Evercore ISI Raises TechnipFMC (NYSE:FTI) Price Target to $46.00

TechnipFMC (NYSE:FTI) had its price target raised by investment analysts at Evercore ISI from $42.00 to $46.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the oil and gas company’s stock. Evercore ISI’s price objective would suggest a potential upside of 26.11% from the company’s previous close.

A number of other brokerages have also weighed in on FTI. Barclays raised their price objective on TechnipFMC from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Sanford C. Bernstein lowered TechnipFMC from a “strong-buy” rating to a “hold” rating and set a $32.00 price target on the stock. in a report on Thursday, May 22nd. Wall Street Zen lowered TechnipFMC from a “buy” rating to a “hold” rating in a report on Friday, June 27th. BTIG Research lowered TechnipFMC from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $37.00 price target on shares of TechnipFMC in a report on Monday, April 28th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.92.

TechnipFMC Trading Down 2.8%

Shares of FTI stock opened at $36.48 on Friday. The stock’s fifty day moving average is $33.36 and its two-hundred day moving average is $30.56. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 1.10. The firm has a market capitalization of $15.29 billion, a P/E ratio of 17.21, a PEG ratio of 1.23 and a beta of 1.07. TechnipFMC has a fifty-two week low of $22.11 and a fifty-two week high of $38.05.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.11. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 EPS. Research analysts expect that TechnipFMC will post 1.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TechnipFMC

Several institutional investors have recently bought and sold shares of FTI. Commonwealth Equity Services LLC grew its position in TechnipFMC by 49.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,206 shares of the oil and gas company’s stock valued at $411,000 after acquiring an additional 4,684 shares in the last quarter. Virtu Financial LLC acquired a new position in TechnipFMC in the 4th quarter valued at about $207,000. LPL Financial LLC grew its position in TechnipFMC by 9.8% in the 4th quarter. LPL Financial LLC now owns 409,621 shares of the oil and gas company’s stock valued at $12,482,000 after acquiring an additional 36,652 shares in the last quarter. Vanguard Group Inc. grew its position in TechnipFMC by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company’s stock valued at $1,180,576,000 after acquiring an additional 1,623,864 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in TechnipFMC by 1.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 93,396 shares of the oil and gas company’s stock valued at $2,703,000 after acquiring an additional 997 shares in the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.