Q3 2024 Earnings Estimate for TechnipFMC plc (NYSE:FTI) Issued By Capital One Financial

TechnipFMC plc (NYSE:FTI) – Capital One Financial cut their Q3 2024 earnings estimates for TechnipFMC in a research report issued on Thursday, April 25th. Capital One Financial analyst D. Becker now forecasts that the oil and gas company will post earnings of $0.35 per share for the quarter, down from their prior forecast of $0.37. The consensus estimate for TechnipFMC’s current full-year earnings is $1.15 per share. Capital One Financial also issued estimates for TechnipFMC’s Q4 2024 earnings at $0.30 EPS, FY2024 earnings at $1.17 EPS and Q1 2025 earnings at $0.29 EPS.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. TechnipFMC had a net margin of 2.61% and a return on equity of 9.60%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.96 billion. The business’s revenue was up 18.9% on a year-over-year basis.

A number of other research firms have also commented on FTI. Bank of America lifted their price target on shares of TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a research report on Monday, April 15th. Susquehanna boosted their target price on shares of TechnipFMC from $27.00 to $34.00 and gave the stock a “positive” rating in a research report on Friday. Barclays raised their price target on TechnipFMC from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Benchmark reissued a “buy” rating and set a $30.00 price objective on shares of TechnipFMC in a research report on Friday. Finally, StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Sunday. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.07.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $26.59 on Monday. The business’s 50-day simple moving average is $24.21 and its 200-day simple moving average is $21.57. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.16. TechnipFMC has a 52 week low of $12.64 and a 52 week high of $27.26. The firm has a market cap of $11.62 billion, a price-to-earnings ratio of 56.57 and a beta of 1.65.

Institutional Trading of TechnipFMC

Several hedge funds have recently modified their holdings of the stock. Ballentine Partners LLC bought a new position in shares of TechnipFMC in the 3rd quarter valued at about $203,000. Xponance Inc. boosted its stake in TechnipFMC by 128.1% in the 3rd quarter. Xponance Inc. now owns 34,638 shares of the oil and gas company’s stock worth $705,000 after purchasing an additional 19,451 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings 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 worth $264,000 after buying an additional 1,674 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in TechnipFMC by 17.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,829 shares of the oil and gas company’s stock valued at $1,820,000 after buying an additional 13,265 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of TechnipFMC by 50.0% in the third quarter. Mackenzie Financial Corp now owns 836,307 shares of the oil and gas company’s stock worth $16,659,000 after purchasing an additional 278,637 shares in the last quarter. 96.58% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $21.20, for a total value of $264,809.20. Following the completion of the transaction, the director now directly owns 103,982 shares of the company’s stock, valued at $2,204,418.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.06% of the stock is owned by corporate insiders.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Monday, May 20th. TechnipFMC’s payout ratio is currently 42.55%.

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.