TechnipFMC (FTI) Shares Gap Down to $22.62

TechnipFMC PLC (NYSE:FTI) gapped down before the market opened on Monday . The stock had previously closed at $22.79, but opened at $22.62. TechnipFMC shares last traded at $23.58, with a volume of 123602 shares traded.

Several equities research analysts have recently weighed in on FTI shares. Cowen reissued a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a research report on Friday, October 12th. Societe Generale raised TechnipFMC from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Wednesday, October 10th. Guggenheim reissued a “buy” rating on shares of TechnipFMC in a report on Thursday, November 8th. Royal Bank of Canada set a $32.00 target price on TechnipFMC and gave the company a “buy” rating in a report on Friday, October 26th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a report on Thursday. Four analysts have rated the stock with a sell rating, four have issued a hold rating and eighteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $37.00.

The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.31. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 18.47, a P/E/G ratio of 1.48 and a beta of 1.08.

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 5th. Investors of record on Tuesday, November 20th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.18%. TechnipFMC’s dividend payout ratio (DPR) is presently 10.08%.

Several institutional investors have recently bought and sold shares of the stock. Pinebridge Investments L.P. boosted its position in TechnipFMC by 270.1% during the second quarter. Pinebridge Investments L.P. now owns 3,775 shares of the oil and gas company’s stock worth $120,000 after purchasing an additional 2,755 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in TechnipFMC in the second quarter valued at $143,000. Dai Ichi Life Insurance Company Ltd acquired a new position in TechnipFMC in the second quarter valued at $210,000. Putnam Investments LLC acquired a new position in TechnipFMC in the second quarter valued at $210,000. Finally, Chicago Equity Partners LLC acquired a new position in TechnipFMC in the second quarter valued at $239,000. Hedge funds and other institutional investors own 64.10% of the company’s stock.

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About TechnipFMC (NYSE:FTI)

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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