FMC Technologies PT Lowered to $62.00 (FTI)
Research analysts at RBC Capital cut their price target on shares of FMC Technologies (NYSE:FTI) from $64.00 to $62.00 in a report released on Thursday, American Banking & Market News reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s price target indicates a potential upside of 21.26% from the stock’s previous close.
FMC Technologies (NYSE:FTI) traded down 1.46% during mid-day trading on Thursday, hitting $51.13. 3,845,020 shares of the company’s stock traded hands. FMC Technologies has a one year low of $39.25 and a one year high of $59.27. The stock’s 50-day moving average is $54.18 and its 200-day moving average is $54.47. The company has a market cap of $12.113 billion and a price-to-earnings ratio of 29.15.
FMC Technologies (NYSE:FTI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. On average, analysts predict that FMC Technologies will post $2.12 earnings per share for the current fiscal year.
FTI has been the subject of a number of other recent research reports. Analysts at Jefferies Group cut their price target on shares of FMC Technologies from $57.00 to $55.00 in a research note to investors on Thursday. They now have a “hold” rating on the stock. Separately, analysts at Barclays cut their price target on shares of FMC Technologies from $61.00 to $58.00 in a research note to investors on Thursday. They now have an “equal weight” rating on the stock. Finally, 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. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $62.19.
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.
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