Fluor Corporation's Upcoming Earnings Announcement
Fluor Corporation (NYSE:FLR) is gearing up to release its earnings results for the upcoming third quarter. Investors are eagerly awaiting this announcement, which is set to occur prior to the market opening.
Analysts' Expectations
Analysts are projecting that Fluor will report earnings of 45 cents per share for the quarter, a decline from 51 cents per share reported in the same quarter last year. Revenue is expected to reach approximately $4.2 billion, a slight increase compared to last year's $4.09 billion.
Recent Performance Review
In its latest report released on August 1, Fluor missed analyst expectations, prompting a revision of its projected adjusted earnings per share guidance for the full fiscal year. The disappointing numbers may have affected investor confidence, as Fluor's shares experienced a significant drop, closing at $44.58 just prior to this earnings announcement.
What Analysts Are Saying
As market experts reassess their positions, several analysts have shared their ratings and price targets for Fluor’s stock:
- Jamie Cook from Truist Securities maintains a Buy rating but has reduced the price target from $52 to $51, relying on a solid accuracy rate of 72%.
- UBS’ Steven Fisher also upholds a Buy rating while slashing the target from $60 to $56, supported by an accuracy of 73%.
- Citigroup's Andrew Kaplowitz continues to endorse a Buy stance but has cut the price target from $71 to $57, boasting an impressive accuracy rate of 84%.
- Andrew Wittmann of Baird holds a Neutral rating and has lowered the price target from $55 to $46, reflecting an accuracy rate of 78%.
- Keybanc analyst Sangita Jain has downgraded the stock from Overweight to Equal-Weight with a new price target of $41, showing a 74% accuracy rate.
Considering the Investment
If you are contemplating investing in FLR stock, experts have a range of opinions. Understanding these insights could be crucial for making an informed decision as Fluor navigates changing circumstances in the industry.
Frequently Asked Questions
What are the anticipated earnings for Fluor Corporation?
Fluor is expected to report earnings of 45 cents per share, which is a decline from last year’s earnings of 51 cents per share.
How has Fluor's stock performed recently?
Fluor's shares fell 6% to close at $44.58 in anticipation of the upcoming earnings report.
What are analysts saying about Fluor's stock?
Analysts have provided mixed ratings, with many reducing price targets while maintaining Buy or Neutral ratings based on their assessment of the company's performance.
When is Fluor expected to announce its earnings?
The earnings announcement for Fluor is expected to occur before the market opens this Friday.
Should I consider investing in FLR stock?
Potential investors should review analyst ratings and market conditions before making any decisions regarding FLR stock investment.
