Fluor (NYSE:FLR) Releases Quarterly Earnings Results, Beats Estimates By $0.24 EPS

Fluor (NYSE:FLR) announced its quarterly earnings data on Friday. The construction company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.24, Zacks reports. The company had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $4.20 billion. Fluor had a return on equity of 9.27% and a net margin of 25.35%.Fluor’s revenue for the quarter was down 17.7% compared to the same quarter last year. During the same period last year, the firm posted $0.51 EPS. Fluor updated its FY 2025 guidance to 2.100-2.250 EPS.

Fluor Stock Up 2.7%

FLR stock traded up $1.18 during midday trading on Friday, hitting $45.76. The company’s stock had a trading volume of 7,925,161 shares, compared to its average volume of 3,659,768. The firm’s 50-day moving average is $44.62 and its 200-day moving average is $44.79. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.18. Fluor has a 12 month low of $29.20 and a 12 month high of $57.50. The company has a market cap of $7.40 billion, a PE ratio of 1.89 and a beta of 1.59.

Analyst Upgrades and Downgrades

FLR has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fluor in a research note on Tuesday, October 14th. Zacks Research upgraded Fluor from a “strong sell” rating to a “hold” rating in a report on Friday, October 3rd. Citigroup decreased their price objective on shares of Fluor from $71.00 to $57.00 and set a “buy” rating for the company in a report on Monday, August 4th. Truist Financial lowered their target price on Fluor from $52.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Finally, Robert W. Baird lowered their price target on shares of Fluor from $55.00 to $46.00 and set a “neutral” rating for the company in a research report on Monday, August 4th. Four research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $49.43.

Hedge Funds Weigh In On Fluor

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rubric Capital Management LP purchased a new stake in Fluor during the second quarter valued at $205,080,000. Sourcerock Group LLC purchased a new stake in Fluor in the second quarter worth about $85,327,000. Balyasny Asset Management L.P. raised its stake in shares of Fluor by 90.9% in the second quarter. Balyasny Asset Management L.P. now owns 1,586,492 shares of the construction company’s stock worth $81,339,000 after buying an additional 755,337 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Fluor by 361.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,507,442 shares of the construction company’s stock valued at $77,289,000 after buying an additional 1,180,838 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of Fluor by 12.6% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 500,000 shares of the construction company’s stock valued at $25,635,000 after acquiring an additional 56,000 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

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.