Fluor Corporation [FLR] Stock trading around $19.14 per share: What’s Next?

Fluor Corporation [NYSE: FLR] stock went on an upward path that rose over 1.11% on Friday, amounting to a one-week price decrease of less than -22.45%. The company report on May 14, 2021 that Fluor Announces Pricing of Upsized Convertible Preferred Stock Offering.

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Fluor Corporation (NYSE: FLR) (the “Company” or “Fluor”) announced that it has priced its previously announced private placement of 525,000 shares of a newly created series of convertible preferred stock, to be designated as Series A 6.50% Cumulative Perpetual Convertible Preferred Stock (the “Preferred Stock”). The Company has also increased the size of the offering to 525,000 shares from the previously announced 450,000 shares and has granted the initial purchasers of the Preferred Stock a 30-day option to purchase up to an additional 75,000 in shares of Preferred Stock. The Company intends to use the net proceeds from this offering to redeem or repay outstanding indebtedness and for general corporate purposes. The offering is expected to close on May 18, 2021, subject to customary closing conditions.

The Preferred Stock does not have a maturity date. Cumulative cash dividends on the Preferred Stock will be payable at a rate of 6.50% per annum, quarterly in arrears, on February 15, May 15, August 15 and November 15 of each year, commencing on August 15, 2021, when, as and if declared by the Company’s board of directors. Dividends will accumulate from the most recent date on which dividends have been paid or, if no dividends have been paid, from the first date of original issuance of the Preferred Stock.

Over the last 12 months, FLR stock rose by 121.02%. The one-year Fluor Corporation stock forecast points to a potential upside of 11.27. The average equity rating for FLR stock is currently 2.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.68 billion, with 140.90 million shares outstanding and 138.14 million shares in the current float. Compared to the average trading volume of 2.82M shares, FLR stock reached a trading volume of 14580434 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Fluor Corporation [FLR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FLR shares is $21.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FLR stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Vertical Research have made an estimate for Fluor Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 21, 2021. While these analysts kept the previous recommendation, UBS dropped their target price from $29 to $11. The new note on the price target was released on April 27, 2020, representing the official price target for Fluor Corporation stock. Previously, the target price had yet another drop from $11 to $10, while Citigroup kept a Neutral rating on FLR stock. On February 19, 2020, analysts decreased their price target for FLR shares from 21 to 16.

The Average True Range (ATR) for Fluor Corporation is set at 1.33, with the Price to Sales ratio for FLR stock in the period of the last 12 months amounting to 0.18. The Price to Book ratio for the last quarter was 2.74, with the Price to Cash per share for the same quarter was set at 14.00.

FLR Stock Performance Analysis:

Fluor Corporation [FLR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -22.45. With this latest performance, FLR shares dropped by -14.71% in over the last four-week period, additionally plugging by 43.16% over the last 6 months – not to mention a rise of 121.02% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FLR stock in for the last two-week period is set at 31.18, with the RSI for the last a single of trading hit 22.89, and the three-weeks RSI is set at 37.55 for Fluor Corporation [FLR]. The present Moving Average for the last 50 days of trading for this stock 22.12, while it was recorded at 22.13 for the last single week of trading, and 16.14 for the last 200 days.

Insight into Fluor Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Fluor Corporation [FLR] shares currently have an operating margin of +1.24 and a Gross Margin at +2.48. Fluor Corporation’s Net Margin is presently recorded at -1.88.

Return on Total Capital for FLR is now 5.73, given the latest momentum, and Return on Invested Capital for the company is -9.38. Return on Equity for this stock declined to -23.34, with Return on Assets sitting at -3.85. When it comes to the capital structure of this company, Fluor Corporation [FLR] has a Total Debt to Total Equity ratio set at 191.65. Additionally, FLR Total Debt to Total Capital is recorded at 65.71, with Total Debt to Total Assets ending up at 27.01. Long-Term Debt to Equity for the company is recorded at 183.14, with the Long-Term Debt to Total Capital now at 62.79.

Reflecting on the efficiency of the workforce at the company, Fluor Corporation [FLR] managed to generate an average of -$6,723 per employee. Receivables Turnover for the company is 7.63 with a Total Asset Turnover recorded at a value of 2.05.Fluor Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.50.

FLR Stock EPS

With the latest financial reports released by the company, Fluor Corporation posted -0.19/share EPS, while the average EPS was predicted by analysts to be reported at 0.2/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -195.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FLR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Fluor Corporation go to -6.69%.

Fluor Corporation [FLR] Insider Position Details

There are presently around $2,023 million, or 73.70% of FLR stock, in the hands of institutional investors. The top three institutional holders of FLR stocks are: BLACKROCK INC. with ownership of 15,963,167, which is approximately 8.115% of the company’s market cap and around 1.20% of the total institutional ownership; VANGUARD GROUP INC, holding 12,627,873 shares of the stock with an approximate value of $241.7 million in FLR stocks shares; and HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC, currently with $163.6 million in FLR stock with ownership of nearly 22.65% of the company’s market capitalization.

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Positions in Fluor Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 158 institutional holders increased their position in Fluor Corporation [NYSE:FLR] by around 17,593,492 shares. Additionally, 124 investors decreased positions by around 8,111,778 shares, while 51 investors held positions by with 79,987,511 shares. The mentioned changes placed institutional holdings at 105,692,781 shares, according to the latest SEC report filing. FLR stock had 67 new institutional investments in for a total of 3,332,249 shares, while 38 institutional investors sold positions of 2,599,297 shares during the same period.

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