Zacks Research Forecasts Higher Earnings for TechnipFMC

TechnipFMC plc (NYSE:FTI) – Zacks Research raised their FY2024 EPS estimates for shares of TechnipFMC in a note issued to investors on Wednesday, January 22nd. Zacks Research analyst N. Choudhury now forecasts that the oil and gas company will post earnings per share of $1.59 for the year, up from their previous forecast of $1.58. The consensus estimate for TechnipFMC’s current full-year earnings is $1.62 per share. Zacks Research also issued estimates for TechnipFMC’s Q4 2024 earnings at $0.30 EPS and Q4 2026 earnings at $0.55 EPS.

A number of other equities analysts have also commented on FTI. TD Cowen reaffirmed a “buy” rating and issued a $37.00 price objective on shares of TechnipFMC in a research note on Wednesday, November 27th. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Bank of America lifted their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Evercore ISI upped their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Finally, Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $36.15.

TechnipFMC Trading Down 1.0 %

NYSE FTI opened at $31.40 on Friday. The firm has a market capitalization of $13.36 billion, a PE ratio of 20.66 and a beta of 1.54. The business’s 50-day moving average price is $30.71 and its two-hundred day moving average price is $28.10. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC has a 12 month low of $18.53 and a 12 month high of $33.45.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. TechnipFMC’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 earnings per share.

Institutional Trading of TechnipFMC

Several hedge funds have recently bought and sold shares of FTI. Franklin Resources Inc. lifted its stake in shares of TechnipFMC by 23.0% in the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after buying an additional 679,748 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in 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% in the third 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 during the last quarter. Westfield Capital Management Co. LP bought a new position in shares of TechnipFMC in the third quarter valued at approximately $49,273,000. Finally, Entropy Technologies LP purchased a new position in shares of TechnipFMC during the third quarter valued at approximately $575,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC announced that its board has approved a share repurchase plan on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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.