TechnipFMC (FTI) PT Lowered to $27.00

TechnipFMC (NYSE:FTI) had its price objective lowered by Barclays from $29.00 to $27.00 in a research note published on Wednesday, BenzingaRatingsTable reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

Several other analysts have also issued reports on the company. Wells Fargo & Co set a $26.00 price objective on TechnipFMC and gave the stock a buy rating in a report on Friday, February 22nd. Berenberg Bank started coverage on TechnipFMC in a report on Tuesday, February 26th. They set a buy rating for the company. Piper Jaffray Companies reiterated a buy rating and set a $29.00 price objective on shares of TechnipFMC in a report on Monday, April 29th. BNP Paribas upgraded TechnipFMC from an underperform rating to a neutral rating in a report on Tuesday, January 22nd. Finally, Cowen reiterated a buy rating on shares of TechnipFMC in a report on Tuesday, February 26th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $31.80.

Shares of NYSE:FTI traded up $0.32 during midday trading on Wednesday, hitting $23.12. 42,492 shares of the stock were exchanged, compared to its average volume of 4,059,042. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 0.44. TechnipFMC has a 52-week low of $18.20 and a 52-week high of $34.39. The firm has a market cap of $10.28 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 2.81 and a beta of 1.25.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.24). TechnipFMC had a positive return on equity of 2.23% and a negative net margin of 16.17%. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the prior year, the business posted $0.28 earnings per share. TechnipFMC’s revenue was down 6.8% on a year-over-year basis. On average, sell-side analysts forecast that TechnipFMC will post 1.31 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.25%. The ex-dividend date is Monday, May 20th.

Institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC grew its position in shares of TechnipFMC by 6.5% in the first quarter. Nisa Investment Advisors LLC now owns 8,400 shares of the oil and gas company’s stock valued at $198,000 after purchasing an additional 514 shares during the last quarter. Stifel Financial Corp grew its position in TechnipFMC by 1.8% during the fourth quarter. Stifel Financial Corp now owns 29,130 shares of the oil and gas company’s stock worth $568,000 after buying an additional 523 shares in the last quarter. Fifth Third Bancorp grew its position in TechnipFMC by 14.3% during the first quarter. Fifth Third Bancorp now owns 4,489 shares of the oil and gas company’s stock worth $106,000 after buying an additional 560 shares in the last quarter. Advisor Group Inc. grew its position in TechnipFMC by 30.0% during the first quarter. Advisor Group Inc. now owns 3,067 shares of the oil and gas company’s stock worth $73,000 after buying an additional 708 shares in the last quarter. Finally, Mason Street Advisors LLC grew its position in TechnipFMC by 1.2% during the first quarter. Mason Street Advisors LLC now owns 60,700 shares of the oil and gas company’s stock worth $1,428,000 after buying an additional 715 shares in the last quarter. 70.30% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Company Profile

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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Analyst Recommendations for TechnipFMC (NYSE:FTI)

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