TechnipFMC (NYSE:FTI) Upgraded to Buy by HSBC

TechnipFMC (NYSE:FTI) was upgraded by HSBC from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Briefing.com reports. The brokerage currently has a $32.00 price objective on the oil and gas company’s stock. HSBC’s price target would suggest a potential upside of 22.70% from the stock’s previous close.

A number of other equities research analysts have also weighed in on FTI. TD Cowen upped their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Friday. BMO Capital Markets raised their target price on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, October 10th. Citigroup upped their price target on TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Susquehanna increased their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research report on Friday. Finally, StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.41.

TechnipFMC Trading Down 1.5 %

Shares of FTI stock opened at $26.08 on Tuesday. The company has a market cap of $11.17 billion, a P/E ratio of 23.93 and a beta of 1.50. TechnipFMC has a fifty-two week low of $18.33 and a fifty-two week high of $29.85. The stock has a 50 day simple moving average of $26.11 and a two-hundred day simple moving average of $26.17. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.10.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.25. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The business’s revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 earnings per share. Research analysts forecast that TechnipFMC will post 1.38 earnings per share for the current year.

TechnipFMC announced that its board has initiated a share repurchase program on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Trading of TechnipFMC

Several hedge funds have recently added to or reduced their stakes in FTI. Whittier Trust Co. bought a new position in shares of TechnipFMC during the 1st quarter valued at approximately $29,000. Blue Trust Inc. lifted its stake in TechnipFMC by 203.6% in the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 735 shares during the last quarter. GAMMA Investing LLC grew its holdings in TechnipFMC by 73.1% during the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 492 shares during the period. ORG Wealth Partners LLC purchased a new stake in TechnipFMC in the third quarter worth $30,000. Finally, ORG Partners LLC bought a new stake in shares of TechnipFMC in the second quarter valued at $33,000. Institutional investors own 96.58% of the company’s stock.

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.