TechnipFMC (NYSE:FTI) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

TechnipFMC (NYSE:FTI) released its quarterly earnings results on Thursday. The oil and gas company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12, Briefing.com reports. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.23 billion. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 EPS. TechnipFMC updated its FY 2024 guidance to EPS.

TechnipFMC Stock Performance

Shares of TechnipFMC stock traded up $0.49 during trading on Friday, hitting $28.87. 4,889,617 shares of the company’s stock were exchanged, compared to its average volume of 3,669,934. The business has a 50-day simple moving average of $26.03 and a 200-day simple moving average of $24.11. The stock has a market capitalization of $12.44 billion, a price-to-earnings ratio of 61.43 and a beta of 1.52. TechnipFMC has a 52-week low of $17.36 and a 52-week high of $29.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.10.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Tuesday, August 20th. TechnipFMC’s dividend payout ratio (DPR) is 42.55%.

Insider Activity at TechnipFMC

In related news, CAO David Light sold 5,928 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total transaction of $153,001.68. Following the sale, the chief accounting officer now owns 11,534 shares in the company, valued at $297,692.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on FTI. Benchmark restated a “buy” rating and set a $30.00 target price on shares of TechnipFMC in a research report on Friday, April 26th. Bank of America upped their price objective on TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a research report on Monday, April 15th. Susquehanna increased their target price on TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research note on Friday. Barclays boosted their target price on shares of TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Finally, Citigroup raised their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $28.62.

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.