FMC Technologies Lowered to “Neutral” at ISI Group (FTI)
FMC Technologies (NYSE:FTI) was downgraded by equities researchers at ISI Group from a “strong-buy” rating to a “neutral” rating in a research report issued on Monday, TheFlyOnTheWall.com reports.
Shares of FMC Technologies (NYSE:FTI) opened at 51.00 on Monday. FMC Technologies has a 52 week low of $45.92 and a 52 week high of $59.79. The stock has a 50-day moving average of $51.23 and a 200-day moving average of $53.50. The company has a market cap of $12.066 billion and a price-to-earnings ratio of 27.61.
FMC Technologies (NYSE:FTI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.53 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.41 earnings per share. FMC Technologies’s revenue was up 21.5% compared to the same quarter last year. Analysts expect that FMC Technologies will post $2.09 EPS for the current fiscal year.
A number of other firms have also recently commented on FTI. 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. Separately, 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. Finally, 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. Sixteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. FMC Technologies currently has a consensus 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.
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.