Socgen Upgrades FMC Technologies to “Buy” (FTI)
FMC Technologies (NYSE:FTI) was upgraded by equities researchers at Socgen to a “buy” rating in a research report issued on Tuesday, AnalystRatingsNetwork.com reports.
A number of other analysts have also recently weighed in on FTI. Analysts at Raymond James upgraded shares of FMC Technologies from a “market perform” rating to an “outperform” rating in a research note on Monday. Separately, analysts at William Blair downgraded shares of FMC Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday. Finally, analysts at Societe Generale downgraded shares of FMC Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Thirteen investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. FMC Technologies currently has an average rating of “Buy” and a consensus price target of $60.38.
Shares of FMC Technologies (NYSE:FTI) traded up 2.36% on Tuesday, hitting $50.27. 2,730,658 shares of the company’s stock traded hands. FMC Technologies has a 52-week low of $47.58 and a 52-week high of $59.79. The stock has a 50-day moving average of $50.72 and a 200-day moving average of $52.64. The company has a market cap of $11.969 billion and a price-to-earnings ratio of 23.39.
FMC Technologies (NYSE:FTI) last issued its quarterly earnings data on Friday, February 7th. The company reported $0.79 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.65 by $0.14. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the company posted $0.50 earnings per share. FMC Technologies’s revenue was up 11.2% compared to the same quarter last year. On average, analysts predict that FMC Technologies will post $2.70 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.