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

Fluor Co. (NYSE:FLR) – Investment analysts at DA Davidson dropped their FY2024 EPS estimates for Fluor in a report released on Tuesday, November 12th. DA Davidson analyst B. Thielman now expects that the construction company will earn $2.64 per share for the year, down from their prior estimate of $2.90. DA Davidson currently has a “Buy” rating and a $65.00 price target on the stock. The consensus estimate for Fluor’s current full-year earnings is $2.61 per share.

A number of other research analysts also recently commented on the company. Robert W. Baird increased their target price on Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Truist Financial lifted their price objective on shares of Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Barclays upped their target price on shares of Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. KeyCorp lifted their price target on Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, UBS Group raised their price objective on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Fluor presently has an average rating of “Moderate Buy” and a consensus price target of $60.29.

Fluor Price Performance

Shares of Fluor stock opened at $50.82 on Thursday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. Fluor has a 12 month low of $35.04 and a 12 month high of $60.10. The stock has a 50 day moving average of $49.98 and a 200 day moving average of $46.65. The firm has a market cap of $8.72 billion, a PE ratio of 33.88, a PEG ratio of 2.32 and a beta of 1.90.

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

Institutional Trading of Fluor

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC lifted its holdings in Fluor by 143.4% during the 1st quarter. SG Americas Securities LLC now owns 11,297 shares of the construction company’s stock valued at $478,000 after buying an additional 6,655 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Fluor by 19.1% in the first quarter. Swiss National Bank now owns 336,400 shares of the construction company’s stock valued at $14,223,000 after purchasing an additional 53,900 shares during the period. Russell Investments Group Ltd. grew its stake in Fluor by 19.8% in the first quarter. Russell Investments Group Ltd. now owns 226,306 shares of the construction company’s stock worth $9,568,000 after purchasing an additional 37,435 shares in the last quarter. ProShare Advisors LLC increased its holdings in Fluor by 4.2% during the 1st quarter. ProShare Advisors LLC now owns 33,955 shares of the construction company’s stock worth $1,436,000 after purchasing an additional 1,369 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in Fluor by 12.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 45,644 shares of the construction company’s stock valued at $1,930,000 after purchasing an additional 4,910 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Fluor news, CFO Joseph L. Brennan sold 15,335 shares of the company’s stock in a transaction on Friday, September 20th. The stock was 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 of the company’s stock, valued at $2,751,163.38. This represents a 20.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 31,261 shares of company stock valued at $1,528,574 in the last ninety days. 1.70% of the stock is 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.