TechnipFMC plc (NYSE:FTI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

TechnipFMC plc (NYSE:FTI) has been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $46.9167.

Several analysts recently weighed in on the company. Royal Bank Of Canada raised their price objective on TechnipFMC from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. UBS Group restated an “outperform” rating on shares of TechnipFMC in a research note on Tuesday, October 28th. BNP Paribas set a $47.00 price target on shares of TechnipFMC and gave the company an “outperform” rating in a report on Friday, October 10th. Piper Sandler increased their price objective on shares of TechnipFMC from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Finally, Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th.

Hedge Funds Weigh In On TechnipFMC

Several large investors have recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in shares of TechnipFMC by 34.0% during the third quarter. AQR Capital Management LLC now owns 13,316,569 shares of the oil and gas company’s stock worth $525,339,000 after purchasing an additional 3,378,159 shares during the last quarter. State Street Corp boosted its position in TechnipFMC by 62.2% during the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after buying an additional 4,938,498 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in TechnipFMC by 2.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,374,192 shares of the oil and gas company’s stock worth $409,262,000 after acquiring an additional 232,491 shares during the last quarter. Boston Partners increased its position in TechnipFMC by 2.0% in the 3rd quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock valued at $389,018,000 after acquiring an additional 192,549 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of TechnipFMC by 21.6% during the first quarter. Goldman Sachs Group Inc. now owns 5,124,326 shares of the oil and gas company’s stock valued at $162,390,000 after acquiring an additional 910,891 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $48.40 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. The company has a market cap of $19.58 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 0.95 and a beta of 0.66. The company has a 50 day moving average of $44.52 and a 200-day moving average of $39.44. TechnipFMC has a 1-year low of $22.11 and a 1-year high of $49.10.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.65 by $0.10. TechnipFMC had a net margin of 9.67% and a return on equity of 30.23%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. As a group, equities research analysts forecast that TechnipFMC will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Tuesday, November 18th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.4%. TechnipFMC’s dividend payout ratio (DPR) is 8.93%.

TechnipFMC announced that its Board of Directors has authorized a share repurchase program on Wednesday, October 22nd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 13.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

About TechnipFMC

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.