TechnipFMC plc (NYSE:FTI) Receives $66.53 Average Target Price from Analysts

Shares of TechnipFMC plc (NYSE:FTI) have received a consensus recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $66.5333.

A number of analysts have weighed in on FTI shares. UBS Group set a $70.00 price objective on shares of TechnipFMC in a report on Friday, February 20th. Citigroup raised their price objective on shares of TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. HSBC cut shares of TechnipFMC from a “buy” rating to a “hold” rating and raised their price objective for the stock from $49.00 to $62.00 in a report on Friday, February 20th. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Zacks Research cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th.

TechnipFMC Stock Down 2.5%

Shares of TechnipFMC stock opened at $71.21 on Tuesday. TechnipFMC has a 52-week low of $28.87 and a 52-week high of $77.78. The company has a 50 day moving average of $70.27 and a 200 day moving average of $57.33. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $28.39 billion, a P/E ratio of 27.18, a P/E/G ratio of 1.45 and a beta of 0.74.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter last year, the company earned $0.33 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, research analysts forecast that TechnipFMC will post 2.95 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, May 19th. TechnipFMC’s payout ratio is presently 7.63%.

Insiders Place Their Bets

In other news, insider Jonathan Landes sold 116,194 shares of TechnipFMC stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.20, for a total value of $7,227,266.80. Following the transaction, the insider directly owned 71,356 shares of the company’s stock, valued at $4,438,343.20. The trade was a 61.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas J. Pferdehirt sold 733,424 shares of TechnipFMC stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.24, for a total transaction of $45,648,309.76. Following the completion of the transaction, the chief executive officer directly owned 2,411,852 shares in the company, valued at $150,113,668.48. The trade was a 23.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,216,442 shares of company stock worth $75,762,414. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On TechnipFMC

Institutional investors have recently modified their holdings of the business. AE Wealth Management LLC increased its stake in TechnipFMC by 38.0% in the 3rd quarter. AE Wealth Management LLC now owns 183,603 shares of the oil and gas company’s stock valued at $7,243,000 after buying an additional 50,593 shares during the period. Lingohr Asset Management GmbH increased its stake in TechnipFMC by 461.7% in the 3rd quarter. Lingohr Asset Management GmbH now owns 212,295 shares of the oil and gas company’s stock valued at $8,375,000 after buying an additional 174,500 shares during the period. Bank of New York Mellon Corp increased its stake in TechnipFMC by 80.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock valued at $125,144,000 after buying an additional 1,415,621 shares during the period. New York State Common Retirement Fund increased its stake in TechnipFMC by 8.4% in the 3rd quarter. New York State Common Retirement Fund now owns 305,535 shares of the oil and gas company’s stock valued at $12,053,000 after buying an additional 23,600 shares during the period. Finally, Savvy Advisors Inc. acquired a new position in TechnipFMC in the 3rd quarter valued at $708,000. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Company Profile

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.