TechnipFMC PLC (NYSE:FTI) Receives Average Rating of “Buy” from Analysts

TechnipFMC PLC (NYSE:FTI) has earned an average rating of “Buy” from the twenty brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $16.01.

FTI has been the topic of a number of recent analyst reports. ValuEngine raised TechnipFMC from a “hold” rating to a “buy” rating in a research note on Thursday, July 2nd. Tudor Pickering upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Wednesday, July 1st. Wells Fargo & Co lowered their price objective on TechnipFMC from $18.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Cfra decreased their price target on TechnipFMC from $16.00 to $8.50 and set a “hold” rating on the stock in a research note on Thursday, April 23rd. Finally, Jefferies Financial Group lowered TechnipFMC from a “hold” rating to an “underperform” rating and decreased their price target for the company from $7.00 to $6.00 in a research note on Thursday, May 14th.

FTI traded up $0.02 during trading on Tuesday, reaching $8.03. The company had a trading volume of 9,298,949 shares, compared to its average volume of 5,811,943. The firm’s 50-day simple moving average is $7.55 and its 200 day simple moving average is $10.38. The company has a market cap of $3.60 billion, a price-to-earnings ratio of -0.64, a PEG ratio of 1.39 and a beta of 1.92. TechnipFMC has a 12-month low of $4.49 and a 12-month high of $28.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.01 and a current ratio of 1.16.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.03. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.04 billion. TechnipFMC had a positive return on equity of 0.93% and a negative net margin of 42.22%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the company posted $0.39 EPS. On average, sell-side analysts expect that TechnipFMC will post 0.26 EPS for the current year.

Several hedge funds have recently bought and sold shares of FTI. Primecap Management Co. CA increased its holdings in TechnipFMC by 151.4% during the 1st quarter. Primecap Management Co. CA now owns 676,800 shares of the oil and gas company’s stock worth $4,562,000 after purchasing an additional 407,600 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of TechnipFMC during the 1st quarter worth $279,000. Two Sigma Advisers LP lifted its stake in shares of TechnipFMC by 1,037.3% during the 1st quarter. Two Sigma Advisers LP now owns 627,800 shares of the oil and gas company’s stock valued at $4,231,000 after buying an additional 572,600 shares in the last quarter. Morgan Stanley lifted its stake in shares of TechnipFMC by 308.4% during the 1st quarter. Morgan Stanley now owns 2,070,779 shares of the oil and gas company’s stock valued at $13,956,000 after buying an additional 1,563,756 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in TechnipFMC by 4.3% in the 1st quarter. Geode Capital Management LLC now owns 5,839,171 shares of the oil and gas company’s stock worth $39,270,000 after purchasing an additional 240,690 shares in the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

About TechnipFMC

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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Analyst Recommendations for TechnipFMC (NYSE:FTI)

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