FMC Technologies Given New $66.00 Price Target at Goldman Sachs (FTI)
Equities research analysts at Goldman Sachs hoisted their target price on shares of FMC Technologies (NYSE:FTI) from $59.00 to $66.00 in a research note issued to investors on Thursday. Goldman Sachs’ price target would indicate a potential upside of 10.98% from the stock’s previous close.
FMC Technologies (NYSE:FTI) traded down 1.69% on Thursday, hitting $59.47. 2,090,551 shares of the company’s stock traded hands. FMC Technologies has a one year low of $47.58 and a one year high of $62.43. The stock has a 50-day moving average of $59.34 and a 200-day moving average of $54.20. The company has a market cap of $13.986 billion and a price-to-earnings ratio of 27.00.
FMC Technologies (NYSE:FTI) last released its earnings data on Tuesday, April 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Analysts expect that FMC Technologies will post $2.70 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on FTI. Analysts at Gabelli initiated coverage on shares of FMC Technologies in a research note on Thursday, June 12th. They set a “hold” rating and a $61.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of FMC Technologies in a research note on Monday, May 5th. They now have a $59.00 price target on the stock. Finally, analysts at BMO Capital Markets upgraded shares of FMC Technologies from a “market perform” rating to an “outperform” rating in a research note on Friday, April 25th. They now have a $75.00 price target on the stock, up previously from $51.00. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. FMC Technologies has an average rating of “Buy” and a consensus price target of $65.21.
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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