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 eleven research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $33.60.

Several research analysts have issued reports on the company. Barclays upped their price objective on TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Tuesday, October 29th. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. BMO Capital Markets raised their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, October 10th. Finally, Bank of America increased their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 14th.

Institutional Trading of TechnipFMC

Several hedge funds have recently added to or reduced their stakes in FTI. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of TechnipFMC in the third quarter worth about $311,000. True Wealth Design LLC bought a new stake in TechnipFMC during the 3rd quarter worth approximately $57,000. Maverick Capital Ltd. raised its holdings in TechnipFMC by 7.5% during the 3rd quarter. Maverick Capital Ltd. now owns 64,139 shares of the oil and gas company’s stock worth $1,682,000 after buying an additional 4,464 shares during the period. Captrust Financial Advisors lifted its stake in TechnipFMC by 11.7% in the third quarter. Captrust Financial Advisors now owns 40,741 shares of the oil and gas company’s stock valued at $1,069,000 after buying an additional 4,273 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in shares of TechnipFMC in the third quarter valued at approximately $250,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Price Performance

NYSE:FTI opened at $28.49 on Friday. The firm has a market cap of $12.12 billion, a PE ratio of 18.74 and a beta of 1.51. The company’s 50-day moving average price is $26.45 and its two-hundred day moving average price is $26.34. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. TechnipFMC has a 12 month low of $18.33 and a 12 month high of $29.85.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping 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 quarter in the prior year, the firm earned $0.21 EPS. The company’s revenue was up 14.2% on a year-over-year basis. On average, equities analysts anticipate that TechnipFMC will post 1.47 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

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 dividend of $0.05 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.70%. TechnipFMC’s dividend payout ratio is 13.16%.

TechnipFMC announced that its board 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 buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.