TechnipFMC plc (NYSE:FTI) Given Consensus Rating of “Buy” by Analysts

TechnipFMC plc (NYSE:FTI) has been assigned a consensus recommendation of “Buy” from the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $33.30.

A number of research firms have recently weighed in on FTI. Barclays boosted their price objective on shares of TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. TD Cowen boosted their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, October 25th. Susquehanna raised their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. BMO Capital Markets lifted their price objective on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. Finally, StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st.

TechnipFMC Stock Up 0.4 %

FTI opened at $29.14 on Friday. TechnipFMC has a one year low of $18.33 and a one year high of $29.85. The company has a market cap of $12.40 billion, a price-to-earnings ratio of 19.17 and a beta of 1.51. The business’s fifty day moving average is $26.33 and its two-hundred day moving average is $26.31. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm’s revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 EPS. Analysts anticipate that TechnipFMC will post 1.47 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.69%. The ex-dividend date is Tuesday, November 19th. TechnipFMC’s dividend payout ratio (DPR) is 13.16%.

TechnipFMC declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On TechnipFMC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in shares of TechnipFMC by 43.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,405 shares of the oil and gas company’s stock worth $211,000 after purchasing an additional 2,543 shares during the last quarter. Norden Group LLC grew its position in TechnipFMC by 99.9% during the 1st quarter. Norden Group LLC now owns 25,260 shares of the oil and gas company’s stock worth $634,000 after purchasing an additional 12,626 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in TechnipFMC during the 1st quarter valued at $205,000. Whittier Trust Co. purchased a new stake in shares of TechnipFMC in the first quarter valued at $29,000. Finally, GSA Capital Partners LLP purchased a new position in shares of TechnipFMC during the first quarter valued at $656,000. Institutional investors own 96.58% of the company’s stock.

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.