TechnipFMC (NYSE:FTI) Now Covered by Royal Bank of Canada

Royal Bank of Canada began coverage on shares of TechnipFMC (NYSE:FTI) in a research report report published on Monday, Marketbeat reports. The brokerage issued an outperform rating and a $37.00 price objective on the oil and gas company’s stock.

Several other research firms also recently issued reports on FTI. HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Tuesday, October 29th. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Susquehanna upped their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research report on Friday, October 25th. Barclays upped their target price on TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. One research 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 stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $33.91.

TechnipFMC Stock Up 1.2 %

FTI stock opened at $28.51 on Monday. The business’s 50 day simple moving average is $26.63 and its 200 day simple moving average is $26.38. The firm has a market capitalization of $12.13 billion, a PE ratio of 18.76 and a beta of 1.51. TechnipFMC has a 1-year low of $18.33 and a 1-year high of $29.85. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

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 the consensus estimate of $0.39 by $0.25. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 EPS. As a group, research analysts anticipate that TechnipFMC will post 1.55 EPS for the current year.

TechnipFMC announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.70%. TechnipFMC’s dividend payout ratio is currently 13.16%.

Hedge Funds Weigh In On TechnipFMC

A number of institutional investors and hedge funds have recently bought and sold shares of FTI. Janney Montgomery Scott LLC acquired a new position in TechnipFMC in the 1st quarter worth about $205,000. Envestnet Portfolio Solutions Inc. acquired a new position in TechnipFMC in the 1st quarter worth about $236,000. Vanguard Group Inc. increased its holdings in TechnipFMC by 0.3% in 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 purchasing an additional 134,880 shares in the last quarter. Edgestream Partners L.P. acquired a new position in TechnipFMC in the 1st quarter worth about $965,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in TechnipFMC in the 1st quarter worth about $442,000. 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.