Q2 2024 Earnings Forecast for TechnipFMC plc (NYSE:FTI) Issued By Atb Cap Markets

TechnipFMC plc (NYSE:FTI) – Atb Cap Markets upped their Q2 2024 EPS estimates for shares of TechnipFMC in a research note issued on Tuesday, April 30th. Atb Cap Markets analyst W. Syed now expects that the oil and gas company will earn $0.33 per share for the quarter, up from their prior estimate of $0.30. The consensus estimate for TechnipFMC’s current full-year earnings is $1.15 per share.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.96 billion. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The firm’s revenue was up 18.9% compared to the same quarter last year.

A number of other research firms have also commented on FTI. Barclays upped their price objective on shares of TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. HSBC cut shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price objective on the stock. in a research report on Friday, February 23rd. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Sunday, April 28th. Susquehanna upped their price target on TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a research report on Friday, April 26th. Finally, Bank of America raised their price objective on TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a research report on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.72.

TechnipFMC Trading Up 0.1 %

Shares of NYSE FTI opened at $25.96 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.31. TechnipFMC has a 12 month low of $12.77 and a 12 month high of $27.26. The company has a market cap of $11.19 billion, a price-to-earnings ratio of 55.23 and a beta of 1.62. The business has a fifty day simple moving average of $24.65 and a 200-day simple moving average of $21.70.

Institutional Trading of TechnipFMC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FTI. Vanguard Group Inc. lifted its position in shares of TechnipFMC by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 39,914,980 shares of the oil and gas company’s stock worth $803,888,000 after buying an additional 126,247 shares during the period. Invesco Ltd. boosted its stake in shares of TechnipFMC by 75.7% in the 3rd quarter. Invesco Ltd. now owns 12,969,978 shares of the oil and gas company’s stock valued at $263,809,000 after purchasing an additional 5,587,050 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of TechnipFMC by 6.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,214,539 shares of the oil and gas company’s stock worth $207,764,000 after purchasing an additional 593,828 shares during the last quarter. American Century Companies Inc. increased its position in shares of TechnipFMC by 161.9% during the 3rd quarter. American Century Companies Inc. now owns 5,312,079 shares of the oil and gas company’s stock worth $108,048,000 after purchasing an additional 3,283,972 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in TechnipFMC by 68.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 4,000,978 shares of the oil and gas company’s stock valued at $81,380,000 after purchasing an additional 1,629,170 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Insider Buying and Selling

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total value of $264,809.20. Following the transaction, the director now directly owns 103,982 shares in the company, valued at approximately $2,204,418.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.06% of the company’s stock.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Monday, May 20th. TechnipFMC’s payout ratio is 42.55%.

About TechnipFMC

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.