Atb Cap Markets Comments on TechnipFMC plc’s Q2 2024 Earnings (NYSE:FTI)

TechnipFMC plc (NYSE:FTI) – Research analysts at Atb Cap Markets lifted their Q2 2024 earnings per share (EPS) estimates for TechnipFMC in a report released on Tuesday, April 30th. Atb Cap Markets analyst W. Syed now expects that the oil and gas company will post earnings of $0.33 per share for the quarter, up from their prior estimate of $0.30. The consensus estimate for TechnipFMC’s current full-year earnings is $1.15 per share.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 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 9.57%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.96 billion. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year.

Other equities research analysts also recently issued research reports about the company. Susquehanna lifted their price objective on TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a research report on Friday, April 26th. TD Cowen raised their target price on shares of TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. HSBC lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price target on the stock. in a report on Friday, February 23rd. Benchmark reiterated a “buy” rating and issued a $30.00 target price on shares of TechnipFMC in a report on Friday, April 26th. Finally, Barclays upped their price target on TechnipFMC from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $26.72.

TechnipFMC Stock Performance

NYSE:FTI opened at $25.96 on Friday. The firm has a market cap of $11.19 billion, a PE ratio of 55.23 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.87. TechnipFMC has a 1-year low of $12.77 and a 1-year high of $27.26. The firm has a 50 day simple moving average of $24.65 and a 200-day simple moving average of $21.70.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Monday, May 20th. TechnipFMC’s payout ratio is 42.55%.

Insider Activity at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total value of $264,809.20. Following the sale, 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 Securities & Exchange Commission, which is available through this link. Insiders own 1.06% of the company’s stock.

Hedge Funds Weigh In On TechnipFMC

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Xponance Inc. increased its stake in TechnipFMC by 128.1% during the 3rd quarter. Xponance Inc. now owns 34,638 shares of the oil and gas company’s stock valued at $705,000 after buying an additional 19,451 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of TechnipFMC by 14.8% in the 3rd 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 lifted its holdings in shares of TechnipFMC by 17.3% in 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 buying an additional 13,265 shares during the period. Mackenzie Financial Corp boosted its stake in TechnipFMC by 50.0% during the third quarter. Mackenzie Financial Corp now owns 836,307 shares of the oil and gas company’s stock valued at $16,659,000 after buying an additional 278,637 shares in the last quarter. Finally, Calamos Wealth Management LLC acquired a new position in TechnipFMC during the third quarter worth about $1,207,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

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.