Analysts Set TechnipFMC plc (NYSE:FTI) Price Target at $35.92

TechnipFMC plc (NYSE:FTI) has been given a consensus rating of “Buy” by the thirteen ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $35.92.

Several brokerages have recently weighed in on FTI. Barclays raised their target price on TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Piper Sandler assumed coverage on TechnipFMC in a report on Thursday, December 19th. They set an “overweight” rating and a $39.00 price objective on the stock. Bank of America increased their target price on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. BMO Capital Markets lifted their price target on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, October 10th. Finally, Susquehanna increased 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.

Hedge Funds Weigh In On TechnipFMC

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in TechnipFMC by 10.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,322,346 shares of the oil and gas company’s stock valued at $34,579,000 after purchasing an additional 126,142 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in TechnipFMC by 68.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 14,157 shares of the oil and gas company’s stock worth $370,000 after buying an additional 5,752 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in TechnipFMC by 2.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 97,923 shares of the oil and gas company’s stock valued at $2,531,000 after acquiring an additional 2,360 shares during the period. Panagora Asset Management Inc. bought a new stake in TechnipFMC during the 2nd quarter valued at $221,000. Finally, Hantz Financial Services Inc. acquired a new position in TechnipFMC during the 2nd quarter worth $715,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $31.35 on Friday. 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 has a 1-year low of $18.33 and a 1-year high of $32.64. The company has a market capitalization of $13.34 billion, a price-to-earnings ratio of 20.63 and a beta of 1.54. The business has a 50-day moving average of $29.31 and a 200-day moving average of $27.42.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 earnings per share. On average, equities analysts anticipate that TechnipFMC will post 1.61 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.64%. TechnipFMC’s dividend payout ratio is currently 13.16%.

TechnipFMC announced that its Board of Directors has authorized a stock buyback program on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are 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.