Fluor Corporation (FLR) stock forecast: Can it reach its 52-week high of $43.24

A share price of Fluor Corporation [FLR] is currently trading at $40.16, up 3.77%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The FLR shares have gain 7.73% over the last week, with a monthly amount drifted -6.12%, and not seem to be holding up well over a long-time horizon.

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On 7, March 2024, Fluor Joint Venture Awarded U.S. Department of Energy Hanford Integrated Tank Disposition Contract. In a post published today on Yahoo Finance, Fluor Corporation (NYSE: FLR) announced today that the U.S. Department of Energy (DOE) selected Hanford Tank Waste Operations & Closure, LLC (H2C) – a joint venture led by a subsidiary of BWX Technologies, Inc., together with Fluor and Amentum – to execute the Hanford Integrated Tank Disposition Contract. The new contract has an estimated ceiling of $45 billion over a 10-year ordering period for environmental management operations at the Hanford Site in Washington state. Fluor will recognize its share of earnings from this new contract using the equity method of accounting.

From an analyst’s perspective:

Fluor Corporation [NYSE: FLR] stock has seen the most recent analyst activity on March 14, 2024, when Truist initiated its Buy rating and assigned the stock a price target of $46. On October 04, 2023, upgrade upgraded it’s rating to Buy and revised its price target to $47 on the stock. DA Davidson upgraded its rating to a Buy and increased its price target to $40 on November 07, 2022. Robert W. Baird upgraded its rating to a Outperform and reduced its price target to $29 on February 23, 2022. BofA Securities upgraded its rating to Neutral for this stock on November 15, 2021, but kept the price target unchanged to $24.

Fluor Corporation experienced fluctuations in its stock price throughout the past year between $25.69 and $43.24. Currently, Wall Street analysts expect the stock to reach $47 within the next 12 months. Fluor Corporation [NYSE: FLR] shares were valued at $40.16 at the most recent close of the market. An investor can expect a potential return of 17.03% based on the average FLR price forecast.

Analyzing the FLR fundamentals

Trailing Twelve Months sales for Fluor Corporation [NYSE:FLR] were 15.47B which represents 2.96% growth. Gross Profit Margin for this corporation currently stands at 0.03% with Operating Profit Margin at 0.03%, Pretax Profit Margin comes in at 0.02%, and Net Profit Margin reading is 0.01%. To continue investigating profitability, this company’s Return on Assets is posted at 0.02, Equity is 0.06 and Total Capital is 0.11. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.62.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 39.09 points at the first support level, and at 38.01 for the second support level. However, for the 1st resistance point, the stock is sitting at 40.91, and for the 2nd resistance point, it is at 41.65.

Fluor Corporation [FLR] reported earnings per share of $0.68 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.57/share, meaning a difference of $0.11 and a surprise factor of 19.30%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $1.02 per share as compared to estimates of $0.56 per share, a difference of $0.46 representing a surprise of 82.10%.

Ratios To Look Out For

To put it in perspective, the Current Ratio for Fluor Corporation [NYSE:FLR] is 1.60. Also, the Quick Ratio is 1.60, while the Cash Ratio stands at 0.8. Considering the valuation of this stock, the price to sales ratio is 0.44, the price to book ratio is 3.53 and price to earnings (TTM) ratio is 81.49.