Fluor Corporation (NEW) (FLR) is Downgraded by Seaport Global Securities to Neutral, Lowers Price Target to $ 50

Fluor Corporation (NEW) (FLR) was Downgraded by Seaport Global Securities to ” Neutral” while Lowering the Price Target of the company shares to $ 50 from a previous price target of $53 . Earlier the firm had a rating of “Accumulate ” on the company shares. Seaport Global Securities advised their investors in a research report released on Oct 14, 2016.

On the company’s financial health, Fluor Corporation (NEW) reported $0.72 EPS for the quarter, missing the analyst consensus estimate by $ -0.16 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.88. The company had revenue of $4856.10 million for the quarter, compared to analysts expectations of $4733.48 million. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS.

Fluor Corporation (NEW) closed down -1.17 points or -2.29% at $50 with 14,07,607 shares getting traded on Tuesday. Post opening the session at $50.72, the shares hit an intraday low of $49.61 and an intraday high of $50.99 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Aug 26, 2015, Deborah D Mcwhinney (director) purchased 2,352 shares at $42.50 per share price. According to the SEC, on Mar 11, 2015, Gary G. Smalley (Sr Vice Pres and Controller) sold 3,883 shares at $57.27 per share price.

Fluor Corporation (Fluor) is a holding company. The Company is a professional services company. The Company provides engineering procurement construction fabrication and modularization commissioning and maintenance as well as project management services. It operates in five segments: Oil & Gas Industrial & Infrastructure Government Global Services and Power. Through its Oil & Gas segment Fluor serves the oil and gas production processing and chemical and petrochemical industries. The Industrial & Infrastructure segment provides design engineering procurement construction operations and maintenance and project management services. The Government segment is a provider of engineering construction logistics and environmental and nuclear services among others. The Global Services segment provides a range of solutions to support projects across Fluor groups. In the Power segment it provides a range of services to the gas-fueled and solid-fueled markets among others.

Fluor Corporation (NEW)

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