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

TechnipFMC plc (NYSE:FTI) has been given an average recommendation of “Buy” by the thirteen analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $35.92.

Several equities analysts have recently commented on the stock. Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and upped their price objective for the stock from $29.00 to $40.00 in a report on Friday, December 6th. Susquehanna upped their price target on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a research note on Friday, October 25th. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Piper Sandler initiated coverage on TechnipFMC in a report on Thursday, December 19th. They issued an “overweight” rating and a $39.00 price objective on the stock. Finally, Barclays raised their target price on TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th.

TechnipFMC Price Performance

NYSE:FTI opened at $28.95 on Friday. TechnipFMC has a 52 week low of $18.33 and a 52 week high of $32.64. The stock’s fifty day moving average is $28.92 and its two-hundred day moving average is $27.28. The company has a market capitalization of $12.32 billion, a P/E ratio of 19.05 and a beta of 1.54. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 EPS. The company’s quarterly revenue was up 14.2% on a year-over-year basis. Equities analysts expect that TechnipFMC will post 1.61 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.69%. The ex-dividend date was Tuesday, November 19th. TechnipFMC’s dividend payout ratio (DPR) is presently 13.16%.

TechnipFMC announced that its Board of Directors has authorized a share buyback plan 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 plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Trading of TechnipFMC

A number of hedge funds and other institutional investors have recently bought and sold shares of FTI. Blue Trust Inc. raised its holdings in TechnipFMC by 203.6% during the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 735 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of TechnipFMC in the 3rd quarter valued at $30,000. GAMMA Investing LLC raised its stake in TechnipFMC by 59.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 693 shares in the last quarter. Toth Financial Advisory Corp lifted its position in TechnipFMC by 1,900.0% in the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock valued at $52,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in TechnipFMC in the third quarter valued at $56,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

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.