TechnipFMC (NYSE:FTI) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of TechnipFMC (NYSE:FTI) from a hold rating to a buy rating in a research note released on Monday.

A number of other equities research analysts have also recently issued reports on the company. Citigroup upped their target price on TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Susquehanna raised their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Bank of America boosted their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, BMO Capital Markets raised their price target on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and a consensus price target of $30.74.

TechnipFMC Trading Up 2.8 %

Shares of NYSE:FTI opened at $25.86 on Monday. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $11.14 billion, a PE ratio of 55.02 and a beta of 1.50. TechnipFMC has a 1 year low of $18.33 and a 1 year high of $29.85. The firm has a fifty day moving average price of $26.14 and a 200 day moving average price of $26.18.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.12. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the prior year, the company posted $0.10 EPS. The firm’s revenue was up 17.9% on a year-over-year basis. Analysts expect that TechnipFMC will post 1.37 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.77%. TechnipFMC’s dividend payout ratio (DPR) is 42.55%.

TechnipFMC announced that its Board of Directors has authorized a stock buyback program on Wednesday, October 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Institutional Trading of TechnipFMC

A number of institutional investors and hedge funds have recently modified their holdings of FTI. Price T Rowe Associates Inc. MD boosted its stake in TechnipFMC by 8.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock worth $1,019,337,000 after buying an additional 3,259,348 shares in the last quarter. Vanguard Group Inc. increased its stake in TechnipFMC by 0.3% in the first quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock valued at $1,005,652,000 after acquiring an additional 134,880 shares during the period. Massachusetts Financial Services Co. MA raised its position in TechnipFMC by 2.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company’s stock worth $228,384,000 after purchasing an additional 204,435 shares in the last quarter. Anomaly Capital Management LP lifted its stake in TechnipFMC by 50.3% during the second quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock worth $89,429,000 after purchasing an additional 1,144,087 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in TechnipFMC by 56.7% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,954,356 shares of the oil and gas company’s stock valued at $74,184,000 after purchasing an additional 1,068,788 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

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.