TechnipFMC (NYSE:FTI) Rating Lowered to Underperform at Bernstein Bank

TechnipFMC (NYSE:FTI) was downgraded by stock analysts at Bernstein Bank to an “underperform” rating in a research note issued to investors on Tuesday, Stock Target Advisor reports.

A number of other brokerages have also recently issued reports on FTI. Citigroup upgraded TechnipFMC from a “neutral” rating to a “buy” rating and set a $23.60 target price on the stock in a report on Wednesday, December 11th. JPMorgan Chase & Co. raised their target price on TechnipFMC from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Berenberg Bank cut TechnipFMC from a “buy” rating to a “hold” rating and reduced their target price for the stock from $29.00 to $22.50 in a report on Friday, November 22nd. Deutsche Bank assumed coverage on TechnipFMC in a report on Wednesday, November 27th. They set a “buy” rating and a $33.00 target price on the stock. Finally, Barclays restated a “hold” rating on shares of TechnipFMC in a report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. TechnipFMC currently has a consensus rating of “Buy” and an average target price of $28.12.

TechnipFMC stock traded down $0.08 during mid-day trading on Tuesday, hitting $20.10. The stock had a trading volume of 1,341,523 shares, compared to its average volume of 2,823,284. The stock has a 50-day simple moving average of $20.30 and a two-hundred day simple moving average of $22.85. The stock has a market capitalization of $9.40 billion, a PE ratio of 24.51, a P/E/G ratio of 1.05 and a beta of 1.47. TechnipFMC has a 12 month low of $18.42 and a 12 month high of $28.57. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.38). TechnipFMC had a negative net margin of 16.30% and a positive return on equity of 2.11%. The firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the prior year, the business earned $1.09 EPS. TechnipFMC’s revenue was up 6.1% on a year-over-year basis. Sell-side analysts expect that TechnipFMC will post 1.17 earnings per share for the current fiscal year.

In other TechnipFMC news, Director Olivier Piou bought 3,000 shares of TechnipFMC stock in a transaction dated Friday, November 22nd. The stock was bought at an average cost of $19.49 per share, for a total transaction of $58,470.00. Following the purchase, the director now owns 3,000 shares of the company’s stock, valued at approximately $58,470. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Maryann T. Mannen sold 14,500 shares of TechnipFMC stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $20.84, for a total value of $302,180.00. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Private Capital Group LLC boosted its stake in shares of TechnipFMC by 375.0% during the 2nd quarter. Private Capital Group LLC now owns 1,121 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 885 shares during the period. Liberty Wealth Management LLC bought a new position in shares of TechnipFMC during the 3rd quarter worth approximately $37,000. Signaturefd LLC boosted its stake in shares of TechnipFMC by 22.1% during the 3rd quarter. Signaturefd LLC now owns 2,650 shares of the oil and gas company’s stock worth $64,000 after acquiring an additional 480 shares during the period. Boston Partners bought a new stake in TechnipFMC in the 2nd quarter valued at $157,000. Finally, First Mercantile Trust Co. boosted its stake in TechnipFMC by 13.4% in the 3rd quarter. First Mercantile Trust Co. now owns 6,998 shares of the oil and gas company’s stock valued at $169,000 after purchasing an additional 825 shares during the period. Institutional investors own 79.86% 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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