TechnipFMC (NYSE:FTI) Rating Increased to Strong-Buy at Hsbc Global Res

TechnipFMC (NYSE:FTI - Get Free Report) was upgraded by Hsbc Global Res from a "hold" rating to a "strong-buy" rating in a research report issued on Tuesday, Zacks.com reports.

A number of other research firms have also weighed in on FTI. Susquehanna upped their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a "positive" rating in a research note on Friday, October 25th. Bank of America boosted their target price on TechnipFMC from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Barclays boosted their target price on TechnipFMC from $34.00 to $37.00 and gave the stock an "overweight" rating in a research report on Monday. TD Cowen boosted their target price on TechnipFMC from $35.00 to $37.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Finally, Citigroup upped their price objective on TechnipFMC from $31.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $32.41.

TechnipFMC Trading Down 0.0 %

FTI stock traded down $0.01 during trading on Tuesday, hitting $26.09. 3,224,945 shares of the company traded hands, compared to its average volume of 4,078,276. TechnipFMC has a 1 year low of $18.33 and a 1 year high of $29.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.10. The company has a 50-day moving average of $26.12 and a 200-day moving average of $26.18. The firm has a market capitalization of $11.10 billion, a PE ratio of 17.17 and a beta of 1.50.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.25. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the company earned $0.21 EPS. The business's revenue was up 14.2% compared to the same quarter last year. Analysts predict that TechnipFMC will post 1.38 earnings per share for the current fiscal year.

TechnipFMC declared that its Board of Directors has initiated a share buyback program 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 reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On TechnipFMC

A number of institutional investors have recently modified their holdings of FTI. Whittier Trust Co. purchased a new position in shares of TechnipFMC during the 1st quarter valued at about $29,000. Blue Trust Inc. grew its position in shares of TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company's stock valued at $29,000 after acquiring an additional 735 shares during the period. GAMMA Investing LLC grew its position in shares of TechnipFMC by 73.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 492 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of TechnipFMC during the 3rd quarter valued at about $30,000. Finally, ORG Partners LLC acquired a new stake in shares of TechnipFMC during the 2nd quarter valued at about $33,000. Hedge funds and other 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.