Goldman Sachs Group, Inc. (The) downgraded shares of FMC Technologies, Inc. (NYSE:FTI) from a buy rating to a neutral rating in a research report released on Monday morning. The firm currently has $30.00 price objective on the oil and gas company’s stock.
Several other brokerages also recently issued reports on FTI. Seaport Global Securities restated a neutral rating on shares of FMC Technologies in a research report on Thursday, July 27th. Scotiabank set a $36.00 price objective on FMC Technologies and gave the company a buy rating in a research report on Thursday, July 27th. BidaskClub upgraded FMC Technologies from a strong sell rating to a sell rating in a research report on Tuesday, August 1st. UBS AG reiterated a buy rating and issued a $36.00 target price (down from $40.00) on shares of FMC Technologies in a research note on Monday, July 31st. Finally, Citigroup Inc. upgraded FMC Technologies from a neutral rating to a buy rating and upped their target price for the company from $26.00 to $30.00 in a research note on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $34.03.
Shares of FMC Technologies (NYSE:FTI) traded down $0.52 during trading hours on Monday, hitting $28.40. The stock had a trading volume of 3,057,200 shares, compared to its average volume of 4,137,338. The company has a current ratio of 1.22, a quick ratio of 1.14 and a debt-to-equity ratio of 0.23. FMC Technologies has a twelve month low of $24.53 and a twelve month high of $37.09.
FMC Technologies (NYSE:FTI) last issued its quarterly earnings data on Wednesday, October 25th. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.07). The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter in the prior year, the company earned $0.22 EPS. The firm’s quarterly revenue was up 74.3% on a year-over-year basis. equities analysts anticipate that FMC Technologies will post 1.61 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 21st will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $0.52 annualized dividend and a yield of 1.83%.
Several hedge funds have recently bought and sold shares of the company. First Eagle Investment Management LLC grew its stake in shares of FMC Technologies by 10.9% in the third quarter. First Eagle Investment Management LLC now owns 33,933,562 shares of the oil and gas company’s stock valued at $947,425,000 after buying an additional 3,347,874 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of FMC Technologies by 3.4% in the second quarter. Vanguard Group Inc. now owns 27,167,998 shares of the oil and gas company’s stock valued at $738,969,000 after buying an additional 896,416 shares in the last quarter. BlackRock Inc. grew its stake in shares of FMC Technologies by 7.8% in the second quarter. BlackRock Inc. now owns 21,731,728 shares of the oil and gas company’s stock valued at $591,104,000 after buying an additional 1,571,751 shares in the last quarter. State Street Corp grew its stake in shares of FMC Technologies by 2.0% in the second quarter. State Street Corp now owns 20,888,596 shares of the oil and gas company’s stock valued at $568,171,000 after buying an additional 417,151 shares in the last quarter. Finally, AXA grew its stake in shares of FMC Technologies by 16.3% in the second quarter. AXA now owns 8,697,311 shares of the oil and gas company’s stock valued at $236,567,000 after buying an additional 1,222,075 shares in the last quarter. Institutional investors and hedge funds own 66.88% of the company’s stock.
FMC Technologies Company Profile
FMC Technologies, Inc is a global provider of technology solutions for the energy industry. The Company designs, manufactures and services a range of systems and products, including subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems.
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