Shares of TechnipFMC PLC (NYSE:FTI) have earned a consensus recommendation of “Buy” from the twenty-six analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $31.79.
Several research analysts have commented on the company. Cowen reissued a “buy” rating on shares of TechnipFMC in a research report on Monday, December 3rd. BNP Paribas raised TechnipFMC from an “underperform” rating to a “neutral” rating in a research report on Tuesday, January 22nd. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a research report on Thursday, November 22nd. Bank of America reissued an “underperform” rating on shares of TechnipFMC in a research report on Tuesday, November 20th. Finally, HSBC raised TechnipFMC from a “reduce” rating to a “hold” rating and set a $23.12 target price on the stock in a research report on Sunday, December 2nd.
NYSE:FTI opened at $22.91 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.15 and a current ratio of 1.29. TechnipFMC has a 12 month low of $18.20 and a 12 month high of $34.39. The stock has a market capitalization of $10.03 billion, a price-to-earnings ratio of 27.94, a P/E/G ratio of 2.64 and a beta of 1.23.
TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Wednesday, February 20th. The oil and gas company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.46). TechnipFMC had a negative net margin of 15.31% and a positive return on equity of 2.94%. The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period last year, the business earned $0.20 earnings per share. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. Equities research analysts anticipate that TechnipFMC will post 1.36 EPS for the current fiscal year.
TechnipFMC announced that its Board of Directors has initiated a share buyback program on Wednesday, December 12th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Tuesday, March 19th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Monday, March 18th. TechnipFMC’s payout ratio is 15.85%.
In other TechnipFMC news, CEO Douglas J. Pferdehirt bought 50,000 shares of the company’s stock in a transaction dated Monday, December 31st. The shares were acquired at an average cost of $19.20 per share, with a total value of $960,000.00. Following the completion of the transaction, the chief executive officer now owns 525,802 shares in the company, valued at $10,095,398.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.58% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in TechnipFMC in the fourth quarter worth about $210,592,000. Amundi Pioneer Asset Management Inc. grew its stake in TechnipFMC by 69.0% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 19,834,598 shares of the oil and gas company’s stock worth $388,362,000 after purchasing an additional 8,097,644 shares in the last quarter. Aviva PLC grew its stake in TechnipFMC by 106.1% in the fourth quarter. Aviva PLC now owns 10,029,403 shares of the oil and gas company’s stock worth $202,577,000 after purchasing an additional 5,162,133 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in TechnipFMC by 1,834.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 926,996 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 879,078 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in TechnipFMC in the third quarter worth about $25,005,000. 67.98% of the stock is currently owned by institutional investors and hedge funds.
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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