TechnipFMC plc Expected to Earn Q3 2022 Earnings of $0.11 Per Share (NYSE:FTI)

TechnipFMC plc (NYSE:FTI – Get Rating) – Investment analysts at Jefferies Financial Group upped their Q3 2022 earnings per share estimates for shares of TechnipFMC in a report released on Tuesday, August 2nd. Jefferies Financial Group analyst M. Wilson now forecasts that the oil and gas company will post earnings of $0.11 per share for the quarter, up from their previous estimate of $0.01. The consensus estimate for TechnipFMC’s current full-year earnings is $0.15 per share. Jefferies Financial Group also issued estimates for TechnipFMC’s Q4 2022 earnings at $0.11 EPS and FY2022 earnings at $0.21 EPS.

TechnipFMC (NYSE:FTI – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). TechnipFMC had a negative return on equity of 2.48% and a negative net margin of 3.88%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the firm posted ($0.06) EPS. TechnipFMC’s revenue for the quarter was up 2.9% on a year-over-year basis.

FTI has been the subject of several other research reports. Cowen cut their price target on TechnipFMC from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, June 23rd. Bank of America raised TechnipFMC from a “neutral” rating to a “buy” rating and cut their price target for the company from $9.50 to $8.00 in a report on Friday, July 15th. Societe Generale raised TechnipFMC from a “hold” rating to a “buy” rating and upped their price target for the company from $7.57 to $10.00 in a report on Tuesday, April 19th. Finally, Cowen cut their price target on TechnipFMC from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, June 23rd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $10.88.

TechnipFMC Price Performance

NYSE FTI opened at $7.97 on Thursday. TechnipFMC has a twelve month low of $5.47 and a twelve month high of $9.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.04 and a current ratio of 1.29. The stock has a market capitalization of $3.60 billion, a PE ratio of -14.49 and a beta of 1.91. The stock has a 50-day simple moving average of $7.05 and a 200 day simple moving average of $7.24.

Institutional Investors Weigh In On TechnipFMC

A number of large investors have recently bought and sold shares of FTI. JFS Wealth Advisors LLC grew its position in TechnipFMC by 773.8% during the 2nd quarter. JFS Wealth Advisors LLC now owns 3,836 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 3,397 shares during the last quarter. Allworth Financial LP bought a new stake in TechnipFMC during the 1st quarter worth approximately $28,000. Whittier Trust Co. of Nevada Inc. bought a new stake in TechnipFMC during the 2nd quarter worth approximately $28,000. FNY Investment Advisers LLC bought a new stake in TechnipFMC during the 1st quarter worth approximately $46,000. Finally, Zions Bancorporation N.A. bought a new stake in TechnipFMC during the 1st quarter worth approximately $58,000. 88.53% of the stock is currently owned by institutional investors.

TechnipFMC announced that its board has approved a share buyback program on Wednesday, July 27th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 13.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

TechnipFMC Company Profile

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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.