TechnipFMC (NYSE:FTI) Posts Earnings Results, Beats Expectations By $0.12 EPS

TechnipFMC (NYSE:FTI) released its quarterly earnings data on Thursday. The oil and gas company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12, Briefing.com reports. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.23 billion. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 earnings per share. TechnipFMC updated its FY 2024 guidance to EPS.

TechnipFMC Trading Up 1.7 %

Shares of FTI traded up $0.49 during trading on Friday, reaching $28.87. 4,889,331 shares of the company traded hands, compared to its average volume of 4,189,072. TechnipFMC has a twelve month low of $17.36 and a twelve month high of $29.24. The stock has a market cap of $12.44 billion, a PE ratio of 61.47 and a beta of 1.52. The stock has a 50-day simple moving average of $25.99 and a 200-day simple moving average of $24.00. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.31.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Tuesday, August 20th. TechnipFMC’s dividend payout ratio is presently 42.55%.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, CAO David Light sold 5,928 shares of TechnipFMC stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total transaction of $153,001.68. Following the completion of the sale, the chief accounting officer now directly owns 11,534 shares in the company, valued at $297,692.54. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FTI shares. Piper Sandler increased their price objective on shares of TechnipFMC from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Benchmark reissued a “buy” rating and set a $30.00 price target on shares of TechnipFMC in a report on Friday, April 26th. TD Cowen increased their price target on shares of TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Susquehanna increased their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a report on Friday. Finally, StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Sunday, April 28th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.62.

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.