TechnipFMC (NYSE:FTI) PT Set at $30.00 by Royal Bank of Canada

TechnipFMC (NYSE:FTI) received a $30.00 price objective from analysts at Royal Bank of Canada in a research note issued on Friday, TipRanks reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 43.33% from the stock’s previous close.

FTI has been the topic of several other research reports. Morgan Stanley cut their target price on TechnipFMC from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. ValuEngine raised TechnipFMC from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Berenberg Bank reissued a “buy” rating and set a $26.00 target price on shares of TechnipFMC in a research report on Tuesday, August 27th. TheStreet downgraded TechnipFMC from a “b-” rating to a “c” rating in a research report on Monday, August 19th. Finally, BMO Capital Markets set a $32.00 target price on TechnipFMC and gave the company a “buy” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. TechnipFMC presently has a consensus rating of “Buy” and an average price target of $29.23.

NYSE:FTI traded down $0.43 during trading hours on Friday, reaching $20.93. The stock had a trading volume of 6,170,367 shares, compared to its average volume of 3,939,440. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.04 and a current ratio of 1.18. TechnipFMC has a 52 week low of $18.20 and a 52 week high of $28.57. The company has a 50 day moving average price of $23.87 and a two-hundred day moving average price of $24.13. The stock has a market capitalization of $9.27 billion, a PE ratio of 25.52, a PEG ratio of 0.75 and a beta of 1.46.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.38). TechnipFMC had a positive return on equity of 2.11% and a negative net margin of 16.30%. The firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the previous year, the firm earned $1.09 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that TechnipFMC will post 1.44 EPS for the current year.

Institutional investors have recently made changes to their positions in the business. ETRADE Capital Management LLC grew its position in TechnipFMC by 108.9% in the 2nd quarter. ETRADE Capital Management LLC now owns 25,891 shares of the oil and gas company’s stock valued at $672,000 after acquiring an additional 13,496 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in TechnipFMC by 116.3% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,728 shares of the oil and gas company’s stock valued at $45,000 after acquiring an additional 929 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in TechnipFMC by 2.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,679,734 shares of the oil and gas company’s stock valued at $43,573,000 after acquiring an additional 38,481 shares during the last quarter. Primecap Management Co. CA grew its position in TechnipFMC by 92.3% in the 2nd quarter. Primecap Management Co. CA now owns 197,100 shares of the oil and gas company’s stock valued at $5,113,000 after acquiring an additional 94,600 shares during the last quarter. Finally, NEXT Financial Group Inc grew its position in TechnipFMC by 13.0% in the 2nd quarter. NEXT Financial Group Inc now owns 3,624 shares of the oil and gas company’s stock valued at $94,000 after acquiring an additional 416 shares during the last quarter. 76.08% of the stock is currently owned by institutional investors.

About TechnipFMC

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.

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