TechnipFMC plc (FTI) to Issue Quarterly Dividend of $0.05 on December 4th

TechnipFMC plc (NYSE:FTI) declared a quarterly dividend on Wednesday, October 23rd,RTT News reports. Investors of record on Tuesday, November 19th will be given a dividend of 0.05 per share by the oil and gas company on Wednesday, December 4th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Tuesday, November 19th.

TechnipFMC has decreased its dividend by an average of 8.4% per year over the last three years. TechnipFMC has a payout ratio of 10.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect TechnipFMC to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 10.3%.

TechnipFMC Stock Down 1.1 %

TechnipFMC stock opened at $28.18 on Friday. The stock has a market capitalization of $11.99 billion, a price-to-earnings ratio of 18.54 and a beta of 1.51. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average of $26.54 and a two-hundred day moving average of $26.36. TechnipFMC has a twelve month low of $18.33 and a twelve month high of $29.85.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share 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 firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the firm posted $0.21 EPS. TechnipFMC’s quarterly revenue was up 14.2% on a year-over-year basis. As a group, research analysts expect that TechnipFMC will post 1.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FTI shares. TD Cowen raised their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, October 25th. Bank of America boosted their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Hsbc Global Res upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Barclays upped their target price on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Finally, Citigroup boosted their price target on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, TechnipFMC currently has a consensus rating of “Buy” and an average price target of $33.60.

TechnipFMC announced that its Board of Directors has approved a share buyback plan 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 reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.