TechnipFMC (NYSE:FTI) Upgraded to “Buy” at HSBC

HSBC upgraded shares of TechnipFMC (NYSE:FTI) from a hold rating to a buy rating in a research note released on Tuesday, MarketBeat reports. They currently have $32.00 price target on the oil and gas company’s stock.

Several other equities research analysts have also issued reports on FTI. Barclays lifted their price objective on TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup lifted their price target on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Bank of America upped their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. TD Cowen lifted their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Susquehanna raised their price objective on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.41.

TechnipFMC Stock Up 2.3 %

Shares of NYSE FTI opened at $26.69 on Tuesday. The business has a 50-day simple moving average of $26.13 and a two-hundred day simple moving average of $26.18. TechnipFMC has a 52 week low of $18.33 and a 52 week high of $29.85. The company has a market cap of $11.35 billion, a P/E ratio of 17.56 and a beta of 1.50. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.23.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm posted $0.21 EPS. TechnipFMC’s revenue was up 14.2% on a year-over-year basis. Research analysts anticipate that TechnipFMC will post 1.38 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.75%. TechnipFMC’s payout ratio is 13.16%.

TechnipFMC announced that its Board of Directors has authorized a stock buyback plan on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Institutional Trading of TechnipFMC

A number of institutional investors have recently made changes to their positions in FTI. Norden Group LLC boosted its position in TechnipFMC by 2,899.1% during the 1st quarter. Norden Group LLC now owns 378,900 shares of the oil and gas company’s stock valued at $9,514,000 after buying an additional 366,266 shares during the period. Edgestream Partners L.P. bought a new position in TechnipFMC in the first quarter worth about $965,000. Atria Investments Inc purchased a new position in shares of TechnipFMC in the 1st quarter valued at approximately $1,684,000. Raymond James & Associates boosted its holdings in shares of TechnipFMC by 12.0% during the 2nd quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company’s stock valued at $8,875,000 after buying an additional 36,326 shares in the last quarter. Finally, Diversify Advisory Services LLC purchased a new position in TechnipFMC during the 1st quarter valued at about $848,000. 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.