TechnipFMC plc (NYSE:FTI) Receives Consensus Rating of “Buy” from Brokerages

Shares of TechnipFMC plc (NYSE:FTI) have received a consensus recommendation of “Buy” from the thirteen research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $35.92.

Several equities analysts have recently weighed in on FTI shares. The Goldman Sachs Group initiated coverage on TechnipFMC in a research report on Friday, December 13th. They issued a “buy” rating and a $38.00 price target for the company. Citigroup lifted their target price on TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Barclays increased their price target on shares of TechnipFMC from $37.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Tuesday, October 29th. Finally, Hsbc Global Res upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th.

TechnipFMC Trading Down 0.4 %

Shares of TechnipFMC stock opened at $29.04 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The stock has a market capitalization of $12.35 billion, a P/E ratio of 19.11 and a beta of 1.54. TechnipFMC has a 52-week low of $18.33 and a 52-week high of $32.64. The stock’s 50-day simple moving average is $28.92 and its 200 day simple moving average is $27.25.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the company posted $0.21 EPS. TechnipFMC’s revenue was up 14.2% compared to the same quarter last year. As a group, research analysts anticipate that TechnipFMC will post 1.61 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th were paid a $0.05 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.69%. TechnipFMC’s dividend payout ratio is presently 13.16%.

TechnipFMC declared that its board has initiated a share repurchase program on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the oil and gas company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On TechnipFMC

A number of large investors have recently modified their holdings of the company. Oak Thistle LLC boosted its stake in TechnipFMC by 3.2% in the second quarter. Oak Thistle LLC now owns 13,705 shares of the oil and gas company’s stock worth $358,000 after buying an additional 421 shares in the last quarter. Ballentine Partners LLC boosted its stake in shares of TechnipFMC by 4.8% in the 3rd quarter. Ballentine Partners LLC now owns 11,223 shares of the oil and gas company’s stock valued at $294,000 after purchasing an additional 515 shares in the last quarter. Creative Planning lifted its stake in TechnipFMC by 3.2% in the second quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock worth $455,000 after purchasing an additional 546 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of TechnipFMC by 2.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,963 shares of the oil and gas company’s stock valued at $702,000 after buying an additional 616 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of TechnipFMC by 59.5% in the third quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock worth $49,000 after buying an additional 693 shares during the period. 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.