TechnipFMC plc (NYSE:FTI) Receives $36.15 Consensus Price Target from Brokerages

TechnipFMC plc (NYSE:FTI) has earned an average recommendation of “Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $36.15.

Several equities research analysts have commented on FTI shares. Royal Bank of Canada started coverage on shares of TechnipFMC in a research report on Monday, November 18th. They set an “outperform” rating and a $37.00 target price on the stock. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and upped their price target for the company from $29.00 to $40.00 in a research report on Friday, December 6th. Evercore ISI raised their price target on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Barclays upped their price target on shares of TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th.

Institutional Investors Weigh In On TechnipFMC

A number of institutional investors have recently modified their holdings of the stock. Blue Trust Inc. raised its holdings in shares of TechnipFMC by 203.6% during the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 735 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in TechnipFMC during the 3rd quarter valued at $30,000. GAMMA Investing LLC lifted its holdings in shares of TechnipFMC by 59.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 693 shares during the period. Toth Financial Advisory Corp boosted its stake in shares of TechnipFMC by 1,900.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock worth $52,000 after buying an additional 1,900 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of TechnipFMC in the 3rd quarter worth $56,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

FTI stock opened at $31.40 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 business has a 50-day simple moving average of $30.71 and a two-hundred day simple moving average of $28.12. The company has a market capitalization of $13.36 billion, a P/E ratio of 20.66 and a beta of 1.54. TechnipFMC has a 52-week low of $18.53 and a 52-week high of $33.45.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.25. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. TechnipFMC’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 earnings per share. Research analysts expect that TechnipFMC will post 1.62 EPS for the current fiscal year.

TechnipFMC announced that its board has authorized a share buyback program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.