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

TechnipFMC plc (NYSE:FTI) has been assigned an average rating of “Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $36.15.

FTI has been the topic of a number of recent research reports. Susquehanna boosted their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a research note on Friday, October 25th. HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Tuesday, October 29th. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. 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. Finally, Royal Bank of Canada assumed coverage on shares of TechnipFMC in a research note on Monday, November 18th. They set an “outperform” rating and a $37.00 price target on the stock.

TechnipFMC Stock Down 0.1 %

FTI opened at $32.54 on Wednesday. TechnipFMC has a 1 year low of $18.53 and a 1 year high of $33.45. The firm has a 50 day moving average price of $30.50 and a 200 day moving average price of $28.01. 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 company has a market cap of $13.84 billion, a PE ratio of 21.41 and a beta of 1.54.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.25. The company had revenue of $2.35 billion during 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%. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 earnings per share. Sell-side analysts expect that TechnipFMC will post 1.61 earnings per share for the current year.

TechnipFMC declared that its Board of Directors has initiated a stock buyback program on Wednesday, October 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of TechnipFMC

Several hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. grew its stake in shares of TechnipFMC by 203.6% in the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 735 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in TechnipFMC in the third quarter worth about $30,000. GAMMA Investing LLC grew its position in TechnipFMC by 59.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 693 shares in the last quarter. Toth Financial Advisory Corp increased its stake in TechnipFMC by 1,900.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock valued at $52,000 after buying an additional 1,900 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in shares of TechnipFMC during the 3rd quarter worth about $56,000. 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.