TechnipFMC (NYSE:FTI) Rating Increased to Buy at Societe Generale

TechnipFMC (NYSE:FTIGet Rating) was upgraded by analysts at Societe Generale from a “hold” rating to a “buy” rating in a report released on Tuesday, The Fly reports.

FTI has been the subject of a number of other reports. StockNews.com assumed coverage on shares of TechnipFMC in a report on Thursday, March 31st. They set a “hold” rating for the company. Kepler Capital Markets upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Monday, February 28th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, TechnipFMC currently has a consensus rating of “Buy” and a consensus target price of $10.10.

TechnipFMC stock opened at $8.73 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.39 and a quick ratio of 1.12. The firm has a market capitalization of $3.95 billion, a P/E ratio of 436.50 and a beta of 1.98. TechnipFMC has a one year low of $5.55 and a one year high of $10.70. The stock’s fifty day simple moving average is $7.34.

TechnipFMC (NYSE:FTIGet Rating) last released its quarterly earnings results on Wednesday, February 23rd. The oil and gas company reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.11). TechnipFMC had a net margin of 0.21% and a negative return on equity of 3.40%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the company earned $0.05 earnings per share. The firm’s revenue was down 4.8% on a year-over-year basis. Equities research analysts forecast that TechnipFMC will post 0.17 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Pzena Investment Management LLC lifted its stake in TechnipFMC by 0.5% during the fourth quarter. Pzena Investment Management LLC now owns 21,050,079 shares of the oil and gas company’s stock worth $124,616,000 after purchasing an additional 105,864 shares during the period. Van ECK Associates Corp lifted its stake in TechnipFMC by 31.6% during the third quarter. Van ECK Associates Corp now owns 17,339,538 shares of the oil and gas company’s stock worth $130,567,000 after purchasing an additional 4,166,307 shares during the period. Franklin Resources Inc. lifted its stake in TechnipFMC by 89.0% during the third quarter. Franklin Resources Inc. now owns 16,025,655 shares of the oil and gas company’s stock worth $120,675,000 after purchasing an additional 7,545,761 shares during the period. Dimensional Fund Advisors LP lifted its stake in TechnipFMC by 9.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,594,791 shares of the oil and gas company’s stock worth $80,479,000 after purchasing an additional 1,175,121 shares during the period. Finally, BlackRock Inc. lifted its stake in TechnipFMC by 2.1% during the fourth quarter. BlackRock Inc. now owns 8,885,983 shares of the oil and gas company’s stock worth $52,604,000 after purchasing an additional 182,889 shares during the period. Hedge funds and other institutional investors own 88.59% of the company’s stock.

About TechnipFMC (Get Rating)

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. 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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