StockNews.com Lowers TechnipFMC (NYSE:FTI) to Hold

StockNews.com cut shares of TechnipFMC (NYSE:FTI) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Several other research analysts have also commented on FTI. TD Cowen boosted their price target on TechnipFMC from $26.00 to $28.00 and gave the stock an outperform rating in a research report on Friday, February 23rd. HSBC lowered TechnipFMC from a buy rating to a hold rating and set a $23.60 price target for the company. in a research report on Friday, February 23rd. Barclays upped their target price on TechnipFMC from $32.00 to $33.00 and gave the company an overweight rating in a research report on Tuesday, February 27th. Bank of America upped their target price on TechnipFMC from $24.00 to $28.50 and gave the company a buy rating in a research report on Monday, April 15th. Finally, Susquehanna reaffirmed a positive rating and set a $27.00 target price on shares of TechnipFMC in a research report on Monday, April 8th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $25.34.

TechnipFMC Price Performance

FTI opened at $25.37 on Friday. The business has a fifty day moving average of $23.67 and a 200 day moving average of $21.39. TechnipFMC has a 52-week low of $12.64 and a 52-week high of $27.26. The company has a quick ratio of 0.92, a current ratio of 1.16 and a debt-to-equity ratio of 0.32. The stock has a market cap of $11.09 billion, a P/E ratio of 211.43 and a beta of 1.65.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, February 22nd. The oil and gas company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $1.90 billion. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) EPS. As a group, sell-side analysts anticipate that TechnipFMC will post 1.15 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Tuesday, March 19th were paid a $0.05 dividend. The ex-dividend date was Monday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.79%. TechnipFMC’s payout ratio is 166.68%.

Insider Transactions at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $21.20, for a total value of $264,809.20. Following the sale, the director now owns 103,982 shares in the company, valued at $2,204,418.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On TechnipFMC

A number of hedge funds have recently bought and sold shares of FTI. Parkside Financial Bank & Trust purchased a new position in TechnipFMC during the third quarter worth approximately $29,000. Johnson Financial Group Inc. acquired a new position in shares of TechnipFMC during the fourth quarter valued at approximately $33,000. Quarry LP raised its holdings in shares of TechnipFMC by 76.6% during the fourth quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 768 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of TechnipFMC during the fourth quarter valued at approximately $45,000. Finally, Systematic Alpha Investments LLC acquired a new position in shares of TechnipFMC during the third quarter valued at approximately $146,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

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.