TechnipFMC (NYSE:FTI) Stock Price Expected to Rise, Citigroup Analyst Says

TechnipFMC (NYSE:FTI) had its target price hoisted by Citigroup from $34.00 to $35.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

Several other research analysts also recently commented on the company. Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Bank of America upped their price objective on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Susquehanna upped their price objective on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research note on Friday, October 25th. TD Cowen lifted their price target on TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Barclays upped their price objective on shares of TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, TechnipFMC currently has an average rating of “Buy” and a consensus price target of $33.60.

TechnipFMC Stock Down 1.5 %

Shares of FTI stock traded down $0.43 during trading hours on Thursday, reaching $28.06. The company had a trading volume of 1,801,099 shares, compared to its average volume of 4,011,227. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The business has a fifty day simple moving average of $26.45 and a 200-day simple moving average of $26.34. TechnipFMC has a 12 month low of $18.33 and a 12 month high of $29.85. The company has a market cap of $11.94 billion, a price-to-earnings ratio of 18.74 and a beta of 1.51.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 earnings per share. On average, research analysts expect that TechnipFMC will post 1.47 earnings per share for the current fiscal year.

TechnipFMC declared that its Board of Directors has authorized a share buyback plan on Wednesday, October 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC’s payout ratio is currently 13.16%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FTI. Millburn Ridgefield Corp bought a new position in shares of TechnipFMC during the third quarter valued at $189,000. Morse Asset Management Inc lifted its stake in shares of TechnipFMC by 2.6% in the third quarter. Morse Asset Management Inc now owns 68,075 shares of the oil and gas company’s stock worth $1,786,000 after buying an additional 1,745 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of TechnipFMC by 68.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company’s stock valued at $44,454,000 after buying an additional 688,622 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in TechnipFMC in the 3rd quarter worth approximately $311,000. Finally, True Wealth Design LLC bought a new position in TechnipFMC in the 3rd quarter valued at approximately $57,000. 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.