Redburn Atlantic Equities Analysts Increase Earnings Estimates for TechnipFMC plc (NYSE:FTI)

TechnipFMC plc (NYSE:FTI) – Analysts at Redburn Atlantic boosted their FY2024 earnings per share (EPS) estimates for shares of TechnipFMC in a research note issued to investors on Tuesday, October 8th. Redburn Atlantic analyst S. Toyne now forecasts that the oil and gas company will post earnings per share of $1.39 for the year, up from their previous forecast of $1.33. The consensus estimate for TechnipFMC’s current full-year earnings is $1.34 per share.

Other analysts have also recently issued reports about the stock. BMO Capital Markets increased their price target on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday. Citigroup increased their price objective on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. StockNews.com downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, Susquehanna raised their price target on TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.80.

TechnipFMC Trading Up 1.5 %

FTI opened at $27.49 on Thursday. TechnipFMC has a 1-year low of $18.33 and a 1-year high of $29.85. The stock has a market capitalization of $11.85 billion, a PE ratio of 58.49 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. The firm has a 50-day moving average price of $26.13 and a two-hundred day moving average price of $26.16.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the company earned $0.10 EPS. TechnipFMC’s revenue for the quarter was up 17.9% on a year-over-year basis.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of TechnipFMC by 8.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock valued at $1,019,337,000 after buying an additional 3,259,348 shares during the period. Anomaly Capital Management LP boosted its stake in TechnipFMC by 50.3% in 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 purchasing an additional 1,144,087 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in TechnipFMC by 56.7% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,954,356 shares of the oil and gas company’s stock worth $74,184,000 after purchasing an additional 1,068,788 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of TechnipFMC by 391.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,036,797 shares of the oil and gas company’s stock valued at $27,112,000 after purchasing an additional 825,842 shares during the period. Finally, Yaupon Capital Management LP lifted its holdings in shares of TechnipFMC by 4,931.0% in the first quarter. Yaupon Capital Management LP now owns 805,305 shares of the oil and gas company’s stock valued at $20,221,000 after purchasing an additional 789,298 shares in the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th were issued a $0.05 dividend. 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 dividend payout ratio (DPR) is 42.55%.

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.