FY2024 EPS Estimates for TechnipFMC Raised by Zacks Research

TechnipFMC plc (NYSE:FTI) – Research analysts at Zacks Research boosted their FY2024 earnings estimates for shares of TechnipFMC in a research report issued on Wednesday, January 22nd. Zacks Research analyst N. Choudhury now anticipates that the oil and gas company will earn $1.59 per share for the year, up from their previous forecast of $1.58. The consensus estimate for TechnipFMC’s current full-year earnings is $1.62 per share. Zacks Research also issued estimates for TechnipFMC’s Q4 2024 earnings at $0.30 EPS and Q4 2026 earnings at $0.55 EPS.

A number of other equities research analysts have also recently issued reports on FTI. Piper Sandler initiated coverage on shares of TechnipFMC in a research report on Thursday, December 19th. They issued an “overweight” rating and a $39.00 target price for the company. Royal Bank of Canada initiated coverage on shares of TechnipFMC in a report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price objective for the company. Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and increased their target price for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. Susquehanna lifted their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research report on Friday, October 25th. Finally, BMO Capital Markets increased their price target on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, TechnipFMC has an average rating of “Buy” and a consensus price target of $36.15.

TechnipFMC Stock Performance

FTI opened at $31.69 on Friday. 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 has a fifty day simple moving average of $30.64 and a 200 day simple moving average of $28.06. TechnipFMC has a 1 year low of $18.53 and a 1 year high of $33.45. The company has a market capitalization of $13.48 billion, a PE ratio of 20.85 and a beta of 1.54.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.39 by $0.25. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 earnings per share.

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

Institutional Trading of TechnipFMC

A number of large investors have recently modified their holdings of the business. Blue Trust Inc. raised its position in TechnipFMC by 203.6% during the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 735 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of TechnipFMC during the 3rd quarter valued at about $30,000. GAMMA Investing LLC raised its holdings in shares of TechnipFMC by 59.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 693 shares in the last quarter. Toth Financial Advisory Corp lifted its position in TechnipFMC by 1,900.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock worth $52,000 after buying an additional 1,900 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in TechnipFMC in the third quarter worth approximately $56,000. 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.