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

Shares of TechnipFMC plc (NYSE:FTI) have been given a consensus rating of “Buy” by the fourteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $36.15.

Several research firms have recently commented on FTI. The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 target price on the stock. Hsbc Global Res upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Citigroup raised their price objective on TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Tuesday, October 29th. Finally, Barclays increased their price target on TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Hardman Johnston Global Advisors LLC raised its holdings in TechnipFMC by 13.5% during the third 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 purchasing an additional 1,071,103 shares in the last quarter. State Street Corp lifted its holdings in shares of TechnipFMC by 1.7% in the 3rd quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock valued at $215,100,000 after buying an additional 133,775 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of TechnipFMC in the third quarter valued at about $185,643,000. Franklin Resources Inc. boosted its position in TechnipFMC by 23.0% during the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock worth $98,838,000 after purchasing an additional 679,748 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of TechnipFMC by 6.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,399,822 shares of the oil and gas company’s stock valued at $89,177,000 after purchasing an additional 219,081 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Trading Down 1.0 %

Shares of NYSE:FTI opened at $31.40 on Wednesday. TechnipFMC has a 12-month low of $18.53 and a 12-month high of $33.45. The company has a market cap of $13.36 billion, a PE ratio of 20.66 and a beta of 1.54. The stock has a 50 day moving average of $30.71 and a 200 day moving average of $28.12. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI) last posted 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. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was up 14.2% on a year-over-year basis. As a group, equities research analysts expect that TechnipFMC will post 1.62 EPS for the current year.

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

TechnipFMC Company Profile

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.