Brokerages Set TechnipFMC plc (NYSE:FTI) Price Target at $46.92

Shares of TechnipFMC plc (NYSE:FTI) have been assigned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $48.4615.

A number of analysts have commented on FTI shares. Zacks Research downgraded shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Susquehanna upped their price target on TechnipFMC from $48.00 to $56.00 and gave the company a “positive” rating in a research report on Wednesday, January 7th. Royal Bank Of Canada lifted their price objective on TechnipFMC from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. TD Cowen boosted their price objective on TechnipFMC from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Finally, UBS Group reaffirmed an “outperform” rating on shares of TechnipFMC in a research note on Tuesday, October 28th.

TechnipFMC Stock Up 1.8%

NYSE FTI opened at $51.33 on Wednesday. The business has a fifty day moving average price of $45.33 and a 200 day moving average price of $39.99. TechnipFMC has a one year low of $22.11 and a one year high of $51.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.13. The company has a market cap of $20.76 billion, a P/E ratio of 22.94, a P/E/G ratio of 0.98 and a beta of 0.66.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.10. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.60 billion. TechnipFMC had a net margin of 9.67% and a return on equity of 30.23%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 EPS. Research analysts anticipate that TechnipFMC will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Tuesday, November 18th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.4%. The ex-dividend date was Tuesday, November 18th. TechnipFMC’s dividend payout ratio (DPR) is presently 8.93%.

TechnipFMC declared that its Board of Directors has approved a share repurchase program on Wednesday, October 22nd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 13.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of TechnipFMC

Several institutional investors have recently made changes to their positions in FTI. Vident Advisory LLC raised its holdings in shares of TechnipFMC by 15.6% in the 1st quarter. Vident Advisory LLC now owns 9,218 shares of the oil and gas company’s stock valued at $292,000 after buying an additional 1,241 shares during the period. EP Wealth Advisors LLC acquired a new stake in shares of TechnipFMC during the first quarter worth about $230,000. Goldman Sachs Group Inc. boosted its stake in shares of TechnipFMC by 21.6% in the first quarter. Goldman Sachs Group Inc. now owns 5,124,326 shares of the oil and gas company’s stock valued at $162,390,000 after purchasing an additional 910,891 shares during the period. Great Lakes Advisors LLC grew its holdings in shares of TechnipFMC by 17.6% in the first quarter. Great Lakes Advisors LLC now owns 15,467 shares of the oil and gas company’s stock valued at $490,000 after purchasing an additional 2,315 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in TechnipFMC during the 1st quarter worth approximately $7,282,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

About TechnipFMC

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.