TechnipFMC plc (NYSE:FTI) Receives Consensus Rating of “Moderate Buy” from Brokerages

TechnipFMC plc (NYSE:FTI) has received an average rating of “Moderate Buy” from the fifteen ratings firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $46.9167.

FTI has been the subject of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of TechnipFMC in a report on Wednesday, October 8th. BNP Paribas Exane raised shares of TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 target price for the company in a research note on Friday, October 10th. Jefferies Financial Group boosted their target price on shares of TechnipFMC from $47.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Piper Sandler increased their price target on TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Finally, Royal Bank Of Canada boosted their price objective on TechnipFMC from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its stake in TechnipFMC by 34.0% during the third quarter. AQR Capital Management LLC now owns 13,316,569 shares of the oil and gas company’s stock worth $525,339,000 after acquiring an additional 3,378,159 shares in the last quarter. State Street Corp raised its holdings in shares of TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after purchasing an additional 4,938,498 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of TechnipFMC by 2.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,374,192 shares of the oil and gas company’s stock valued at $409,262,000 after purchasing an additional 232,491 shares during the period. Boston Partners boosted its position in shares of TechnipFMC by 2.0% during the 3rd quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock worth $389,018,000 after purchasing an additional 192,549 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of TechnipFMC by 21.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,124,326 shares of the oil and gas company’s stock valued at $162,390,000 after buying an additional 910,891 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Trading Up 0.2%

NYSE FTI opened at $48.40 on Wednesday. The firm has a market capitalization of $19.58 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 0.95 and a beta of 0.66. The business’s 50-day moving average price is $44.52 and its two-hundred day moving average price is $39.44. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. TechnipFMC has a 12 month low of $22.11 and a 12 month high of $49.10.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.10. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.60 billion. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The firm’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. On average, analysts expect that TechnipFMC will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 3rd. Shareholders of record on Tuesday, November 18th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Tuesday, November 18th. TechnipFMC’s dividend payout ratio is presently 8.93%.

TechnipFMC declared that its board has initiated a share repurchase program on Wednesday, October 22nd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 13.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

TechnipFMC Company Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.