TechnipFMC plc (NYSE:FTI) Receives Consensus Recommendation of “Buy” from Brokerages

TechnipFMC plc (NYSE:FTI) has earned a consensus rating of “Buy” from the thirteen analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $35.92.

FTI has been the subject of several research analyst reports. Susquehanna raised 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. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Tuesday, October 29th. The Goldman Sachs Group initiated coverage on TechnipFMC in a research note on Friday, December 13th. They issued a “buy” rating and a $38.00 price target on the stock. Bank of America lifted their price objective on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. raised its stake in TechnipFMC by 23.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after buying an additional 679,748 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in TechnipFMC by 971.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock valued at $10,692,000 after acquiring an additional 369,594 shares during the period. ING Groep NV boosted its position in TechnipFMC by 15.3% in the third quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock worth $22,697,000 after purchasing an additional 114,600 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of TechnipFMC during the 3rd quarter valued at about $49,273,000. Finally, Entropy Technologies LP purchased a new stake in shares of TechnipFMC during the 3rd quarter valued at about $575,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Stock Down 0.4 %

NYSE FTI opened at $29.04 on Friday. TechnipFMC has a 1 year low of $18.33 and a 1 year high of $32.64. The stock has a market capitalization of $12.35 billion, a PE ratio of 19.11 and a beta of 1.54. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The business’s 50-day moving average is $28.92 and its 200 day moving average is $27.25.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period last year, the company earned $0.21 EPS. Sell-side analysts forecast that TechnipFMC will post 1.61 earnings per share for the current year.

TechnipFMC announced that its Board of Directors has approved a share repurchase program on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

TechnipFMC Announces Dividend

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

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.