TechnipFMC (NYSE:FTI) Releases Earnings Results, Beats Expectations By $0.12 EPS

TechnipFMC (NYSE:FTI) announced its quarterly earnings data on Thursday. The oil and gas company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12, Briefing.com reports. TechnipFMC had a return on equity of 9.57% and a net margin of 2.61%. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. TechnipFMC updated its FY 2024 guidance to EPS.

TechnipFMC Stock Performance

NYSE FTI traded up $0.49 during trading on Friday, reaching $28.87. The company’s stock had a trading volume of 4,889,331 shares, compared to its average volume of 4,189,072. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 61.47 and a beta of 1.52. TechnipFMC has a 12 month low of $17.36 and a 12 month high of $29.24. The firm has a 50 day moving average price of $25.99 and a 200 day moving average price of $24.00.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Tuesday, August 20th. TechnipFMC’s dividend payout ratio is currently 42.55%.

Insider Transactions at TechnipFMC

In other news, CAO David Light sold 5,928 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total transaction of $153,001.68. Following the completion of the sale, the chief accounting officer now owns 11,534 shares of the company’s stock, valued at approximately $297,692.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FTI. Benchmark restated a “buy” rating and issued a $30.00 target price on shares of TechnipFMC in a report on Friday, April 26th. Piper Sandler increased their target price on shares of TechnipFMC from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Susquehanna upped their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a report on Friday. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Sunday, April 28th. Finally, TD Cowen raised their price objective on shares of TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.62.

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.