TechnipFMC plc (NYSE:FTI) Receives $29.38 Consensus Price Target from Analysts

Shares of TechnipFMC plc (NYSE:FTI) have earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $29.51.

FTI has been the subject of several recent research reports. Citigroup upped their price target on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Susquehanna lifted their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Finally, StockNews.com cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th.

TechnipFMC Trading Up 3.3 %

Shares of TechnipFMC stock opened at $27.22 on Thursday. TechnipFMC has a 1 year low of $18.33 and a 1 year high of $29.85. The company’s fifty day simple moving average is $26.53 and its 200-day simple moving average is $25.82. The company has a market cap of $11.73 billion, a price-to-earnings ratio of 57.91 and a beta of 1.50. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.12. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.23 billion. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period last year, the business posted $0.10 EPS. As a group, sell-side analysts expect that TechnipFMC will post 1.34 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Tuesday, August 20th. TechnipFMC’s payout ratio is 42.55%.

Insider Activity

In other TechnipFMC news, CAO David Light sold 5,928 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $25.81, for a total value of $153,001.68. Following the transaction, the chief accounting officer now owns 11,534 shares of the company’s stock, valued at $297,692.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TechnipFMC

Large investors have recently modified their holdings of the stock. Brown Advisory Inc. acquired a new position in shares of TechnipFMC during the fourth quarter valued at $830,000. Norden Group LLC lifted 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 purchasing an additional 366,266 shares during the period. Vanguard Group Inc. boosted its stake in shares of TechnipFMC by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 39,914,980 shares of the oil and gas company’s stock valued at $803,888,000 after purchasing an additional 126,247 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of TechnipFMC in the 1st quarter valued at about $965,000. Finally, Balyasny Asset Management L.P. grew its position in shares of TechnipFMC by 868.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock worth $63,082,000 after buying an additional 2,808,618 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

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.