TechnipFMC (FTI) Rating Reiterated by Guggenheim

TechnipFMC (NYSE:FTI)‘s stock had its “buy” rating reissued by equities research analysts at Guggenheim in a report released on Thursday.

A number of other research analysts have also issued reports on FTI. Credit Suisse Group began coverage on TechnipFMC in a report on Tuesday, July 17th. They set an “outperform” rating and a $38.00 target price on the stock. BMO Capital Markets lifted their price target on TechnipFMC from $34.00 to $35.00 and gave the stock a “market perform” rating in a research note on Monday, July 30th. Barclays lifted their price target on TechnipFMC from $32.00 to $35.00 and gave the stock a “hold” rating in a research note on Thursday, August 2nd. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Thursday, August 16th. Finally, JPMorgan Chase & Co. lifted their price target on TechnipFMC from $36.00 to $39.00 and gave the stock an “overweight” rating in a research note on Monday, September 17th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the stock. TechnipFMC has a consensus rating of “Buy” and an average price target of $36.21.

NYSE:FTI traded down $0.35 during mid-day trading on Thursday, reaching $25.65. 4,298,889 shares of the stock were exchanged, compared to its average volume of 3,741,451. The firm has a market cap of $12.48 billion, a P/E ratio of 19.88, a PEG ratio of 2.03 and a beta of 1.08. TechnipFMC has a 1-year low of $25.00 and a 1-year high of $35.00. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.31.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in FTI. Suntrust Banks Inc. acquired a new stake in TechnipFMC during the 1st quarter worth about $213,000. Fisher Asset Management LLC boosted its position in TechnipFMC by 57.5% during the 2nd quarter. Fisher Asset Management LLC now owns 293,545 shares of the oil and gas company’s stock worth $9,317,000 after acquiring an additional 107,198 shares during the period. Gateway Investment Advisers LLC acquired a new stake in TechnipFMC during the 2nd quarter worth about $600,000. Bank of Montreal Can acquired a new stake in TechnipFMC during the 2nd quarter worth about $4,199,000. Finally, Scout Investments Inc. boosted its position in TechnipFMC by 38.2% during the 2nd quarter. Scout Investments Inc. now owns 555,795 shares of the oil and gas company’s stock worth $17,641,000 after acquiring an additional 153,543 shares during the period. Hedge funds and other institutional investors own 64.73% of the company’s stock.

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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Analyst Recommendations for TechnipFMC (NYSE:FTI)

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