TechnipFMC plc (NYSE:FTI) Plans Quarterly Dividend of $0.05

TechnipFMC plc (NYSE:FTI) announced a quarterly dividend on Wednesday, October 23rd,RTT News reports. Shareholders of record on Tuesday, November 19th will be given a dividend of 0.05 per share by the oil and gas company on Wednesday, December 4th. 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 has decreased its dividend by an average of 8.4% per year over the last three years. TechnipFMC has a payout ratio of 10.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect TechnipFMC to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 10.3%.

TechnipFMC Price Performance

FTI opened at $28.18 on Friday. TechnipFMC has a 1 year low of $18.33 and a 1 year high of $29.85. The company’s 50 day simple moving average is $26.54 and its 200 day simple moving average is $26.36. The stock has a market capitalization of $11.99 billion, a PE ratio of 18.54 and a beta of 1.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. TechnipFMC’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the business earned $0.21 EPS. As a group, sell-side analysts expect that TechnipFMC will post 1.55 EPS for the current year.

Analyst Ratings Changes

FTI has been the subject of a number of research analyst reports. Citigroup increased their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America raised their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Susquehanna increased their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. TD Cowen boosted their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, BMO Capital Markets increased their target price on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $33.60.

TechnipFMC declared that its board has approved a share repurchase program on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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.