TechnipFMC (NYSE:FTI) Raised to “Buy” at HSBC

HSBC upgraded shares of TechnipFMC (NYSE:FTI) from a hold rating to a buy rating in a research note released on Tuesday morning, MarketBeat reports. They currently have $32.00 target price on the oil and gas company’s stock.

FTI has been the subject of several other reports. Citigroup lifted their price target on TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. TD Cowen upped their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barclays raised their target price on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Bank of America boosted their price target on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $32.41.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $26.28 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $11.18 billion, a P/E ratio of 17.29 and a beta of 1.50. TechnipFMC has a 12 month low of $18.33 and a 12 month high of $29.85. The stock has a 50 day moving average of $26.12 and a 200-day moving average of $26.19.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results 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 business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. TechnipFMC’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 EPS. As a group, equities research analysts predict that TechnipFMC will post 1.42 EPS for the current year.

TechnipFMC declared that its board 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 reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

TechnipFMC Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC’s dividend payout ratio is presently 13.16%.

Institutional Trading of TechnipFMC

A number of hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. acquired a new position in shares of TechnipFMC during the third quarter worth $265,000. Capital Performance Advisors LLP acquired a new stake in shares of TechnipFMC during the 3rd quarter valued at $56,000. Hardman Johnston Global Advisors LLC grew its position in TechnipFMC by 13.5% during the 3rd 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 acquiring an additional 1,071,103 shares during the last quarter. HMS Capital Management LLC acquired a new position in TechnipFMC in the 3rd quarter worth about $341,000. Finally, Vestor Capital LLC increased its holdings in TechnipFMC by 31.6% in the 3rd quarter. Vestor Capital LLC now owns 599,459 shares of the oil and gas company’s stock worth $15,724,000 after purchasing an additional 143,990 shares in the last quarter. Institutional investors and hedge funds 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.