Truist Financial Issues Pessimistic Forecast for Fluor (NYSE:FLR) Stock Price

Fluor (NYSE:FLR) had its price objective decreased by equities research analysts at Truist Financial from $60.00 to $45.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Truist Financial’s target price indicates a potential upside of 29.50% from the stock’s previous close.

Several other research firms have also recently weighed in on FLR. DA Davidson dropped their price objective on shares of Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Citigroup dropped their price objective on shares of Fluor from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Robert W. Baird dropped their price objective on shares of Fluor from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Baird R W cut shares of Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, StockNews.com upgraded shares of Fluor from a “hold” rating to a “buy” rating in a research report on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Fluor has a consensus rating of “Moderate Buy” and an average target price of $49.43.

Fluor Stock Performance

NYSE:FLR opened at $34.75 on Tuesday. Fluor has a 1 year low of $29.20 and a 1 year high of $60.10. The firm has a 50 day moving average of $38.68 and a 200-day moving average of $47.21. The company has a current ratio of 1.69, a quick ratio of 1.77 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $5.84 billion, a P/E ratio of 2.85, a price-to-earnings-growth ratio of 1.36 and a beta of 1.66.

Fluor (NYSE:FLR) last posted its earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.30). Fluor had a net margin of 13.14% and a return on equity of 15.14%. The firm had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.42 billion. As a group, sell-side analysts anticipate that Fluor will post 2.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Fluor

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors boosted its stake in shares of Fluor by 1.8% during the 3rd quarter. Captrust Financial Advisors now owns 18,666 shares of the construction company’s stock worth $891,000 after buying an additional 329 shares during the last quarter. Centiva Capital LP acquired a new position in shares of Fluor during the 3rd quarter worth about $426,000. HighTower Advisors LLC boosted its stake in shares of Fluor by 4.1% during the 3rd quarter. HighTower Advisors LLC now owns 33,922 shares of the construction company’s stock worth $1,618,000 after buying an additional 1,324 shares during the last quarter. Quarry LP boosted its stake in shares of Fluor by 244.7% during the 3rd quarter. Quarry LP now owns 1,327 shares of the construction company’s stock worth $63,000 after buying an additional 942 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of Fluor during the 3rd quarter worth about $221,000. 88.07% of the stock is owned by institutional investors and hedge funds.

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.