TechnipFMC (NYSE:FTI) Raised to “Buy” at Jefferies Financial Group

TechnipFMC (NYSE:FTI) was upgraded by equities researchers at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report issued on Friday, Marketbeat Ratings reports. The brokerage currently has a $40.00 target price on the oil and gas company’s stock, up from their previous target price of $29.00. Jefferies Financial Group’s price target would indicate a potential upside of 30.17% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Citigroup raised their target price on TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Susquehanna upped their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. BMO Capital Markets upped their target price on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, October 10th. Finally, Bank of America upped their target price on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $34.42.

TechnipFMC Trading Down 3.8 %

Shares of FTI stock opened at $30.73 on Friday. The stock has a 50-day simple moving average of $28.09 and a 200 day simple moving average of $26.79. TechnipFMC has a fifty-two week low of $18.33 and a fifty-two week high of $32.64. The stock has a market capitalization of $13.07 billion, a P/E ratio of 20.22 and a beta of 1.54. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the business posted $0.21 earnings per share. The company’s quarterly revenue was up 14.2% on a year-over-year basis. On average, sell-side analysts expect that TechnipFMC will post 1.58 earnings per share for the current fiscal year.

TechnipFMC announced that its Board of Directors has initiated a stock repurchase program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the oil and gas company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On TechnipFMC

Several hedge funds have recently bought and sold shares of the business. Raymond James & Associates raised its stake in shares of TechnipFMC by 12.0% during the 2nd quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company’s stock worth $8,875,000 after purchasing an additional 36,326 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of TechnipFMC by 971.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock worth $10,692,000 after purchasing an additional 369,594 shares in the last quarter. ING Groep NV raised its stake in shares of TechnipFMC by 15.3% during the 3rd quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock worth $22,697,000 after purchasing an additional 114,600 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of TechnipFMC during the 3rd quarter worth about $49,273,000. Finally, Entropy Technologies LP purchased a new stake in shares of TechnipFMC during the 3rd quarter worth about $575,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

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.