Brokerages Set TechnipFMC plc (NYSE:FTI) Target Price at $69.64

Shares of TechnipFMC plc (NYSE:FTI) have earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $69.6429.

FTI has been the topic of several recent analyst reports. Evercore restated an “outperform” rating and issued a $83.00 target price on shares of TechnipFMC in a research note on Friday, May 1st. Barclays increased their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Royal Bank Of Canada boosted their price target on shares of TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Finally, Weiss Ratings raised shares of TechnipFMC from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 14th.

Institutional Investors Weigh In On TechnipFMC

Large investors have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new position in TechnipFMC in the 1st quarter valued at $26,000. Newbridge Financial Services Group Inc. bought a new position in shares of TechnipFMC in the third quarter valued at about $32,000. Geneos Wealth Management Inc. lifted its position in TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after buying an additional 340 shares in the last quarter. Ascentis Independent Advisors bought a new stake in TechnipFMC during the 1st quarter worth about $37,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in TechnipFMC in the 4th quarter valued at about $41,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Trading Down 3.8%

FTI stock opened at $72.22 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The firm has a market cap of $28.79 billion, a P/E ratio of 27.56, a P/E/G ratio of 1.58 and a beta of 0.70. TechnipFMC has a 1-year low of $34.27 and a 1-year high of $77.92. The business’s 50 day moving average is $69.53 and its 200-day moving average is $66.66.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the firm earned $0.33 EPS. TechnipFMC’s quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts anticipate that TechnipFMC will post 3.01 earnings per share for the current fiscal year.

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.