TechnipFMC (NYSE:FTI) Stock Price Expected to Rise, TD Cowen Analyst Says

TechnipFMC (NYSE:FTI) had its target price boosted by TD Cowen from $47.00 to $56.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s price objective would indicate a potential upside of 13.25% from the company’s current price.

A number of other research analysts have also recently weighed in on FTI. Barclays lifted their target price on TechnipFMC from $51.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TechnipFMC in a research note on Wednesday, October 8th. BNP Paribas set a $47.00 target price on shares of TechnipFMC and gave the stock an “outperform” rating in a research report on Friday, October 10th. Zacks Research cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of TechnipFMC from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and an average target price of $48.46.

TechnipFMC Price Performance

FTI stock opened at $49.45 on Wednesday. The stock has a market capitalization of $20.00 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 0.97 and a beta of 0.66. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. TechnipFMC has a 52-week low of $22.11 and a 52-week high of $50.09. The stock’s fifty day simple moving average is $44.83 and its 200-day simple moving average is $39.58.

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

TechnipFMC declared that its board has authorized a share repurchase plan on Wednesday, October 22nd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the oil and gas company to purchase up to 13.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FTI. EP Wealth Advisors LLC acquired a new stake in TechnipFMC during the 1st quarter valued at approximately $230,000. Goldman Sachs Group Inc. boosted its stake in shares of TechnipFMC by 21.6% during 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 last quarter. Great Lakes Advisors LLC grew its position in shares of TechnipFMC by 17.6% during the first quarter. Great Lakes Advisors LLC now owns 15,467 shares of the oil and gas company’s stock worth $490,000 after buying an additional 2,315 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of TechnipFMC in the first quarter worth $7,282,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of TechnipFMC by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,139,326 shares of the oil and gas company’s stock worth $36,105,000 after buying an additional 53,206 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

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.