FY2024 EPS Estimates for TechnipFMC Lifted by Zacks Research

TechnipFMC plc (NYSE:FTI) – Equities research analysts at Zacks Research raised their FY2024 earnings estimates for shares of TechnipFMC in a note issued to investors on Wednesday, January 22nd. Zacks Research analyst N. Choudhury now expects that the oil and gas company will post earnings of $1.59 per share for the year, up from their previous forecast of $1.58. The consensus estimate for TechnipFMC’s current full-year earnings is $1.62 per share. Zacks Research also issued estimates for TechnipFMC’s Q4 2024 earnings at $0.30 EPS and Q4 2026 earnings at $0.55 EPS.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share 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 quarter in the prior year, the business posted $0.21 EPS. The firm’s quarterly revenue was up 14.2% on a year-over-year basis.

FTI has been the topic of a number of other reports. Piper Sandler initiated coverage on shares of TechnipFMC in a research report on Thursday, December 19th. They set an “overweight” rating and a $39.00 price target on the stock. Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and raised their target price for the stock from $29.00 to $40.00 in a report on Friday, December 6th. Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, October 29th. Finally, Barclays upped their target price on TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $36.15.

TechnipFMC Trading Down 1.0 %

NYSE FTI opened at $31.40 on Friday. The stock has a 50-day simple moving average of $30.71 and a 200 day simple moving average of $28.11. The company has a market capitalization of $13.36 billion, a PE ratio of 20.66 and a beta of 1.54. TechnipFMC has a 12 month low of $18.53 and a 12 month high of $33.45. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On TechnipFMC

A number of institutional investors have recently modified their holdings of the company. Blue Trust Inc. raised its stake in TechnipFMC by 203.6% during the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after buying an additional 735 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of TechnipFMC in the 3rd quarter worth about $30,000. GAMMA Investing LLC raised its position in shares of TechnipFMC by 59.5% in the 3rd 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 in the last quarter. Toth Financial Advisory Corp lifted its stake in shares of TechnipFMC by 1,900.0% in 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 period. Finally, Capital Performance Advisors LLP bought a new stake in shares of TechnipFMC during the 3rd quarter valued at about $56,000. 96.58% of the stock is owned by institutional investors.

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.