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

Stock analysts at Royal Bank of Canada began coverage on shares of TechnipFMC (NYSE:FTI) in a research report issued to clients and investors on Monday, Marketbeat Ratings 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 objective indicates a potential upside of 28.54% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Susquehanna raised their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. Citigroup upped their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Bank of America lifted their price objective on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $33.91.

TechnipFMC Trading Up 1.1 %

Shares of FTI stock opened at $28.79 on Monday. TechnipFMC has a 1 year low of $18.33 and a 1 year high of $29.85. The company’s fifty day simple moving average is $26.74 and its two-hundred day simple moving average is $26.40. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The stock has a market capitalization of $12.25 billion, a price-to-earnings ratio of 18.94 and a beta of 1.51.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the company posted $0.21 EPS. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, analysts anticipate that TechnipFMC will post 1.55 earnings per share for the current year.

TechnipFMC announced that its board has authorized 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 buy 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.

Institutional Trading of TechnipFMC

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new stake in shares of TechnipFMC in the 1st quarter valued at $205,000. Envestnet Portfolio Solutions Inc. purchased a new stake in TechnipFMC during the first quarter valued at about $236,000. Vanguard Group Inc. grew its stake in shares of TechnipFMC by 0.3% during the first quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock valued at $1,005,652,000 after buying an additional 134,880 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of TechnipFMC in the first quarter worth about $965,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of TechnipFMC in the 1st quarter valued at about $442,000. Hedge funds and other institutional investors 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.