TechnipFMC (NYSE:FTI) Raised to “Buy” at HSBC

TechnipFMC (NYSE:FTI) was upgraded by equities research analysts at HSBC from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has a $32.00 price target on the oil and gas company’s stock. HSBC’s price target would suggest a potential upside of 22.65% from the company’s previous close.

Several other research analysts have also commented on FTI. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Monday, October 21st. Bank of America raised their target price on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 14th. TD Cowen boosted their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Susquehanna lifted their price objective on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. Finally, BMO Capital Markets upped their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, October 10th. Two equities research 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.41.

TechnipFMC Stock Down 0.0 %

Shares of FTI opened at $26.09 on Tuesday. The company’s 50-day moving average price is $26.12 and its 200 day moving average price is $26.18. TechnipFMC has a 12-month low of $18.33 and a 12-month high of $29.85. 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 market cap of $11.10 billion, a P/E ratio of 17.16 and a beta of 1.50.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The business’s revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS. On average, sell-side analysts forecast that TechnipFMC will post 1.38 earnings per share for the current year.

TechnipFMC declared that its board has initiated a share buyback program on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On TechnipFMC

Several institutional investors have recently added to or reduced their stakes in the stock. Hardman Johnston Global Advisors LLC grew its stake in shares of TechnipFMC by 13.5% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock valued at $236,482,000 after purchasing an additional 1,071,103 shares during the last quarter. HMS Capital Management LLC acquired a new stake in shares of TechnipFMC during the third quarter worth $341,000. Vestor Capital LLC grew its position in TechnipFMC by 31.6% in the 3rd quarter. Vestor Capital LLC now owns 599,459 shares of the oil and gas company’s stock valued at $15,724,000 after buying an additional 143,990 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in TechnipFMC in the 3rd quarter valued at $241,000. Finally, Cannon Global Investment Management LLC increased its stake in TechnipFMC by 96.8% in the 3rd quarter. Cannon Global Investment Management LLC now owns 61,000 shares of the oil and gas company’s stock valued at $1,600,000 after buying an additional 30,000 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

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.