Q4 EPS Estimates for TechnipFMC Lifted by Griffin Securities

TechnipFMC plc (NYSE:FTI) – Investment analysts at Griffin Securities raised their Q4 2024 earnings per share (EPS) estimates for shares of TechnipFMC in a report issued on Thursday, October 31st. Griffin Securities analyst K. Simpson now expects that the oil and gas company will post earnings of $0.33 per share for the quarter, up from their prior forecast of $0.32. The consensus estimate for TechnipFMC’s current full-year earnings is $1.42 per share. Griffin Securities also issued estimates for TechnipFMC’s Q1 2025 earnings at $0.39 EPS, Q2 2025 earnings at $0.57 EPS, Q3 2025 earnings at $0.61 EPS, FY2025 earnings at $2.06 EPS and FY2026 earnings at $2.46 EPS.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the business earned $0.21 EPS. The firm’s revenue was up 14.2% compared to the same quarter last year.

A number of other brokerages have also commented on FTI. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday. Susquehanna boosted their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research report on Friday, October 25th. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Bank of America boosted their target price on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, TechnipFMC currently has an average rating of “Moderate Buy” and an average target price of $32.41.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $26.28 on Monday. TechnipFMC has a one year low of $18.33 and a one year high of $29.85. The firm has a market capitalization of $11.18 billion, a price-to-earnings ratio of 17.29 and a beta of 1.51. The business has a 50-day simple moving average of $26.12 and a 200 day simple moving average of $26.19. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.76%. TechnipFMC’s payout ratio is presently 13.16%.

TechnipFMC announced that its board has initiated a stock repurchase program on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On TechnipFMC

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Assetmark Inc. purchased a new position in shares of TechnipFMC in the 3rd quarter worth approximately $265,000. Capital Performance Advisors LLP purchased a new position in TechnipFMC in the third quarter valued at approximately $56,000. Hardman Johnston Global Advisors LLC lifted its stake 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 purchasing an additional 1,071,103 shares during the last quarter. HMS Capital Management LLC purchased a new position in TechnipFMC in the third quarter valued at approximately $341,000. Finally, Vestor Capital LLC lifted its stake in TechnipFMC by 31.6% in the third quarter. Vestor Capital LLC now owns 599,459 shares of the oil and gas company’s stock valued at $15,724,000 after purchasing an additional 143,990 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

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.