TechnipFMC (NYSE:FTI) Rating Increased to Buy at HSBC

TechnipFMC (NYSE:FTI) was upgraded by research analysts at HSBC from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Briefing.com reports. The firm presently has a $32.00 price target on the oil and gas company’s stock. HSBC’s price objective would suggest a potential upside of 22.70% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets raised their price target on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. Citigroup raised their price objective on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Bank of America upped their target price on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Susquehanna increased their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday. Finally, TD Cowen boosted their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.41.

TechnipFMC Stock Performance

NYSE FTI opened at $26.08 on Tuesday. The company’s 50 day simple moving average is $26.11 and its two-hundred day simple moving average is $26.17. The stock has a market capitalization of $11.17 billion, a PE ratio of 23.93 and a beta of 1.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.84. TechnipFMC has a 1 year low of $18.33 and a 1 year 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 (EPS) for the quarter, beating 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 return on equity of 14.36% and a net margin of 5.72%. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the company earned $0.21 earnings per share. Analysts predict that TechnipFMC will post 1.38 earnings per share for the current fiscal year.

TechnipFMC announced that its board has approved a share repurchase program 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 repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. increased its position in 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 during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of TechnipFMC in the 3rd quarter worth $30,000. Whittier Trust Co. bought a new stake in shares of TechnipFMC in the 1st quarter worth about $29,000. GAMMA Investing LLC raised its position in shares of TechnipFMC by 73.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 492 shares in the last quarter. Finally, ORG Partners LLC bought a new position in shares of TechnipFMC in the 2nd quarter valued at about $33,000. 96.58% of the stock is currently owned by institutional investors.

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.