TechnipFMC plc to Issue Quarterly Dividend of $0.05 (NYSE:FTI)

TechnipFMC plc (NYSE:FTI) announced a quarterly dividend on Wednesday, October 23rd, RTT News reports. Stockholders of record on Tuesday, November 19th will be given a dividend of 0.05 per share by the oil and gas company on Wednesday, December 4th. This represents a $0.20 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 19th.

TechnipFMC has decreased its dividend by an average of 8.4% annually over the last three years. TechnipFMC has a payout ratio of 10.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect TechnipFMC to earn $1.90 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 10.5%.

TechnipFMC Stock Performance

TechnipFMC stock opened at $25.86 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.84. The firm has a market capitalization of $11.14 billion, a P/E ratio of 55.02 and a beta of 1.50. TechnipFMC has a 52-week low of $18.33 and a 52-week high of $29.85. The stock has a fifty day moving average price of $26.14 and a two-hundred day moving average price of $26.18.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same period in the previous year, the business posted $0.10 earnings per share. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, analysts anticipate that TechnipFMC will post 1.37 EPS for the current fiscal year.

TechnipFMC declared that its board has initiated a stock repurchase program on Wednesday, October 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently commented on FTI. Citigroup lifted their target price on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a report on Monday. Bank of America raised their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Susquehanna boosted their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Finally, BMO Capital Markets raised their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.74.

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.