Fluor Co. (NEW) (NYSE:FLR) Shares Gap Down to $17.11

Fluor Co. (NEW) (NYSE:FLR)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $17.56, but opened at $17.11. Fluor Co. (NEW) shares last traded at $16.66, with a volume of 2,513,010 shares traded.

Several analysts recently weighed in on FLR shares. UBS Group dropped their price objective on Fluor Co. (NEW) from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Deutsche Bank set a $17.00 price objective on Fluor Co. (NEW) and gave the company a “hold” rating in a research note on Friday, November 1st. Canaccord Genuity upgraded Fluor Co. (NEW) from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Thursday, August 22nd. ValuEngine downgraded Fluor Co. (NEW) from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Credit Suisse Group dropped their target price on shares of Fluor Co. (NEW) from $31.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $27.50.

The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.12 and a current ratio of 1.38. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 7.75 and a beta of 2.21. The company has a fifty day moving average of $18.50 and a two-hundred day moving average of $23.53.

Fluor Co. (NEW) (NYSE:FLR) last issued its earnings results on Thursday, October 31st. The construction company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.33. Fluor Co. (NEW) had a positive return on equity of 8.94% and a negative net margin of 7.66%. The business had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $4.69 billion. Equities analysts expect that Fluor Co. will post 1.04 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Tuesday, December 3rd. Fluor Co. (NEW)’s payout ratio is 39.07%.

Several large investors have recently added to or reduced their stakes in FLR. TRUE Private Wealth Advisors bought a new position in Fluor Co. (NEW) in the 2nd quarter valued at approximately $35,000. Skandinaviska Enskilda Banken AB publ bought a new stake in Fluor Co. (NEW) during the 2nd quarter worth approximately $64,000. Coastal Investment Advisors Inc. grew its holdings in Fluor Co. (NEW) by 674.0% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,904 shares of the construction company’s stock worth $65,000 after acquiring an additional 1,658 shares during the last quarter. Synovus Financial Corp increased its position in Fluor Co. (NEW) by 87.0% in the 2nd quarter. Synovus Financial Corp now owns 2,150 shares of the construction company’s stock valued at $72,000 after acquiring an additional 1,000 shares during the period. Finally, Quadrant Capital Group LLC increased its position in Fluor Co. (NEW) by 126.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,485 shares of the construction company’s stock valued at $45,000 after acquiring an additional 1,390 shares during the period. Institutional investors own 81.25% of the company’s stock.

Fluor Co. (NEW) Company Profile (NYSE:FLR)

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.

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