TechnipFMC (NYSE:FTI) Upgraded at StockNews.com

TechnipFMC (NYSE:FTI) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other research firms also recently commented on FTI. TD Cowen lifted their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, October 25th. HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Tuesday, October 29th. BMO Capital Markets raised 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. Citigroup raised their target price on TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Susquehanna raised their target price on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, TechnipFMC presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.41.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $26.28 on Friday. TechnipFMC has a 1-year low of $18.33 and a 1-year high of $29.85. 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 moving average price of $26.12 and a 200-day moving average price of $26.19. The company has a market capitalization of $11.18 billion, a PE ratio of 17.29 and a beta of 1.51.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the company earned $0.21 earnings per share. The company’s revenue was up 14.2% on a year-over-year basis. As a group, equities analysts expect that TechnipFMC will post 1.42 EPS for the current fiscal year.

TechnipFMC declared that its board has authorized a stock buyback program 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 repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FTI. Price T Rowe Associates Inc. MD raised its holdings in shares of TechnipFMC by 8.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock worth $1,019,337,000 after acquiring an additional 3,259,348 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of TechnipFMC by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock worth $1,005,652,000 after acquiring an additional 134,880 shares in the last quarter. Hardman Johnston Global Advisors LLC raised its holdings in shares of TechnipFMC by 13.5% during the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock worth $236,482,000 after acquiring an additional 1,071,103 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of TechnipFMC by 2.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company’s stock worth $228,384,000 after acquiring an additional 204,435 shares in the last quarter. Finally, Anomaly Capital Management LP raised its holdings in shares of TechnipFMC by 50.3% during the 2nd quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock worth $89,429,000 after acquiring an additional 1,144,087 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

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.