TechnipFMC plc (NYSE:FTI) Receives Average Recommendation of “Buy” from Analysts

Shares of TechnipFMC plc (NYSE:FTI) have earned an average rating of “Buy” from the twelve research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $33.91.

Several equities research analysts have issued reports on FTI shares. Barclays boosted their price objective on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Citigroup upped their target price on shares of 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 shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research note on Friday, October 25th. TD Cowen restated a “buy” rating and issued a $37.00 target price on shares of TechnipFMC in a research note on Wednesday, November 27th. Finally, Royal Bank of Canada initiated coverage on shares of TechnipFMC in a research note on Monday, November 18th. They set an “outperform” rating and a $37.00 price objective on the stock.

TechnipFMC Stock Performance

NYSE:FTI opened at $31.31 on Tuesday. The firm has a 50 day simple moving average of $27.61 and a 200-day simple moving average of $26.63. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The firm has a market cap of $13.32 billion, a PE ratio of 20.60 and a beta of 1.51. TechnipFMC has a 1-year low of $18.33 and a 1-year high of $31.53.

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 the consensus estimate of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the business posted $0.21 earnings per share. TechnipFMC’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities analysts expect that TechnipFMC will post 1.58 EPS for the current year.

TechnipFMC declared that its board has approved a share buyback plan on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC’s dividend payout ratio is 13.16%.

Institutional Investors Weigh In On TechnipFMC

Several hedge funds and other institutional investors have recently modified their holdings of FTI. Blue Trust Inc. boosted its stake in TechnipFMC by 203.6% during the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after buying an additional 735 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of TechnipFMC during the third quarter valued at $30,000. GAMMA Investing LLC lifted its holdings in shares of TechnipFMC by 73.1% during the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 492 shares during the period. ORG Partners LLC bought a new position in shares of TechnipFMC during the second quarter valued at $33,000. Finally, Crewe Advisors LLC bought a new position in shares of TechnipFMC during the second quarter valued at $51,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

About TechnipFMC

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.