Fluor Co. (NEW) (FLR) Updates FY 2019 Earnings Guidance

Fluor Co. (NEW) (NYSE:FLR) updated its FY 2019 earnings guidance on Thursday. The company provided earnings per share guidance of $2.50-3.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.97. Fluor Co. (NEW) also updated its FY19 guidance to $2.50-3.00 EPS.

A number of research firms have recently issued reports on FLR. Zacks Investment Research cut Fluor Co. (NEW) from a hold rating to a sell rating in a report on Thursday, January 3rd. Credit Suisse Group reiterated a buy rating and issued a $56.00 price objective on shares of Fluor Co. (NEW) in a report on Monday, February 11th. TheStreet cut Fluor Co. (NEW) from a b- rating to a c rating in a report on Thursday, November 1st. ValuEngine cut Fluor Co. (NEW) from a sell rating to a strong sell rating in a report on Tuesday, February 5th. Finally, Goldman Sachs Group cut Fluor Co. (NEW) from a conviction-buy rating to a buy rating and dropped their target price for the company from $59.00 to $44.00 in a report on Wednesday, December 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $55.36.

FLR stock traded up $0.12 during trading on Thursday, hitting $37.82. 2,938,947 shares of the company traded hands, compared to its average volume of 1,986,844. The stock has a market capitalization of $5.20 billion, a PE ratio of 23.20, a P/E/G ratio of 0.57 and a beta of 1.75. Fluor Co. has a 1 year low of $29.78 and a 1 year high of $62.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.52 and a quick ratio of 1.12.

Fluor Co. (NEW) (NYSE:FLR) last issued its earnings results on Thursday, February 21st. The construction company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.16. The company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.86 billion. Fluor Co. (NEW) had a return on equity of 11.31% and a net margin of 1.21%. Fluor Co. (NEW)’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 EPS. Analysts anticipate that Fluor Co. will post 2.54 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Friday, March 1st. Fluor Co. (NEW)’s payout ratio is 51.53%.

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About Fluor Co. (NEW)

Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project management services worldwide. The company's Energy & Chemicals segment offers a range of design, engineering, procurement, construction, fabrication, and project management services in the upstream, midstream, downstream, chemical, petrochemical, offshore and onshore oil and gas production, liquefied natural gas and pipeline markets.

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