Cowen and Company Analysts Give FMC Technologies, Inc. (FTI) a $32.00 Price Target
FMC Technologies, Inc. (NYSE:FTI) received a $32.00 price objective from equities researchers at Cowen and Company in a research report issued to clients and investors on Friday. The firm currently has a “buy” rating on the oil and gas company’s stock. Cowen and Company’s price target indicates a potential upside of 16.70% from the stock’s current price.
Several other brokerages also recently commented on FTI. Seaport Global Securities reaffirmed a “neutral” rating on shares of FMC Technologies in a report on Thursday, July 27th. Scotiabank set a $36.00 price objective on shares of FMC Technologies and gave the company a “buy” rating in a report on Thursday, July 27th. BidaskClub raised shares of FMC Technologies from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 1st. UBS AG reissued a “buy” rating and issued a $36.00 price objective (down previously from $40.00) on shares of FMC Technologies in a report on Monday, July 31st. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $31.00 price objective on shares of FMC Technologies in a report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $34.62.
FMC Technologies (FTI) traded down 0.18% during midday trading on Friday, reaching $27.42. 2,016,326 shares of the company’s stock were exchanged. The company has a market cap of $12.81 billion, a price-to-earnings ratio of 33.16 and a beta of 0.95. The firm has a 50-day moving average price of $26.51 and a 200 day moving average price of $28.84. FMC Technologies has a 52 week low of $25.17 and a 52 week high of $37.09.
FMC Technologies (NYSE:FTI) last announced its earnings results on Wednesday, July 26th. The oil and gas company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.37 by $0.08. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.80 billion. Analysts anticipate that FMC Technologies will post $1.06 EPS for the current year.
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Several large investors have recently bought and sold shares of the company. Achmea Investment Management B.V. bought a new stake in shares of FMC Technologies in the 2nd quarter valued at $1,227,000. Kimelman & Baird LLC bought a new stake in shares of FMC Technologies in the 2nd quarter valued at $408,000. Sentry Investment Management LLC boosted its stake in shares of FMC Technologies by 102.0% in the 2nd quarter. Sentry Investment Management LLC now owns 19,163 shares of the oil and gas company’s stock valued at $521,000 after purchasing an additional 9,677 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of FMC Technologies by 25.6% in the 2nd quarter. Toronto Dominion Bank now owns 157,776 shares of the oil and gas company’s stock valued at $4,291,000 after purchasing an additional 32,120 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of FMC Technologies in the 2nd quarter valued at $313,000. 65.35% of the stock is currently owned by institutional investors.
FMC Technologies Company Profile
FMC Technologies, Inc is a global provider of technology solutions for the energy industry. The Company designs, manufactures and services a range of systems and products, including subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems.
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