Notable Price Action: Does Fluor Corporation (NEW) Have Any Gas After Today’s Huge Decline?

Notable Price Action: Does Fluor Corporation (NEW) Have Any Gas After Today's Huge Decline?

The stock of Fluor Corporation (NEW) (NYSE:FLR) is a huge mover today! About 1.05 million shares traded hands. Fluor Corporation (NEW) (NYSE:FLR) has declined 2.14% since March 11, 2016 and is downtrending. It has underperformed by 7.60% the S&P500.
The move comes after 5 months negative chart setup for the $6.93 billion company. It was reported on Oct, 14 by Barchart.com. We have $47.00 PT which if reached, will make NYSE:FLR worth $415.80M less.

Analysts await Fluor Corporation (NEW) (NYSE:FLR) to report earnings on November, 3. They expect $0.87 EPS, down 28.10% or $0.34 from last year’s $1.21 per share. FLR’s profit will be $120.58M for 14.37 P/E if the $0.87 EPS becomes a reality. After $0.72 actual EPS reported by Fluor Corporation (NEW) for the previous quarter, Wall Street now forecasts 20.83% EPS growth.

Fluor Corporation (NEW) (NYSE:FLR) Ratings Coverage

Out of 14 analysts covering Fluor Corporation (NYSE:FLR), 8 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 57% are positive. Fluor Corporation has been the topic of 23 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Friday, November 13 by Citigroup. The firm has “Outperform” rating given on Friday, February 19 by Credit Suisse. The firm earned “Market Perform” rating on Friday, February 19 by FBR Capital. The stock of Fluor Corporation (NEW) (NYSE:FLR) has “Buy” rating given on Tuesday, August 25 by Canaccord Genuity. S&P Research upgraded Fluor Corporation (NEW) (NYSE:FLR) rating on Thursday, October 8. S&P Research has “Buy” rating and $53 price target. As per Friday, July 31, the company rating was maintained by Deutsche Bank. The company was maintained on Friday, August 21 by William Blair. The stock has “Neutral” rating given by Seaport Global Securities on Friday, October 14. The stock of Fluor Corporation (NEW) (NYSE:FLR) earned “Neutral” rating by UBS on Friday, July 31. The firm earned “Neutral” rating on Wednesday, June 29 by M Partners.

According to Zacks Investment Research, “Fluor is a FORTUNE 500 company that delivers engineering, procurement, construction, maintenance (EPCM), and project management to governments and clients in diverse industries around the world. Fluor serves a number of industries worldwide, including oil and gas, chemical and petrochemicals, transportation, mining and metals, power, life sciences and manufacturing. Fluor is also a primary service provider to the United States Federal Government. It performs operations and maintenance activities for major industrial clients, and also operates and maintains their equipment fleet. The Company is aligned into five principal operating segments: Oil and Gas, Industrial and Infrastructure, Government, Global Services and Power. The company also offers unionized management and construction services in the United States and Canada. Fluor Corporation is headquartered in Irving, Texas.”

Insitutional Activity: The institutional sentiment decreased to 0.86 in 2016 Q2. Its down 0.09, from 0.95 in 2016Q1. The ratio dropped, as 55 funds sold all Fluor Corporation (NEW) shares owned while 167 reduced positions. 41 funds bought stakes while 150 increased positions. They now own 114.24 million shares or 3.13% less from 117.92 million shares in 2016Q1.
The North Carolina-based Parsec has invested 0.44% in Fluor Corporation (NEW) (NYSE:FLR). Huntington Savings Bank reported 3,011 shares or 0% of all its holdings. Victory Cap Mgmt holds 0% or 1,777 shares in its portfolio. Henderson Group Incorporated Public Limited Company holds 0.01% of its portfolio in Fluor Corporation (NEW) (NYSE:FLR) for 13,879 shares. First Manhattan last reported 0.02% of its portfolio in the stock. The United Kingdom-based Legal & General Plc has invested 0.04% in Fluor Corporation (NEW) (NYSE:FLR). Bnp Paribas Inv Prtnrs last reported 0.03% of its portfolio in the stock. Artisan Prtnrs Limited Partnership owns 2.79 million shares or 0.29% of their US portfolio. Ferguson Wellman Cap Mgmt, a Oregon-based fund reported 5,420 shares. Goldman Sachs Group holds 0.02% or 1.24M shares in its portfolio. Northeast Financial Consultants Inc, a Connecticut-based fund reported 6,711 shares. Schwerin Boyle has 156,000 shares for 1.1% of their US portfolio. Great West Life Assurance Company Can holds 0.02% or 106,292 shares in its portfolio. Aqr Cap Management Llc last reported 0.04% of its portfolio in the stock. Euclidean Techs Mgmt Limited Liability holds 41,994 shares or 2.22% of its portfolio.

FLR Company Profile

Fluor Corporation (Fluor), incorporated on September 11, 2000, is a holding company. The Firm operates its business in five divisions: Oil & Gas, Industrial & Infrastructure, Government, Global Services and Power. The Company, through its subsidiaries, provides professional services. The Firm is an integrated solutions well-known provider for various industries, including gas and oil, chemicals and petrochemicals, transportation, mining and metals, power, life sciences and manufacturing. The Firm is also a service well-known provider to the United States federal Government, and it performs activities and maintenance activities around the world for its industrial clients.

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