TechnipFMC (NYSE:FTI) Sets New 52-Week High – Time to Buy?

TechnipFMC plc (NYSE:FTI) hit a new 52-week high on Friday . The company traded as high as $33.45 and last traded at $32.44, with a volume of 307545 shares trading hands. The stock had previously closed at $32.55.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FTI. TD Cowen restated a “buy” rating and set a $37.00 price objective on shares of TechnipFMC in a research note on Wednesday, November 27th. BMO Capital Markets lifted their target price on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and lifted their target price for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $35.92.

TechnipFMC Trading Down 2.6 %

The firm has a market cap of $13.49 billion, a P/E ratio of 20.86 and a beta of 1.54. 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 firm has a fifty day moving average of $29.89 and a 200-day moving average of $27.68.

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. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 EPS. Equities research analysts forecast that TechnipFMC plc will post 1.61 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.63%. The ex-dividend date was Tuesday, November 19th. TechnipFMC’s payout ratio is currently 13.16%.

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

Institutional Trading of TechnipFMC

Hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC bought a new stake in shares of TechnipFMC in the 2nd quarter worth $263,000. Headlands Technologies LLC raised its stake in shares of TechnipFMC by 291.5% in the 2nd quarter. Headlands Technologies LLC now owns 3,723 shares of the oil and gas company’s stock worth $97,000 after buying an additional 2,772 shares in the last quarter. Qsemble Capital Management LP bought a new stake in shares of TechnipFMC in the 2nd quarter worth $317,000. William Blair Investment Management LLC raised its stake in shares of TechnipFMC by 4.3% in the 2nd quarter. William Blair Investment Management LLC now owns 2,016,513 shares of the oil and gas company’s stock worth $52,732,000 after buying an additional 82,872 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of TechnipFMC by 17.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 350,696 shares of the oil and gas company’s stock worth $9,171,000 after buying an additional 53,280 shares in the last quarter. 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.