HSBC upgraded shares of TechnipFMC (NYSE:FTI - Free Report) from a hold rating to a buy rating in a report issued on Tuesday morning, MarketBeat.com reports. The firm currently has $32.00 price objective on the oil and gas company's stock.
FTI has been the topic of a number of other research reports. Bank of America lifted their price target on TechnipFMC from $30.00 to $31.00 and gave the company a "buy" rating in a report on Monday, October 14th. 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 note on Thursday, October 10th. Barclays lifted their price objective on shares of TechnipFMC from $34.00 to $37.00 and gave the company an "overweight" rating in a research note on Monday. Susquehanna increased their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a "positive" rating in a research report on Friday. Finally, Citigroup boosted their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.41.
Check Out Our Latest Stock Analysis on FTI
TechnipFMC Stock Performance
FTI traded up $0.02 during trading on Tuesday, reaching $26.10. 3,038,000 shares of the company were exchanged, compared to its average volume of 4,082,359. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The stock has a market cap of $11.10 billion, a P/E ratio of 17.17 and a beta of 1.50. TechnipFMC has a 52 week low of $18.33 and a 52 week high of $29.85. The firm has a 50 day moving average of $26.12 and a 200 day moving average of $26.18.
TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.39 by $0.25. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The company's quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 earnings per share. On average, sell-side analysts forecast that TechnipFMC will post 1.38 EPS for the current fiscal year.
TechnipFMC Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC's dividend payout ratio is presently 13.16%.
TechnipFMC announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.
Institutional Trading of TechnipFMC
Institutional investors and hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. acquired a new stake in shares of TechnipFMC in the first quarter worth $29,000. Blue Trust Inc. boosted its position in TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company's stock worth $29,000 after acquiring an additional 735 shares during the period. GAMMA Investing LLC increased its holdings in shares of TechnipFMC by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 492 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of TechnipFMC in the third quarter worth approximately $30,000. Finally, ORG Partners LLC purchased a new stake in shares of TechnipFMC in the second quarter worth approximately $33,000. Institutional investors and hedge funds own 96.58% of the company's stock.
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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