TechnipFMC (NYSE:FTI) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of TechnipFMC (NYSE:FTI) from a hold rating to a buy rating in a research report report published on Friday morning.

FTI has been the topic of several other reports. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Barclays boosted their price target on TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. TD Cowen boosted their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Citigroup boosted their price target on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Bank of America boosted their price objective on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.41.

TechnipFMC Stock Down 1.5 %

NYSE FTI traded down $0.41 during mid-day trading on Friday, reaching $26.28. The stock had a trading volume of 2,408,888 shares, compared to its average volume of 4,069,478. The stock has a market cap of $11.18 billion, a PE ratio of 17.29 and a beta of 1.50. TechnipFMC has a 1 year low of $18.33 and a 1 year high of $29.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The company has a fifty day moving average price of $26.12 and a 200 day moving average price of $26.19.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.39 by $0.25. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. TechnipFMC’s revenue was up 14.2% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share. On average, research analysts expect that TechnipFMC will post 1.42 earnings per share for the current year.

TechnipFMC declared that its Board of Directors has approved a share repurchase program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the oil and gas company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.76%. TechnipFMC’s dividend payout ratio is currently 13.16%.

Institutional Investors Weigh In On TechnipFMC

Several institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its stake in TechnipFMC by 8.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock worth $1,019,337,000 after buying an additional 3,259,348 shares during the period. Vanguard Group Inc. boosted its holdings in shares of TechnipFMC by 0.3% in the first quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock valued at $1,005,652,000 after purchasing an additional 134,880 shares during the period. Hardman Johnston Global Advisors LLC lifted its stake in TechnipFMC by 13.5% in the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock worth $236,482,000 after acquiring an additional 1,071,103 shares during the period. Massachusetts Financial Services Co. MA increased its position in TechnipFMC by 2.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company’s stock valued at $228,384,000 after purchasing an additional 204,435 shares during the period. Finally, Anomaly Capital Management LP increased its position in TechnipFMC by 50.3% during the 2nd quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock valued at $89,429,000 after purchasing an additional 1,144,087 shares during the period. 96.58% of the stock is owned by institutional investors.

TechnipFMC Company Profile

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.