Zacks: Brokerages Anticipate TechnipFMC PLC (FTI) to Post $0.37 Earnings Per Share

Equities research analysts predict that TechnipFMC PLC (NYSE:FTI) will announce $0.37 earnings per share for the current fiscal quarter, Zacks reports. Twenty Six analysts have provided estimates for TechnipFMC’s earnings, with the lowest EPS estimate coming in at $0.15 and the highest estimate coming in at $0.49. TechnipFMC reported earnings per share of $0.20 in the same quarter last year, which would indicate a positive year over year growth rate of 85%. The company is expected to issue its next quarterly earnings results on Wednesday, February 20th.

On average, analysts expect that TechnipFMC will report full year earnings of $1.31 per share for the current year, with EPS estimates ranging from $1.03 to $1.71. For the next financial year, analysts forecast that the firm will report earnings of $1.41 per share, with EPS estimates ranging from $0.70 to $1.75. Zacks’ EPS averages are a mean average based on a survey of research firms that follow TechnipFMC.

TechnipFMC (NYSE:FTI) last released its earnings results on Wednesday, October 24th. The oil and gas company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.07). The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.22 billion. TechnipFMC had a return on equity of 3.76% and a net margin of 1.42%.



Several brokerages have recently issued reports on FTI. Barclays lowered their price target on shares of TechnipFMC from $35.00 to $33.00 and set a “hold” rating for the company in a report on Tuesday, October 30th. Royal Bank of Canada set a $32.00 price target on TechnipFMC and gave the stock a “buy” rating in a report on Friday, October 26th. Credit Suisse Group decreased their price target on TechnipFMC from $38.00 to $29.00 and set a “buy” rating for the company in a report on Monday, October 29th. BMO Capital Markets decreased their price target on TechnipFMC to $29.00 and set a “market perform” rating for the company in a report on Tuesday, December 11th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of TechnipFMC in a report on Monday, October 29th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. TechnipFMC has a consensus rating of “Buy” and a consensus price target of $35.15.

In other TechnipFMC news, CEO Douglas J. Pferdehirt purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were acquired at an average price of $19.20 per share, with a total value of $960,000.00. Following the transaction, the chief executive officer now owns 525,802 shares in the company, valued at $10,095,398.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of FTI. FMR LLC increased its stake in TechnipFMC by 34.2% in the 2nd quarter. FMR LLC now owns 2,887,348 shares of the oil and gas company’s stock valued at $91,644,000 after buying an additional 735,340 shares during the last quarter. Korea Investment CORP increased its stake in shares of TechnipFMC by 227.5% during the 2nd quarter. Korea Investment CORP now owns 87,528 shares of the oil and gas company’s stock worth $2,778,000 after purchasing an additional 60,800 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of TechnipFMC during the 2nd quarter worth approximately $1,521,000. Raymond James & Associates increased its stake in shares of TechnipFMC by 1,678.5% during the 2nd quarter. Raymond James & Associates now owns 149,373 shares of the oil and gas company’s stock worth $4,741,000 after purchasing an additional 140,974 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in shares of TechnipFMC by 54.5% during the 2nd quarter. Voya Investment Management LLC now owns 274,835 shares of the oil and gas company’s stock worth $8,724,000 after purchasing an additional 96,916 shares during the last quarter. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Shares of NYSE:FTI traded down $0.08 during trading on Friday, hitting $22.60. 4,304,099 shares of the company were exchanged, compared to its average volume of 4,555,638. The company has a market capitalization of $10.69 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 2.18 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 1.33. TechnipFMC has a 1-year low of $18.20 and a 1-year high of $35.00.

TechnipFMC declared that its Board of Directors has authorized a stock buyback plan on Wednesday, December 12th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

About TechnipFMC

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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