TechnipFMC plc (NYSE:FTI) Receives $46.67 Average Target Price from Analysts

TechnipFMC plc (NYSE:FTI) has been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $46.6667.

Several analysts have recently commented on the stock. Zacks Research cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Royal Bank Of Canada upped their price objective on TechnipFMC from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of TechnipFMC in a research report on Wednesday, October 8th. Piper Sandler boosted their target price on TechnipFMC from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Finally, Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, October 4th.

TechnipFMC Price Performance

Shares of FTI stock opened at $44.33 on Friday. TechnipFMC has a 52 week low of $22.11 and a 52 week high of $47.33. The stock has a market capitalization of $17.93 billion, a PE ratio of 19.79, a PEG ratio of 1.04 and a beta of 0.68. 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 stock’s fifty day moving average is $42.30 and its 200-day moving average is $38.24.

TechnipFMC (NYSE:FTI) last issued its quarterly 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. TechnipFMC had a net margin of 9.67% and a return on equity of 30.23%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the prior year, the company earned $0.64 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. Equities research analysts expect that TechnipFMC will post 1.63 EPS for the current fiscal year.

TechnipFMC declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 22nd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 13.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Tuesday, November 18th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, November 18th. TechnipFMC’s dividend payout ratio (DPR) is 8.93%.

Insider Buying and Selling

In related news, CFO Alf Melin sold 113,760 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $38.61, for a total transaction of $4,392,273.60. Following the completion of the sale, the chief financial officer directly owned 241,140 shares of the company’s stock, valued at $9,310,415.40. The trade was a 32.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Douglas J. Pferdehirt sold 80,304 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $38.35, for a total transaction of $3,079,658.40. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 876,603 shares of company stock valued at $33,832,588 over the last ninety days. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

A number of institutional investors have recently made changes to their positions in FTI. Ameriprise Financial Inc. lifted its stake in TechnipFMC by 9.0% in the first quarter. Ameriprise Financial Inc. now owns 18,030,976 shares of the oil and gas company’s stock valued at $571,583,000 after buying an additional 1,492,746 shares during the period. AQR Capital Management LLC increased its stake in shares of TechnipFMC by 34.0% in the 3rd quarter. AQR Capital Management LLC now owns 13,316,569 shares of the oil and gas company’s stock valued at $525,339,000 after acquiring an additional 3,378,159 shares during the last quarter. State Street Corp raised its position in shares of TechnipFMC by 62.2% in the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after acquiring an additional 4,938,498 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in TechnipFMC by 2.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,374,192 shares of the oil and gas company’s stock worth $409,262,000 after acquiring an additional 232,491 shares during the last quarter. Finally, Boston Partners boosted its stake in TechnipFMC by 2.0% during the 3rd quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock worth $389,018,000 after acquiring an additional 192,549 shares during 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.