FMC Technologies Given “Neutral” Rating at Credit Suisse (FTI)
FMC Technologies (NYSE:FTI)‘s stock had its “neutral” rating restated by investment analysts at Credit Suisse in a note issued to investors on Thursday. They currently have a $72.00 price objective on the stock, up from their previous price objective of $60.00. Credit Suisse’s price objective would indicate a potential upside of 13.89% from the company’s current price.
Shares of FMC Technologies (NYSE:FTI) traded down 0.33% during mid-day trading on Thursday, hitting $63.01. 1,177,408 shares of the company’s stock traded hands. FMC Technologies has a 52-week low of $47.58 and a 52-week high of $63.89. The stock has a 50-day moving average of $60.11 and a 200-day moving average of $54.77. The company has a market cap of $14.914 billion and a price-to-earnings ratio of 23.00.
FMC Technologies (NYSE:FTI) last released its earnings data on Tuesday, July 22nd. The company reported $0.72 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.63 by $0.09. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the company posted $0.48 earnings per share. FMC Technologies’s revenue was up 16.2% compared to the same quarter last year. Analysts expect that FMC Technologies will post $2.75 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on FTI. Analysts at Jefferies Group reiterated a “hold” rating on shares of FMC Technologies in a research note on Thursday. They now have a $65.00 price target on the stock, up previously from $57.00. Separately, analysts at RBC Capital raised their price target on shares of FMC Technologies from $68.00 to $71.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at Howard Weil raised their price target on shares of FMC Technologies from $68.00 to $71.00 in a research note on Thursday. They now have a “sector outperform” rating on the stock. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $67.65.
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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