TechnipFMC (NYSE:FTI) Hits New 1-Year High - Here's Why

TechnipFMC plc (NYSE:FTI - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The company traded as high as $33.45 and last traded at $32.44, with a volume of 307545 shares traded. The stock had previously closed at $32.55.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FTI shares. Jefferies Financial Group raised TechnipFMC from a "hold" rating to a "buy" rating and raised their price objective for the company from $29.00 to $40.00 in a research note on Friday, December 6th. HSBC raised shares of TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 price target on the stock in a report on Tuesday, October 29th. StockNews.com raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. BMO Capital Markets boosted their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a "market perform" rating in a research note on Thursday, October 10th. Finally, Barclays increased their price target on TechnipFMC from $37.00 to $42.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $35.92.

TechnipFMC Stock Performance

The stock has a 50 day moving average of $29.78 and a 200 day moving average of $27.63. The company has a market capitalization of $13.49 billion, a price-to-earnings ratio of 20.86 and a beta of 1.54. 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 (NYSE:FTI - Get Free Report) last issued 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. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company earned $0.21 EPS. The company's revenue for the quarter was up 14.2% on a year-over-year basis. As a group, analysts predict that TechnipFMC plc will post 1.61 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Tuesday, November 19th. TechnipFMC's dividend payout ratio (DPR) is presently 13.16%.

TechnipFMC announced that its Board of Directors has approved a stock repurchase plan on Wednesday, October 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Institutional Trading of TechnipFMC

Several large investors have recently modified their holdings of FTI. Hardman Johnston Global Advisors LLC boosted its stake in TechnipFMC by 13.5% during the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company's stock worth $236,482,000 after acquiring an additional 1,071,103 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of TechnipFMC by 2.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company's stock valued at $228,384,000 after purchasing an additional 204,435 shares during the period. State Street Corp boosted its position in shares of TechnipFMC by 1.7% during the 3rd quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company's stock worth $215,100,000 after purchasing an additional 133,775 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of TechnipFMC in the 3rd quarter valued at about $185,643,000. Finally, Franklin Resources Inc. increased its position in TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock valued at $98,838,000 after buying an additional 679,748 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Company Profile

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.