TechnipFMC (NYSE:FTI) Research Coverage Started at Royal Bank of Canada

Royal Bank of Canada started coverage on shares of TechnipFMC (NYSE:FTI) in a report published on Monday morning, MarketBeat reports. The firm issued an outperform rating and a $37.00 price objective on the oil and gas company’s stock.

Other equities research analysts have also issued reports about the stock. Bank of America increased their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 14th. BMO Capital Markets lifted their price target on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, October 10th. TD Cowen boosted their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Finally, HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Tuesday, October 29th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $33.91.

TechnipFMC Stock Up 0.9 %

FTI opened at $29.02 on Monday. The stock has a market cap of $12.35 billion, a price-to-earnings ratio of 19.09 and a beta of 1.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The firm’s fifty day moving average is $26.84 and its 200 day moving average is $26.42. TechnipFMC has a fifty-two week low of $18.33 and a fifty-two week high of $29.85.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the business earned $0.21 earnings per share. The business’s revenue was up 14.2% on a year-over-year basis. On average, sell-side analysts forecast that TechnipFMC will post 1.55 earnings per share for the current fiscal year.

TechnipFMC declared that its board has approved a stock repurchase program on Wednesday, October 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the oil and gas company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.69%. TechnipFMC’s payout ratio is presently 13.16%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in shares of TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 735 shares during the period. GAMMA Investing LLC boosted its position in shares of TechnipFMC by 73.1% during the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 492 shares during the period. ORG Wealth Partners LLC bought a new position in shares of TechnipFMC during the third quarter valued at approximately $30,000. ORG Partners LLC purchased a new stake in shares of TechnipFMC in the second quarter worth approximately $33,000. Finally, Crewe Advisors LLC bought a new stake in shares of TechnipFMC during the 2nd quarter worth approximately $51,000. Institutional investors own 96.58% of the company’s stock.

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.