Royal Bank of Canada Begins Coverage on TechnipFMC (NYSE:FTI)

Research analysts at Royal Bank of Canada assumed coverage on shares of TechnipFMC (NYSE:FTI - Get Free Report) in a report released on Monday, MarketBeat reports. The brokerage set an "outperform" rating and a $37.00 price target on the oil and gas company's stock. Royal Bank of Canada's price target indicates a potential upside of 29.78% from the stock's current price.

A number of other equities research analysts have also recently issued reports on the company. HSBC upgraded TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 target price on the stock in a research note on Tuesday, October 29th. TD Cowen upped their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Bank of America boosted their price target on shares of TechnipFMC from $30.00 to $31.00 and gave the company a "buy" rating in a report on Monday, October 14th. Barclays increased their target price on TechnipFMC from $34.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Finally, BMO Capital Markets increased their price objective on TechnipFMC from $32.00 to $33.00 and gave the stock a "market perform" rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, TechnipFMC presently has an average rating of "Buy" and a consensus target price of $33.91.

TechnipFMC Stock Performance

Shares of FTI traded up $0.33 during mid-day trading on Monday, hitting $28.51. The stock had a trading volume of 3,571,909 shares, compared to its average volume of 4,016,906. The company has a market cap of $12.13 billion, a PE ratio of 18.54 and a beta of 1.51. The company's fifty day simple moving average is $26.54 and its two-hundred day simple moving average is $26.36. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. TechnipFMC has a fifty-two week low of $18.33 and a fifty-two week high of $29.85.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.25. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company's revenue for the quarter was up 14.2% on a year-over-year basis. During the same period last year, the firm posted $0.21 EPS. On average, equities analysts expect that TechnipFMC will post 1.55 earnings per share for the current year.

TechnipFMC declared that its Board of Directors has initiated a stock repurchase plan 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 reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On TechnipFMC

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. raised its position in shares of TechnipFMC by 203.6% in 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. ORG Wealth Partners LLC bought a new position in TechnipFMC during the third quarter worth about $30,000. GAMMA Investing LLC lifted its holdings in TechnipFMC by 73.1% during the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 492 shares in the last quarter. ORG Partners LLC acquired a new position in TechnipFMC in the second quarter valued at about $33,000. Finally, Crewe Advisors LLC bought a new stake in shares of TechnipFMC in the second quarter worth about $51,000. 96.58% of the stock is owned by institutional investors.

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.