Zacks Research Weighs in on TechnipFMC plc’s FY2024 Earnings (NYSE:FTI)

TechnipFMC plc (NYSE:FTI) – Research analysts at Zacks Research lifted their FY2024 EPS estimates for TechnipFMC in a research note issued on Friday, August 2nd. Zacks Research analyst N. Choudhury now anticipates that the oil and gas company will post earnings of $1.28 per share for the year, up from their previous forecast of $1.14. The consensus estimate for TechnipFMC’s current full-year earnings is $1.22 per share. Zacks Research also issued estimates for TechnipFMC’s Q4 2024 earnings at $0.29 EPS and FY2026 earnings at $2.20 EPS.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.31 by $0.12. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.23 billion. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The company’s revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 earnings per share.

Other analysts have also recently issued research reports about the stock. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Sunday, April 28th. Bank of America boosted their price objective on shares of TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a research note on Monday, April 15th. Barclays boosted their price objective on shares of TechnipFMC from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Piper Sandler boosted their price objective on shares of TechnipFMC from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Finally, Susquehanna boosted their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.38.

TechnipFMC Stock Performance

NYSE FTI opened at $25.69 on Monday. The firm’s fifty day moving average price is $26.28 and its two-hundred day moving average price is $24.59. The stock has a market cap of $11.07 billion, a PE ratio of 54.66 and a beta of 1.52. TechnipFMC has a fifty-two week low of $17.73 and a fifty-two week high of $29.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.10.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.78%. TechnipFMC’s dividend payout ratio is currently 42.55%.

Insider Activity

In other news, CAO David Light sold 5,928 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total transaction of $153,001.68. Following the transaction, the chief accounting officer now owns 11,534 shares in the company, valued at $297,692.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.06% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

A number of institutional investors and hedge funds have recently made changes to their positions in FTI. Price T Rowe Associates Inc. MD raised its holdings in shares of TechnipFMC by 8.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock worth $1,019,337,000 after acquiring an additional 3,259,348 shares during the last quarter. Norges Bank bought a new stake in TechnipFMC in the 4th quarter worth about $61,570,000. Balyasny Asset Management L.P. grew its position in TechnipFMC by 868.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock worth $63,082,000 after purchasing an additional 2,808,618 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in TechnipFMC in the 4th quarter worth about $37,976,000. Finally, TD Asset Management Inc grew its position in TechnipFMC by 182.8% in the 4th quarter. TD Asset Management Inc now owns 1,680,716 shares of the oil and gas company’s stock worth $33,850,000 after purchasing an additional 1,086,400 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

About TechnipFMC

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.