FMC Technologies, Inc. (FTI) Lowered to “Neutral” at Goldman Sachs Group, Inc. (The)

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.

Analyst Recommendations for FMC Technologies (NYSE:FTI)

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