Shares of TechnipFMC plc (NYSE:FTI – Get Free Report) have been given an average rating of “Buy” by the fourteen analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $36.15.
Several research firms have recently commented on FTI. Royal Bank of Canada initiated coverage on shares of TechnipFMC in a report on Monday, November 18th. They set an “outperform” rating and a $37.00 price target on the stock. Piper Sandler started coverage on TechnipFMC in a research note on Thursday, December 19th. They issued an “overweight” rating and a $39.00 target price on the stock. The Goldman Sachs Group initiated coverage on TechnipFMC in a research note on Friday, December 13th. They set a “buy” rating and a $38.00 price target for the company. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Susquehanna raised their price objective on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research report on Friday, October 25th.
Get Our Latest Stock Report on TechnipFMC
TechnipFMC Trading Down 1.0 %
TechnipFMC (NYSE:FTI – Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm 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 firm posted $0.21 earnings per share. The firm’s revenue was up 14.2% on a year-over-year basis. As a group, analysts predict that TechnipFMC will post 1.62 earnings per share for the current fiscal year.
TechnipFMC announced that its board has initiated a share buyback plan on Wednesday, October 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Hedge Funds Weigh In On TechnipFMC
A number of institutional investors have recently made changes to their positions in the business. Blue Trust Inc. grew its holdings in TechnipFMC by 203.6% in the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 735 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of TechnipFMC in the third quarter worth $30,000. GAMMA Investing LLC increased its position in TechnipFMC by 59.5% during the third quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 693 shares during the period. Toth Financial Advisory Corp raised its stake in TechnipFMC by 1,900.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock valued at $52,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in TechnipFMC in the 3rd quarter valued at $56,000. 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.
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