FMC Technologies Given New $58.00 Price Target at Barclays (FTI)
Barclays dropped their price objective on shares of FMC Technologies (NYSE:FTI) from $61.00 to $58.00 in a research note issued on Thursday, AnalystRatingsNetwork.com reports. The firm currently has an “equal weight” rating on the stock. Barclays’ price target would indicate a potential upside of 9.85% from the stock’s previous close.
A number of other analysts have also recently weighed in on FTI. Analysts at Robert W. Baird initiated coverage on shares of FMC Technologies in a research note to investors on Monday, October 14th. They set a “neutral” rating and a $65.00 price target on the stock. Separately, analysts at Clarkson Capital initiated coverage on shares of FMC Technologies in a research note to investors on Monday, October 7th. They set an “outperform” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of FMC Technologies in a research note to investors on Monday, September 23rd. They now have a $59.00 price target on the stock. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $61.63.
Shares of FMC Technologies (NYSE:FTI) traded down 1.67% during mid-day trading on Thursday, hitting $51.92. 3,470,371 shares of the company’s stock traded hands. FMC Technologies has a 52 week low of $39.25 and a 52 week high of $59.27. The stock has a 50-day moving average of $54.18 and a 200-day moving average of $54.47. The company has a market cap of $12.300 billion and a P/E ratio of 29.66.
FMC Technologies (NYSE:FTI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.53 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.59 by $0.06. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 21.5% on a year-over-year basis. On average, analysts predict that FMC Technologies will post $2.19 earnings per share for the current fiscal year.
FMC Technologies, Inc designs, manufactures and services systems and products, including subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems for the energy industry.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.