TechnipFMC plc (NYSE:FTI) Given Average Rating of “Moderate Buy” by Analysts

TechnipFMC plc (NYSE:FTI) has received an average recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $70.00.

Several brokerages have weighed in on FTI. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Susquehanna increased their price target on TechnipFMC from $83.00 to $90.00 and gave the stock a “positive” rating in a research note on Friday, May 1st. The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Finally, Piper Sandler boosted their price objective on TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th.

TechnipFMC Price Performance

FTI opened at $68.24 on Wednesday. TechnipFMC has a fifty-two week low of $31.88 and a fifty-two week high of $77.78. The firm has a 50-day moving average of $69.60 and a 200 day moving average of $63.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The firm has a market cap of $27.21 billion, a P/E ratio of 26.05, a PEG ratio of 1.45 and a beta of 0.70.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the company earned $0.33 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts expect that TechnipFMC will post 2.98 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is 7.63%.

Hedge Funds Weigh In On TechnipFMC

Several hedge funds have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new position in TechnipFMC in the 1st quarter worth about $26,000. Harbor Investment Advisory LLC bought a new position in TechnipFMC in the 4th quarter valued at $32,000. Newbridge Financial Services Group Inc. purchased a new position in shares of TechnipFMC during the 3rd quarter valued at $32,000. Geneos Wealth Management Inc. grew its position in shares of TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 340 shares in the last quarter. Finally, Ascentis Independent Advisors bought a new position in shares of TechnipFMC in the first quarter worth $37,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Company Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.