Brokerages Set TechnipFMC plc (NYSE:FTI) Price Target at $35.92

TechnipFMC plc (NYSE:FTI) has earned a consensus recommendation of “Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $35.92.

A number of equities analysts recently issued reports on the company. Susquehanna raised their price target on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. Citigroup lifted their target price on TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Royal Bank of Canada began coverage on TechnipFMC in a research note on Monday, November 18th. They set an “outperform” rating and a $37.00 price target for the company. TD Cowen reiterated a “buy” rating and issued a $37.00 price objective on shares of TechnipFMC in a research report on Wednesday, November 27th. Finally, StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st.

TechnipFMC Price Performance

FTI stock opened at $28.95 on Friday. The business has a 50 day simple moving average of $28.92 and a 200-day simple moving average of $27.28. The company has a market capitalization of $12.32 billion, a P/E ratio of 19.05 and a beta of 1.54. TechnipFMC has a twelve month low of $18.33 and a twelve month high of $32.64. 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 (NYSE:FTI) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. TechnipFMC’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 EPS. As a group, equities analysts anticipate that TechnipFMC will post 1.61 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. TechnipFMC’s dividend payout ratio is presently 13.16%.

TechnipFMC announced that its Board of Directors has approved a stock buyback plan on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FTI. Pacer Advisors Inc. acquired a new stake in TechnipFMC in the third quarter valued at $185,643,000. Westfield Capital Management Co. LP purchased a new stake in shares of TechnipFMC in the 3rd quarter worth about $49,273,000. Jennison Associates LLC grew its stake in TechnipFMC by 95.0% in the 3rd quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company’s stock valued at $61,918,000 after acquiring an additional 1,150,049 shares during the last quarter. Anomaly Capital Management LP increased its holdings in TechnipFMC by 50.3% during the 2nd quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock valued at $89,429,000 after acquiring an additional 1,144,087 shares in the last quarter. Finally, Hardman Johnston Global Advisors LLC increased its holdings in TechnipFMC by 13.5% during the 3rd 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 acquiring an additional 1,071,103 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

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.