TechnipFMC (NYSE:FTI) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

TechnipFMC (NYSE:FTI) released its quarterly earnings data on Thursday. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06, Briefing.com reports. TechnipFMC had a net margin of 2.61% and a return on equity of 9.60%. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.96 billion. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. TechnipFMC updated its FY 2024 guidance to EPS.

TechnipFMC Price Performance

Shares of FTI stock opened at $26.59 on Friday. The stock’s 50 day simple moving average is $24.21 and its 200 day simple moving average is $21.56. TechnipFMC has a twelve month low of $12.64 and a twelve month high of $27.26. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.16. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of 56.57 and a beta of 1.65.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.75%. TechnipFMC’s dividend payout ratio (DPR) is presently 42.55%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Benchmark reaffirmed a “buy” rating and issued a $30.00 target price on shares of TechnipFMC in a research report on Friday. Bank of America lifted their target price on TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a research note on Monday, April 15th. HSBC lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price target for the company. in a research report on Friday, February 23rd. TD Cowen boosted their price objective on shares of TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays increased their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.07.

Insiders Place Their Bets

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was 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 in the company, valued at $2,204,418.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.06% 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.