Evercore ISI Issues Positive Forecast for TechnipFMC (NYSE:FTI) Stock Price

TechnipFMC (NYSE:FTI) had its target price upped by Evercore ISI from $37.00 to $39.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the oil and gas company’s stock.

FTI has been the topic of several other reports. Royal Bank of Canada began coverage on TechnipFMC in a research report on Monday, November 18th. They issued an “outperform” rating and a $37.00 target price on the stock. Barclays boosted their target price on TechnipFMC from $37.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and lifted their price target for the company from $29.00 to $40.00 in a research report on Friday, December 6th. Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Citigroup lifted their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, TechnipFMC presently has an average rating of “Buy” and an average target price of $36.15.

TechnipFMC Stock Down 0.3 %

FTI opened at $32.35 on Wednesday. TechnipFMC has a 12 month low of $18.50 and a 12 month high of $33.45. The business has a 50-day moving average of $30.21 and a two-hundred day moving average of $27.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The stock has a market capitalization of $13.76 billion, a price-to-earnings ratio of 21.28 and a beta of 1.54.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 7.63% and a return on equity of 20.11%. TechnipFMC’s revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 earnings per share. On average, research analysts expect that TechnipFMC will post 1.61 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.62%. TechnipFMC’s dividend payout ratio is presently 13.16%.

TechnipFMC announced that its board has authorized 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 buy up to 9.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional Trading of TechnipFMC

Institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. acquired a new stake in shares of TechnipFMC in the 3rd quarter valued at about $185,643,000. Westfield Capital Management Co. LP acquired a new stake in TechnipFMC during the third quarter valued at approximately $49,273,000. Jennison Associates LLC grew its position in shares of TechnipFMC by 95.0% in the 3rd quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company’s stock worth $61,918,000 after acquiring an additional 1,150,049 shares in the last quarter. Anomaly Capital Management LP increased its holdings in shares of TechnipFMC by 50.3% in the 2nd quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock valued at $89,429,000 after acquiring an additional 1,144,087 shares during the last quarter. Finally, Hardman Johnston Global Advisors LLC raised its position in shares of TechnipFMC by 13.5% during the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock valued at $236,482,000 after acquiring an additional 1,071,103 shares in the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

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.