TechnipFMC plc (NYSE:FTI) Receives $29.38 Average Target Price from Analysts

TechnipFMC plc (NYSE:FTI) has been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $29.51.

A number of brokerages have weighed in on FTI. Susquehanna lifted their target price on TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a report on Friday, July 26th. StockNews.com lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Citigroup increased their target price on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th.

TechnipFMC Trading Down 3.5 %

NYSE:FTI opened at $26.84 on Thursday. TechnipFMC has a 52 week low of $18.33 and a 52 week high of $29.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.10. The firm’s fifty day moving average is $26.49 and its 200-day moving average is $25.97. The firm has a market cap of $11.50 billion, a P/E ratio of 57.10 and a beta of 1.50.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. Equities analysts expect that TechnipFMC will post 1.34 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.75%. TechnipFMC’s dividend payout ratio is presently 42.55%.

Hedge Funds Weigh In On TechnipFMC

A number of hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new stake in shares of TechnipFMC in the second quarter worth approximately $210,000. Point72 Asset Management L.P. raised its position in TechnipFMC by 217.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 706,918 shares of the oil and gas company’s stock valued at $18,486,000 after buying an additional 483,918 shares during the last quarter. Quarry LP lifted its stake in TechnipFMC by 73.0% during the 2nd quarter. Quarry LP now owns 2,706 shares of the oil and gas company’s stock valued at $71,000 after acquiring an additional 1,142 shares in the last quarter. Creative Planning boosted its holdings in TechnipFMC by 3.2% during the 2nd quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock worth $455,000 after acquiring an additional 546 shares during the last quarter. Finally, Algert Global LLC grew its stake in shares of TechnipFMC by 16.0% in the 2nd quarter. Algert Global LLC now owns 470,773 shares of the oil and gas company’s stock worth $12,311,000 after acquiring an additional 64,831 shares in the last quarter. 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.