TechnipFMC plc (NYSE:FTI - Free Report) - Equities research analysts at Zacks Research boosted their FY2024 EPS estimates for shares of TechnipFMC in a research note issued to investors on Wednesday, January 22nd. Zacks Research analyst N. Choudhury now forecasts that the oil and gas company will earn $1.59 per share for the year, up from their prior estimate 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.
TechnipFMC (NYSE:FTI - Get Free Report) last issued 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 company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company's quarterly revenue was up 14.2% compared to the same quarter last year. During the same period last year, the company earned $0.21 earnings per share.
Several other brokerages have also issued reports on FTI. Citigroup boosted their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, November 14th. TD Cowen reissued a "buy" rating and set a $37.00 price objective on shares of TechnipFMC in a report on Wednesday, November 27th. Hsbc Global Res raised TechnipFMC from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 29th. Evercore ISI boosted their target price on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a report on Wednesday, January 15th. Finally, Susquehanna upped their target price on TechnipFMC from $35.00 to $37.00 and gave the company a "positive" rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $36.15.
Read Our Latest Stock Report on FTI
TechnipFMC Stock Down 1.0 %
NYSE FTI traded down $0.33 during trading on Friday, hitting $31.40. 1,929,398 shares of the company traded hands, compared to its average volume of 3,563,480. TechnipFMC has a 12 month low of $18.53 and a 12 month high of $33.45. The company has a market capitalization of $13.36 billion, a P/E ratio of 20.66 and a beta of 1.54. 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 business has a fifty day simple moving average of $30.71 and a 200 day simple moving average of $28.10.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. grew its holdings in TechnipFMC by 23.0% in the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock valued at $98,838,000 after purchasing an additional 679,748 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of TechnipFMC by 971.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company's stock worth $10,692,000 after buying an additional 369,594 shares in the last quarter. ING Groep NV increased its holdings in shares of TechnipFMC by 15.3% in the third quarter. ING Groep NV now owns 865,294 shares of the oil and gas company's stock valued at $22,697,000 after buying an additional 114,600 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of TechnipFMC in the 3rd quarter valued at approximately $49,273,000. Finally, Entropy Technologies LP acquired a new stake in shares of TechnipFMC during the third quarter worth approximately $575,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.
TechnipFMC declared that its board has approved a stock buyback plan on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors believes its shares are undervalued.
About TechnipFMC
(
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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.
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