Citigroup Issues Positive Forecast for TechnipFMC (NYSE:FTI) Stock Price

TechnipFMC (NYSE:FTI) had its target price hoisted by Citigroup from $34.00 to $35.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

Several other equities analysts also recently issued reports on the stock. Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. BMO Capital Markets raised their price target on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, October 10th. Bank of America upped their price objective 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. Susquehanna increased their price objective on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. Finally, Barclays upped their price target on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, TechnipFMC has an average rating of “Buy” and an average target price of $33.60.

TechnipFMC Trading Down 1.1 %

Shares of FTI stock opened at $28.18 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $26.54 and a 200-day simple moving average of $26.36. TechnipFMC has a fifty-two week low of $18.33 and a fifty-two week high of $29.85. The stock has a market cap of $11.99 billion, a P/E ratio of 18.54 and a beta of 1.51.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the business earned $0.21 earnings per share. The company’s quarterly revenue was up 14.2% on a year-over-year basis. On average, analysts forecast that TechnipFMC will post 1.55 earnings per share for the current fiscal year.

TechnipFMC announced that its board has initiated a stock repurchase program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders 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 dividend on an annualized basis and a yield of 0.71%. TechnipFMC’s dividend payout ratio (DPR) is 13.16%.

Hedge Funds Weigh In On TechnipFMC

A number of hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its holdings in TechnipFMC by 8.7% in the 1st 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 purchasing an additional 3,259,348 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of TechnipFMC by 0.3% during the first 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. Hardman Johnston Global Advisors LLC boosted its position in shares of TechnipFMC by 13.5% in the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock worth $236,482,000 after buying an additional 1,071,103 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of TechnipFMC by 2.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company’s stock valued at $228,384,000 after buying an additional 204,435 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of TechnipFMC by 1.7% during the 3rd quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock valued at $215,100,000 after buying an additional 133,775 shares during the period. Hedge funds and other institutional investors 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.