FMC Technologies Stock Rating Lowered by Socgen (FTI)
FMC Technologies (NYSE:FTI) was downgraded by investment analysts at Socgen from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Stock Ratings Network reports.
FMC Technologies (NYSE:FTI) traded down 0.21% on Thursday, hitting $51.09. 988,262 shares of the company’s stock traded hands. FMC Technologies has a 52 week low of $45.12 and a 52 week high of $59.79. The stock has a 50-day moving average of $51.14 and a 200-day moving average of $53.56. The company has a market cap of $12.087 billion and a price-to-earnings ratio of 27.68.
FMC Technologies (NYSE:FTI) last released its 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 $2.09 earnings per share for the current fiscal year.
FTI has been the subject of a number of other recent research reports. Analysts at Societe Generale downgraded shares of FMC Technologies from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. Separately, analysts at ISI Group downgraded shares of FMC Technologies from a “strong-buy” rating to a “neutral” rating in a research note to investors on Monday. Finally, analysts at Cowen and Company cut their price target on shares of FMC Technologies from $70.00 to $62.00 in a research note to investors on Tuesday, January 7th. They now have an “outperform” rating on the stock. Sixteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $60.64.
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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