Analysts Set TechnipFMC plc (NYSE:FTI) PT at $35.92

Shares of TechnipFMC plc (NYSE:FTI) have been assigned a consensus rating of “Buy” from the thirteen research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $35.92.

Several brokerages have commented on FTI. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Citigroup boosted their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Royal Bank of Canada began coverage on shares of TechnipFMC in a report on Monday, November 18th. They set an “outperform” rating and a $37.00 target price for the company. BMO Capital Markets upped their price target on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, October 10th. Finally, Barclays raised their price objective on TechnipFMC from $37.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th.

Institutional Investors Weigh In On TechnipFMC

A number of institutional investors have recently modified their holdings of FTI. Pacer Advisors Inc. purchased a new stake in shares of TechnipFMC during the third quarter worth $185,643,000. Westfield Capital Management Co. LP acquired a new position in TechnipFMC in the 3rd quarter worth about $49,273,000. Jennison Associates LLC raised its stake in shares of TechnipFMC by 95.0% during the 3rd quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company’s stock worth $61,918,000 after purchasing an additional 1,150,049 shares in the last quarter. Anomaly Capital Management LP lifted its holdings in shares of TechnipFMC by 50.3% during the 2nd quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock valued at $89,429,000 after buying an additional 1,144,087 shares during the last quarter. Finally, Hardman Johnston Global Advisors LLC grew its stake in shares of TechnipFMC by 13.5% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock valued at $236,482,000 after buying an additional 1,071,103 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Trading Up 6.0 %

TechnipFMC stock opened at $31.35 on Friday. TechnipFMC has a 12-month low of $18.33 and a 12-month high of $32.64. 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 $13.34 billion, a PE ratio of 20.63 and a beta of 1.54. The firm has a 50 day simple moving average of $29.31 and a 200-day simple moving average of $27.42.

TechnipFMC (NYSE:FTI) 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, 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 firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company posted $0.21 EPS. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. As a group, equities research analysts expect that TechnipFMC will post 1.61 EPS for the current fiscal year.

TechnipFMC declared that its board has authorized a stock buyback plan on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

TechnipFMC Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Tuesday, November 19th. TechnipFMC’s dividend payout ratio (DPR) is 13.16%.

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.