Zacks: Brokerages Expect TechnipFMC PLC (FTI) Will Announce Quarterly Sales of $3.27 Billion

Equities research analysts forecast that TechnipFMC PLC (NYSE:FTI) will post $3.27 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Twenty Six analysts have provided estimates for TechnipFMC’s earnings. The highest sales estimate is $3.52 billion and the lowest is $3.07 billion. TechnipFMC posted sales of $3.68 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 11.1%. The company is scheduled to issue its next quarterly earnings results on Wednesday, February 20th.

On average, analysts expect that TechnipFMC will report full-year sales of $12.66 billion for the current year, with estimates ranging from $12.54 billion to $12.77 billion. For the next year, analysts expect that the company will post sales of $12.91 billion, with estimates ranging from $11.87 billion to $14.04 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow TechnipFMC.

TechnipFMC (NYSE:FTI) last released its earnings results on Wednesday, October 24th. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.07). TechnipFMC had a net margin of 1.42% and a return on equity of 3.76%. The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.22 billion.

FTI has been the subject of several recent analyst reports. Susquehanna Bancshares restated a “buy” rating on shares of TechnipFMC in a research note on Friday. Cowen restated a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a research note on Friday, October 12th. Societe Generale upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Wednesday, October 10th. Guggenheim restated a “buy” rating on shares of TechnipFMC in a research note on Thursday, November 8th. Finally, Royal Bank of Canada set a $32.00 target price on TechnipFMC and gave the stock a “buy” rating in a research note on Friday, October 26th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $37.33.

NYSE FTI traded down $0.60 on Wednesday, hitting $23.09. 4,023,488 shares of the company’s stock were exchanged, compared to its average volume of 3,545,141. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.33 and a quick ratio of 1.19. TechnipFMC has a 52 week low of $22.39 and a 52 week high of $35.00. The stock has a market capitalization of $11.05 billion, a PE ratio of 17.90, a PEG ratio of 1.56 and a beta of 1.08.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 5th. Investors of record on Tuesday, November 20th will be issued a $0.13 dividend. The ex-dividend date is Monday, November 19th. This represents a $0.52 dividend on an annualized basis and a yield of 2.25%. TechnipFMC’s payout ratio is 10.08%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Pinebridge Investments L.P. grew its holdings in TechnipFMC by 270.1% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,775 shares of the oil and gas company’s stock worth $120,000 after acquiring an additional 2,755 shares during the period. Tower Research Capital LLC TRC acquired a new stake in shares of TechnipFMC in the 2nd quarter valued at about $143,000. Putnam Investments LLC acquired a new stake in shares of TechnipFMC in the 2nd quarter valued at about $210,000. Dai Ichi Life Insurance Company Ltd acquired a new stake in shares of TechnipFMC in the 2nd quarter valued at about $210,000. Finally, Chicago Equity Partners LLC acquired a new stake in shares of TechnipFMC in the 2nd quarter valued at about $239,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

About TechnipFMC

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.

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