TechnipFMC (NYSE:FTI) Rating Increased to Buy at StockNews.com

TechnipFMC (NYSE:FTI) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other equities research analysts also recently commented on the company. Barclays boosted their target price on TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday. Citigroup upped their price objective on TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. BMO Capital Markets raised their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, October 10th. Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, TD Cowen lifted their price objective on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and an average price target of $32.41.

TechnipFMC Trading Up 2.3 %

TechnipFMC stock opened at $26.69 on Friday. TechnipFMC has a 1 year low of $18.33 and a 1 year high of $29.85. The firm’s 50 day moving average price is $26.13 and its 200-day moving average price is $26.18. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.84. The stock has a market cap of $11.35 billion, a P/E ratio of 17.56 and a beta of 1.50.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the firm posted $0.21 EPS. TechnipFMC’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities analysts predict that TechnipFMC will post 1.38 earnings per share for the current fiscal year.

TechnipFMC declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Hardman Johnston Global Advisors LLC boosted its holdings in TechnipFMC by 13.5% during the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock valued at $236,482,000 after acquiring an additional 1,071,103 shares during the period. HMS Capital Management LLC bought a new stake in shares of TechnipFMC during the third quarter worth $341,000. Vestor Capital LLC boosted its stake in shares of TechnipFMC by 31.6% during the third quarter. Vestor Capital LLC now owns 599,459 shares of the oil and gas company’s stock valued at $15,724,000 after purchasing an additional 143,990 shares during the period. Robeco Institutional Asset Management B.V. bought a new position in shares of TechnipFMC in the third quarter worth about $241,000. Finally, Cannon Global Investment Management LLC increased its stake in TechnipFMC by 96.8% in the 3rd quarter. Cannon Global Investment Management LLC now owns 61,000 shares of the oil and gas company’s stock worth $1,600,000 after buying an additional 30,000 shares during the period. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.