StockNews.com Upgrades TechnipFMC (NYSE:FTI) to “Buy”

StockNews.com upgraded shares of TechnipFMC (NYSE:FTI) from a hold rating to a buy rating in a research note released on Monday.

Other equities research analysts also recently issued reports about the company. Susquehanna lifted their price objective on TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Citigroup upped their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. BMO Capital Markets raised their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, October 10th. Finally, Bank of America upped their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, TechnipFMC has a consensus rating of “Moderate Buy” and a consensus price target of $30.74.

TechnipFMC Trading Down 0.7 %

NYSE FTI opened at $25.43 on Monday. The stock has a market cap of $10.96 billion, a P/E ratio of 54.10 and a beta of 1.50. The company’s fifty day simple moving average is $26.21 and its 200-day simple moving average is $26.21. 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 has a 52 week low of $18.33 and a 52 week high of $29.85.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.23 billion. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 EPS. Equities research analysts predict that TechnipFMC will post 1.37 EPS for the current fiscal year.

Hedge Funds Weigh In On TechnipFMC

Hedge funds and other institutional investors have recently made changes to their positions in the business. Whittier Trust Co. bought a new stake in TechnipFMC during the 1st quarter valued at $29,000. Blue Trust Inc. raised its stake in shares of TechnipFMC by 203.6% during the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 735 shares in the last quarter. GAMMA Investing LLC lifted its holdings in TechnipFMC by 73.1% in the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 492 shares during the period. ORG Wealth Partners LLC bought a new position in TechnipFMC in the 3rd quarter valued at about $30,000. Finally, ORG Partners LLC acquired a new position in TechnipFMC during the 2nd quarter valued at about $33,000. 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.