TechnipFMC (NYSE:FTI) Reaches New 52-Week High – Time to Buy?

TechnipFMC plc (NYSE:FTI) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $31.53 and last traded at $31.25, with a volume of 251716 shares changing hands. The stock had previously closed at $31.04.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FTI. Royal Bank of Canada began coverage on TechnipFMC in a research note on Monday, November 18th. They issued an “outperform” rating and a $37.00 price target on the stock. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. TD Cowen reaffirmed a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a research report on Wednesday. Citigroup upped their target price on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, BMO Capital Markets upped their target price on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, TechnipFMC currently has an average rating of “Buy” and a consensus target price of $33.91.

TechnipFMC Price Performance

The company has a fifty day moving average of $27.44 and a 200-day moving average of $26.56. The firm has a market cap of $13.19 billion, a P/E ratio of 20.40 and a beta of 1.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. On average, sell-side analysts anticipate that TechnipFMC plc will post 1.58 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.64%. TechnipFMC’s dividend payout ratio (DPR) is presently 13.16%.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. lifted its position in shares of TechnipFMC by 23.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after buying an additional 679,748 shares during the last quarter. Sanctuary Advisors LLC lifted its position in shares of TechnipFMC by 264.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,783 shares of the oil and gas company’s stock valued at $755,000 after buying an additional 20,877 shares during the last quarter. Morse Asset Management Inc lifted its position in shares of TechnipFMC by 1.9% during the 3rd quarter. Morse Asset Management Inc now owns 67,575 shares of the oil and gas company’s stock valued at $1,772,000 after buying an additional 1,245 shares during the last quarter. TCW Group Inc. purchased a new position in shares of TechnipFMC during the 3rd quarter valued at $6,049,000. Finally, M&T Bank Corp lifted its position in shares of TechnipFMC by 18.8% during the 3rd quarter. M&T Bank Corp now owns 20,602 shares of the oil and gas company’s stock valued at $541,000 after buying an additional 3,255 shares during the last quarter. Institutional investors 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.