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

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

Several equities analysts have weighed in on FTI shares. UBS Group reaffirmed an “outperform” rating on shares of TechnipFMC in a research report on Tuesday, October 28th. Zacks Research cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Susquehanna increased their target price on shares of TechnipFMC from $48.00 to $56.00 and gave the stock a “positive” rating in a report on Wednesday. Cowen reissued a “buy” rating on shares of TechnipFMC in a research report on Wednesday. Finally, Citigroup upped their price objective on TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th.

TechnipFMC Stock Up 1.3%

TechnipFMC stock opened at $50.06 on Wednesday. The company has a market capitalization of $20.25 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 0.98 and a beta of 0.66. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.13. TechnipFMC has a fifty-two week low of $22.11 and a fifty-two week high of $50.44. The firm has a 50 day moving average price of $45.01 and a 200 day moving average price of $39.77.

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

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 3rd. Shareholders of record on Tuesday, November 18th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, November 18th. This represents a $0.20 annualized dividend and a yield of 0.4%. TechnipFMC’s dividend payout ratio is 8.93%.

TechnipFMC announced that its board has initiated a share repurchase plan on Wednesday, October 22nd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy up to 13.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of TechnipFMC

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings in TechnipFMC by 3,414.5% in the fourth quarter. SG Americas Securities LLC now owns 509,886 shares of the oil and gas company’s stock valued at $22,721,000 after acquiring an additional 495,378 shares in the last quarter. Fulton Bank N.A. grew its holdings in TechnipFMC by 3.4% during the 4th quarter. Fulton Bank N.A. now owns 12,281 shares of the oil and gas company’s stock worth $547,000 after acquiring an additional 408 shares in the last quarter. True Wealth Design LLC increased its position in shares of TechnipFMC by 8.6% in the 4th quarter. True Wealth Design LLC now owns 4,495 shares of the oil and gas company’s stock valued at $200,000 after purchasing an additional 357 shares during the last quarter. Sound View Wealth Advisors Group LLC acquired a new stake in shares of TechnipFMC in the 4th quarter valued at $200,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of TechnipFMC by 28.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 220,196 shares of the oil and gas company’s stock valued at $10,646,000 after purchasing an additional 49,028 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

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.