TD Cowen Reaffirms Buy Rating for TechnipFMC (NYSE:FTI)

TD Cowen reissued their buy rating on shares of TechnipFMC (NYSE:FTI) in a report issued on Wednesday morning,Benzinga reports. They currently have a $37.00 target price on the oil and gas company’s stock.

A number of other equities research analysts have also recently weighed in on FTI. Susquehanna upped their price objective on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. 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 research report on Monday, October 14th. Barclays increased their price objective on shares of TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Hsbc Global Res upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Citigroup increased their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $33.91.

TechnipFMC Stock Performance

NYSE FTI opened at $31.01 on Wednesday. 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 company has a market capitalization of $13.19 billion, a P/E ratio of 20.40 and a beta of 1.51. The company has a fifty day moving average of $27.32 and a 200-day moving average of $26.53. TechnipFMC has a 52-week low of $18.33 and a 52-week high of $31.53.

TechnipFMC (NYSE:FTI) last issued 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 net margin of 7.63% and a return on equity of 20.11%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the firm posted $0.21 earnings per share. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, equities research analysts predict that TechnipFMC will post 1.58 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.64%. TechnipFMC’s dividend payout ratio (DPR) is presently 13.16%.

TechnipFMC announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On TechnipFMC

Institutional investors and hedge funds have recently modified their holdings of the company. Hardman Johnston Global Advisors LLC lifted its holdings in TechnipFMC by 13.5% in the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock valued at $236,482,000 after acquiring an additional 1,071,103 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in TechnipFMC by 2.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company’s stock valued at $228,384,000 after buying an additional 204,435 shares in the last quarter. State Street Corp grew its holdings in TechnipFMC by 1.7% in the 3rd quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock valued at $215,100,000 after buying an additional 133,775 shares in the last quarter. Pacer Advisors Inc. acquired a new position in shares of TechnipFMC in the 3rd quarter valued at $185,643,000. Finally, Franklin Resources Inc. lifted its stake in shares of TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after purchasing an additional 679,748 shares during the last quarter. Institutional investors and hedge funds 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.