TechnipFMC (FTI) Earns Hold Rating from BMO Capital Markets

BMO Capital Markets restated their hold rating on shares of TechnipFMC (NYSE:FTI) in a research note released on Tuesday morning.

A number of other equities analysts have also recently commented on FTI. Credit Suisse Group initiated coverage on TechnipFMC in a report on Tuesday, July 17th. They set an outperform rating and a $38.00 target price for the company. Barclays raised their target price on TechnipFMC from $32.00 to $35.00 and gave the company a hold rating in a report on Thursday, August 2nd. Jefferies Financial Group upgraded TechnipFMC from a hold rating to a buy rating and set a $37.00 target price for the company in a report on Thursday, August 16th. JPMorgan Chase & Co. raised their target price on TechnipFMC from $36.00 to $39.00 and gave the company an overweight rating in a report on Monday, September 17th. Finally, Societe Generale upgraded TechnipFMC from a hold rating to a buy rating and set a $45.00 target price for the company in a report on Wednesday, October 10th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the company. TechnipFMC currently has a consensus rating of Buy and an average price target of $36.21.

Shares of NYSE FTI traded down $0.64 during mid-day trading on Tuesday, reaching $25.36. 226,906 shares of the company’s stock were exchanged, compared to its average volume of 3,822,045. The stock has a market cap of $12.47 billion, a PE ratio of 19.60, a P/E/G ratio of 2.02 and a beta of 1.08. The company has a current ratio of 1.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. TechnipFMC has a 52-week low of $25.36 and a 52-week high of $35.00.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Wednesday, October 24th. The oil and gas company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.07). The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.22 billion. TechnipFMC had a return on equity of 3.76% and a net margin of 1.42%. Research analysts predict that TechnipFMC will post 1.32 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 5th. Stockholders of record on Tuesday, November 20th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Monday, November 19th. TechnipFMC’s payout ratio is presently 20.16%.

Several hedge funds and other institutional investors have recently modified their holdings of FTI. Boston Partners acquired a new stake in shares of TechnipFMC during the 2nd quarter worth about $79,451,000. Jennison Associates LLC raised its position in shares of TechnipFMC by 242.1% during the 2nd quarter. Jennison Associates LLC now owns 2,800,160 shares of the oil and gas company’s stock worth $88,877,000 after acquiring an additional 1,981,616 shares in the last quarter. TCW Group Inc. raised its position in shares of TechnipFMC by 95.8% during the 2nd quarter. TCW Group Inc. now owns 2,292,922 shares of the oil and gas company’s stock worth $72,777,000 after acquiring an additional 1,121,599 shares in the last quarter. FMR LLC raised its position in shares of TechnipFMC by 34.2% during the 2nd quarter. FMR LLC now owns 2,887,348 shares of the oil and gas company’s stock worth $91,644,000 after acquiring an additional 735,340 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of TechnipFMC by 57.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,629,500 shares of the oil and gas company’s stock worth $51,720,000 after acquiring an additional 597,700 shares in the last quarter. 64.73% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Company Profile

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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Analyst Recommendations for TechnipFMC (NYSE:FTI)

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