TechnipFMC (NYSE:FTI) Stock Price Expected to Rise, Evercore ISI Analyst Says

TechnipFMC (NYSE:FTI) had its price target hoisted by research analysts at Evercore ISI from $37.00 to $39.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the oil and gas company’s stock. Evercore ISI’s price objective suggests a potential upside of 19.19% from the company’s current price.

FTI has been the subject of several other research reports. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Tuesday, October 29th. BMO Capital Markets lifted their target price on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, October 10th. Royal Bank of Canada started coverage on TechnipFMC in a research report on Monday, November 18th. They issued an “outperform” rating and a $37.00 target price on the stock. Finally, StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $36.15.

TechnipFMC Stock Up 0.8 %

Shares of NYSE FTI traded up $0.25 during trading hours on Wednesday, hitting $32.72. The company had a trading volume of 108,156 shares, compared to its average volume of 3,081,823. The stock has a market capitalization of $13.92 billion, a P/E ratio of 21.53 and a beta of 1.54. 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 1-year low of $18.50 and a 1-year high of $33.45. The firm’s 50 day moving average is $30.01 and its 200-day moving average is $27.74.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results 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. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm posted $0.21 EPS. The company’s quarterly revenue was up 14.2% on a year-over-year basis. On average, analysts expect that TechnipFMC will post 1.61 earnings per share for the current fiscal year.

TechnipFMC declared that its Board of Directors has approved a share repurchase plan 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 reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of TechnipFMC

A number of institutional investors have recently added to or reduced their stakes in FTI. Baker Tilly Wealth Management LLC raised its holdings in shares of TechnipFMC by 4.1% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company’s stock valued at $248,000 after acquiring an additional 338 shares in the last quarter. GAMMA Investing LLC grew its position in TechnipFMC by 22.3% during the 4th quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock worth $66,000 after acquiring an additional 414 shares during the last quarter. Ballentine Partners LLC grew its position in TechnipFMC by 4.8% during the 3rd quarter. Ballentine Partners LLC now owns 11,223 shares of the oil and gas company’s stock worth $294,000 after acquiring an additional 515 shares during the last quarter. Creative Planning grew its position 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, Vanguard Personalized Indexing Management LLC grew its position in TechnipFMC by 2.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,963 shares of the oil and gas company’s stock worth $702,000 after acquiring an additional 616 shares during the last quarter. Hedge funds and other 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.