Brokerages Anticipate TechnipFMC PLC (NYSE:FTI) Will Announce Quarterly Sales of $3.12 Billion

Wall Street analysts expect TechnipFMC PLC (NYSE:FTI) to post sales of $3.12 billion for the current fiscal quarter, Zacks reports. Twenty Seven analysts have issued estimates for TechnipFMC’s earnings, with the lowest sales estimate coming in at $2.59 billion and the highest estimate coming in at $3.81 billion. TechnipFMC reported sales of $3.43 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 9%. The firm is scheduled to issue its next earnings report after the market closes on Wednesday, July 29th.

According to Zacks, analysts expect that TechnipFMC will report full-year sales of $12.65 billion for the current year, with estimates ranging from $11.04 billion to $14.10 billion. For the next year, analysts forecast that the business will post sales of $13.25 billion, with estimates ranging from $10.22 billion to $18.95 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover TechnipFMC.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.33). The firm had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.38 billion. TechnipFMC had a positive return on equity of 2.41% and a negative net margin of 40.74%. TechnipFMC’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 EPS.

A number of equities research analysts have recently commented on FTI shares. Morgan Stanley raised their price objective on shares of TechnipFMC from $8.00 to $9.30 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Wells Fargo & Co decreased their target price on TechnipFMC from $18.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Barclays decreased their target price on TechnipFMC from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Berenberg Bank decreased their target price on TechnipFMC from $12.50 to $11.50 and set a “buy” rating on the stock in a research report on Friday, April 24th. Finally, Cfra decreased their target price on TechnipFMC from $16.00 to $8.50 and set a “hold” rating on the stock in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $16.39.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sunbelt Securities Inc. purchased a new position in shares of TechnipFMC during the 4th quarter worth $3,666,000. Advisory Services Network LLC purchased a new position in shares of TechnipFMC during the 4th quarter worth $27,000. Orion Portfolio Solutions LLC purchased a new position in shares of TechnipFMC during the 4th quarter worth $31,000. CSat Investment Advisory L.P. raised its holdings in shares of TechnipFMC by 82.3% during the 4th quarter. CSat Investment Advisory L.P. now owns 2,007 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 906 shares during the period. Finally, Verus Capital Partners LLC raised its holdings in shares of TechnipFMC by 514.4% during the 1st quarter. Verus Capital Partners LLC now owns 4,743 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 3,971 shares during the period. Institutional investors and hedge funds own 77.79% of the company’s stock.

Shares of NYSE FTI traded down $0.24 during midday trading on Monday, reaching $6.80. 6,969,977 shares of the stock were exchanged, compared to its average volume of 6,264,506. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of -0.55, a PEG ratio of 1.10 and a beta of 1.92. TechnipFMC has a twelve month low of $4.49 and a twelve month high of $28.57. The firm has a 50-day simple moving average of $7.84 and a two-hundred day simple moving average of $12.69. The company has a quick ratio of 1.01, a current ratio of 1.14 and a debt-to-equity ratio of 1.09.

TechnipFMC Company Profile

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.

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Earnings History and Estimates for TechnipFMC (NYSE:FTI)

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