FMC Technologies Given New $62.00 Price Target at Cowen and Company (FTI)
Cowen and Company dropped their price objective on shares of FMC Technologies (NYSE:FTI) from $70.00 to $62.00 in a research note issued on Tuesday, ARN reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price target would indicate a potential upside of 20.86% from the stock’s previous close.
Shares of FMC Technologies (NYSE:FTI) traded down 1.16% on Tuesday, hitting $51.30. The stock had a trading volume of 1,316,283 shares. FMC Technologies has a one year low of $42.96 and a one year high of $59.79. The stock’s 50-day moving average is $50.62 and its 200-day moving average is $53.72. The company has a market cap of $12.137 billion and a price-to-earnings ratio of 28.05.
FMC Technologies (NYSE:FTI) last released its earnings data 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 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. Analysts expect that FMC Technologies will post $2.09 EPS for the current fiscal year.
FTI has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. cut their price target on shares of FMC Technologies from $63.00 to $62.00 in a research note to investors on Thursday, December 19th. They now have an “overweight” rating on the stock. Separately, analysts at Barclays raised their price target on shares of FMC Technologies from $58.00 to $64.00 in a research note to investors on Tuesday, December 17th. They now have an “equal weight” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. upgraded shares of FMC Technologies from a “sell” rating to a “neutral” rating in a research note to investors on Monday, December 16th. They now have a $57.00 price target on the stock. Thirteen analysts have rated the stock with a hold rating, eighteen have assigned 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 an average price target of $61.36.
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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