TechnipFMC PLC (NYSE:FTI) – Equities researchers at Piper Jaffray Companies reduced their Q4 2019 earnings estimates for shares of TechnipFMC in a research report issued on Thursday, July 25th. Piper Jaffray Companies analyst B. Herbert now forecasts that the oil and gas company will post earnings of $0.51 per share for the quarter, down from their previous estimate of $0.57. Piper Jaffray Companies currently has a “Buy” rating and a $29.00 price target on the stock. Piper Jaffray Companies also issued estimates for TechnipFMC’s Q1 2020 earnings at $0.43 EPS, Q2 2020 earnings at $0.45 EPS, Q3 2020 earnings at $0.51 EPS and FY2020 earnings at $1.94 EPS.
FTI has been the subject of several other research reports. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. BMO Capital Markets set a $216.00 price objective on Stryker and gave the company a “hold” rating in a research report on Friday, July 26th. Barclays reissued a “hold” rating on shares of Mettler-Toledo International in a research report on Wednesday, May 15th. AltaCorp Capital reissued a “sector perform” rating on shares of STEP Energy Services in a research report on Thursday, June 20th. Finally, TheStreet lowered Upland Software from a “b-” rating to a “c+” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $31.28.
TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. TechnipFMC had a positive return on equity of 2.76% and a negative net margin of 15.64%. The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same quarter last year, the firm posted $0.28 earnings per share. The firm’s revenue was up 16.0% on a year-over-year basis.
Several large investors have recently modified their holdings of FTI. Stifel Financial Corp increased its holdings in shares of TechnipFMC by 1.8% during the fourth quarter. Stifel Financial Corp now owns 29,130 shares of the oil and gas company’s stock valued at $568,000 after acquiring an additional 523 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of TechnipFMC by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 4,967,665 shares of the oil and gas company’s stock valued at $97,077,000 after acquiring an additional 333,774 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new position in shares of TechnipFMC during the fourth quarter valued at $408,000. Nordea Investment Management AB increased its holdings in shares of TechnipFMC by 41.0% during the fourth quarter. Nordea Investment Management AB now owns 36,264 shares of the oil and gas company’s stock valued at $709,000 after acquiring an additional 10,549 shares in the last quarter. Finally, Kentucky Retirement Systems bought a new position in shares of TechnipFMC during the fourth quarter valued at $362,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th will be issued a dividend of $0.13 per share. The ex-dividend date is Monday, August 19th. This represents a $0.52 annualized dividend and a dividend yield of 1.86%.
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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