TechnipFMC PLC (NYSE:FTI) has received an average rating of “Buy” from the twenty-five analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $31.08.
FTI has been the topic of a number of research analyst reports. ValuEngine raised shares of TechnipFMC from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. AltaCorp Capital reissued an “outperform” rating on shares of TechnipFMC in a research report on Thursday, June 20th. Barclays cut their price objective on shares of TechnipFMC from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 15th. Cowen reissued a “buy” rating and set a $28.00 price objective on shares of TechnipFMC in a research report on Thursday, July 11th. Finally, TheStreet raised shares of TechnipFMC from a “c+” rating to a “b-” rating in a research report on Wednesday, July 10th.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nissay Asset Management Corp Japan ADV bought a new position in TechnipFMC in the 1st quarter valued at about $1,820,000. NEXT Financial Group Inc lifted its position in TechnipFMC by 13.0% in the 2nd quarter. NEXT Financial Group Inc now owns 3,624 shares of the oil and gas company’s stock valued at $94,000 after acquiring an additional 416 shares in the last quarter. Swiss National Bank lifted its position in TechnipFMC by 2.6% in the 1st quarter. Swiss National Bank now owns 1,436,004 shares of the oil and gas company’s stock valued at $33,775,000 after acquiring an additional 35,800 shares in the last quarter. Jennison Associates LLC lifted its position in TechnipFMC by 0.4% in the 1st quarter. Jennison Associates LLC now owns 2,087,266 shares of the oil and gas company’s stock valued at $49,092,000 after acquiring an additional 8,796 shares in the last quarter. Finally, Barings LLC bought a new position in TechnipFMC in the 1st quarter valued at about $226,000. 72.65% of the stock is currently owned by institutional investors and hedge funds.
TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.04. TechnipFMC had a positive return on equity of 2.76% and a negative net margin of 15.64%. The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period last year, the business posted $0.28 EPS. The business’s revenue was up 16.0% compared to the same quarter last year. Analysts anticipate that TechnipFMC will post 1.29 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th will be given a $0.13 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.52 annualized dividend and a yield of 2.19%.
TechnipFMC Company Profile
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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