StockNews.com Downgrades TechnipFMC (NYSE:FTI) to Sell

TechnipFMC (NYSE:FTI) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

A number of other equities analysts also recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $37.00 price target on shares of TechnipFMC in a research note on Monday, April 28th. Susquehanna cut their price objective on shares of TechnipFMC from $41.00 to $35.00 and set a “positive” rating on the stock in a report on Monday, April 14th. Barclays upped their price objective on shares of TechnipFMC from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Finally, Piper Sandler upped their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.83.

TechnipFMC Stock Performance

Shares of NYSE:FTI opened at $31.33 on Friday. The company has a market cap of $13.13 billion, a price-to-earnings ratio of 20.61 and a beta of 0.98. The company has a 50-day moving average price of $28.11 and a 200-day moving average price of $29.28. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC has a 12 month low of $22.12 and a 12 month high of $33.45.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the company posted $0.22 earnings per share. The business’s revenue was up 9.4% on a year-over-year basis. As a group, equities analysts anticipate that TechnipFMC will post 1.63 EPS for the current year.

Insider Activity

In related news, EVP Justin Rounce sold 42,178 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total value of $1,119,825.90. Following the sale, the executive vice president now owns 140,207 shares in the company, valued at approximately $3,722,495.85. This trade represents a 23.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction of $279,178.56. Following the completion of the sale, the director now owns 100,951 shares in the company, valued at $3,004,301.76. This represents a 8.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,706 shares of company stock worth $1,651,665 over the last 90 days. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TechnipFMC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. boosted its holdings in TechnipFMC by 0.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 42,166,132 shares of the oil and gas company’s stock worth $1,220,288,000 after purchasing an additional 365,527 shares during the last quarter. Vanguard Group Inc. boosted its holdings in TechnipFMC by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company’s stock worth $1,180,576,000 after purchasing an additional 1,623,864 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in TechnipFMC by 9.0% in the first quarter. Ameriprise Financial Inc. now owns 18,030,976 shares of the oil and gas company’s stock worth $571,583,000 after purchasing an additional 1,492,746 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in TechnipFMC by 2.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,952,064 shares of the oil and gas company’s stock worth $315,381,000 after purchasing an additional 202,599 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in TechnipFMC by 111.4% in the first quarter. AQR Capital Management LLC now owns 8,735,697 shares of the oil and gas company’s stock worth $273,078,000 after purchasing an additional 4,602,939 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

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.