor by 59.2% in the 4th quarter. Spire Wealth Management now owns 1,008 shares of the construction company’s stock worth $37,000 after purchasing an additional 375 shares in the last quarter. Finally, Strs Ohio raised its holdings in Fluor by 3.1% in the 4th quarter. Strs Ohio now owns 16,600 shares of the construction company’s stock worth $650,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Company Profile

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.