Q2 2024 EPS Estimates for TechnipFMC plc Raised by Capital One Financial (NYSE:FTI)

TechnipFMC plc (NYSE:FTI) – Stock analysts at Capital One Financial raised their Q2 2024 EPS estimates for shares of TechnipFMC in a report issued on Tuesday, April 23rd. Capital One Financial analyst D. Becker now anticipates that the oil and gas company will post earnings per share of $0.32 for the quarter, up from their previous estimate of $0.30. The consensus estimate for TechnipFMC’s current full-year earnings is $1.15 per share. Capital One Financial also issued estimates for TechnipFMC’s FY2024 earnings at $1.16 EPS, Q2 2025 earnings at $0.49 EPS and FY2025 earnings at $1.88 EPS.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, February 22nd. The oil and gas company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. TechnipFMC had a net margin of 0.72% and a return on equity of 6.37%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period last year, the firm posted ($0.05) EPS. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis.

A number of other equities research analysts also recently commented on the stock. StockNews.com downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Bank of America lifted their price target on shares of TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a report on Monday, April 15th. Benchmark reiterated a “buy” rating and set a $30.00 price target (up from $25.00) on shares of TechnipFMC in a report on Monday, April 1st. TD Cowen lifted their price target on shares of TechnipFMC from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, Susquehanna reissued a “positive” rating and issued a $27.00 target price on shares of TechnipFMC in a research report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, TechnipFMC has a consensus rating of “Moderate Buy” and a consensus price target of $25.34.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $26.63 on Thursday. The company has a market cap of $11.64 billion, a PE ratio of 221.94 and a beta of 1.65. TechnipFMC has a 12 month low of $12.64 and a 12 month high of $27.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.16 and a quick ratio of 0.92. The company has a 50-day simple moving average of $24.07 and a 200-day simple moving average of $21.50.

Institutional Trading of TechnipFMC

A number of hedge funds have recently made changes to their positions in FTI. Exchange Traded Concepts LLC purchased a new stake in shares of TechnipFMC during the third quarter valued at approximately $2,633,000. Ballentine Partners LLC purchased a new stake in shares of TechnipFMC during the third quarter valued at approximately $203,000. Xponance Inc. raised its stake in shares of TechnipFMC by 128.1% during the third quarter. Xponance Inc. now owns 34,638 shares of the oil and gas company’s stock valued at $705,000 after purchasing an additional 19,451 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of TechnipFMC by 14.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 12,994 shares of the oil and gas company’s stock valued at $264,000 after purchasing an additional 1,674 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of TechnipFMC by 17.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,829 shares of the oil and gas company’s stock valued at $1,820,000 after purchasing an additional 13,265 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total transaction of $264,809.20. Following the transaction, the director now directly owns 103,982 shares of the company’s stock, valued at $2,204,418.40. The sale was disclosed in a filing with the SEC, which is available at this link. 1.06% of the stock is currently owned by corporate insiders.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st will be given a dividend of $0.05 per share. The ex-dividend date is Monday, May 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.75%. TechnipFMC’s dividend payout ratio (DPR) is 166.68%.

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.