TechnipFMC (NYSE:FTI) Releases Earnings Results, Beats Estimates By $0.12 EPS

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

TechnipFMC Trading Up 1.7 %

Shares of FTI traded up $0.49 during midday trading on Friday, hitting $28.87. The stock had a trading volume of 4,889,617 shares, compared to its average volume of 3,669,934. TechnipFMC has a 1 year low of $17.36 and a 1 year high of $29.24. The firm has a market cap of $12.44 billion, a PE ratio of 61.43 and a beta of 1.52. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.10 and a quick ratio of 0.87. The stock’s 50 day moving average is $26.03 and its 200 day moving average is $24.11.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, August 20th. TechnipFMC’s dividend payout ratio is currently 42.55%.

Insider Activity

In other news, CAO David Light sold 5,928 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total value of $153,001.68. Following the sale, the chief accounting officer now owns 11,534 shares of the company’s stock, valued at $297,692.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.06% of the company’s stock.

Wall Street Analysts Forecast Growth

FTI has been the subject of a number of research reports. Susquehanna upped their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research report on Friday. Piper Sandler upped their target price on shares of TechnipFMC from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Citigroup upped their target price on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Benchmark restated a “buy” rating and set a $30.00 target price on shares of TechnipFMC in a research report on Friday, April 26th. Finally, StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Sunday, April 28th. Four 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, the company currently has an average rating of “Moderate Buy” and an average price target of $28.62.

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.