TechnipFMC plc (NYSE:FTI) to Post Q2 2024 Earnings of $0.32 Per Share, Capital One Financial Forecasts

TechnipFMC plc (NYSE:FTI) – Equities researchers at Capital One Financial lifted their Q2 2024 EPS estimates for shares of TechnipFMC in a research note issued on Tuesday, April 23rd. Capital One Financial analyst D. Becker now forecasts that the oil and gas company will earn $0.32 per share for the quarter, up from their prior forecast of $0.30. The consensus estimate for TechnipFMC’s current full-year earnings is $1.15 per share. Capital One Financial also issued estimates for TechnipFMC’s FY2024 earnings at $1.16 EPS, Q2 2025 earnings at $0.49 EPS and FY2025 earnings at $1.88 EPS.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, February 22nd. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. TechnipFMC had a net margin of 0.72% and a return on equity of 6.37%. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the firm posted ($0.05) EPS. TechnipFMC’s revenue was up 22.6% compared to the same quarter last year.

Several other equities analysts have also weighed in on FTI. TD Cowen raised their price objective on shares of TechnipFMC from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Susquehanna restated a “positive” rating and set a $27.00 price objective on shares of TechnipFMC in a research report on Monday, April 8th. Benchmark reiterated a “buy” rating and issued a $30.00 target price (up from $25.00) on shares of TechnipFMC in a report on Monday, April 1st. Barclays raised their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Finally, HSBC cut shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 target price for the company. in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.34.

TechnipFMC Stock Performance

NYSE:FTI opened at $25.71 on Thursday. TechnipFMC has a twelve month low of $12.64 and a twelve month high of $27.26. The company has a current ratio of 1.16, a quick ratio of 0.92 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $23.93 and a 200-day moving average of $21.46. The firm has a market cap of $11.24 billion, a price-to-earnings ratio of 214.27 and a beta of 1.65.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.78%. The ex-dividend date is Monday, May 20th. TechnipFMC’s payout ratio is presently 166.68%.

Insider Activity at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total transaction of $264,809.20. Following the transaction, the director now owns 103,982 shares of the company’s stock, valued at $2,204,418.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.06% of the company’s stock.

Hedge Funds Weigh In On TechnipFMC

A number of institutional investors have recently modified their holdings of the company. Inceptionr LLC raised its position in shares of TechnipFMC by 2.2% in the fourth quarter. Inceptionr LLC now owns 24,612 shares of the oil and gas company’s stock valued at $496,000 after purchasing an additional 540 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of TechnipFMC by 0.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 126,410 shares of the oil and gas company’s stock worth $2,571,000 after acquiring an additional 660 shares during the last quarter. Fulton Bank N.A. grew its stake in shares of TechnipFMC by 6.8% in the fourth quarter. Fulton Bank N.A. now owns 10,750 shares of the oil and gas company’s stock worth $217,000 after acquiring an additional 683 shares during the last quarter. Janney Capital Management LLC grew its stake in shares of TechnipFMC by 2.8% in the third quarter. Janney Capital Management LLC now owns 26,849 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 722 shares during the last quarter. Finally, Dfpg Investments LLC grew its stake in shares of TechnipFMC by 2.4% in the fourth quarter. Dfpg Investments LLC now owns 31,360 shares of the oil and gas company’s stock worth $623,000 after acquiring an additional 738 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

About TechnipFMC

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.