TechnipFMC (NYSE:FTI) Hits New 1-Year High – Here’s Why

by · The Cerbat Gem

TechnipFMC plc (NYSE:FTI – Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $33.45 and last traded at $32.44, with a volume of 307545 shares changing hands. The stock had previously closed at $32.55.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FTI. Piper Sandler initiated coverage on shares of TechnipFMC in a report on Thursday, December 19th. They issued an “overweight” rating and a $39.00 price target for the company. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Tuesday, October 29th. Royal Bank of Canada assumed coverage on TechnipFMC in a report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price target on the stock. Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Susquehanna boosted their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, TechnipFMC has an average rating of “Buy” and a consensus price target of $35.92.

Get Our Latest Analysis on TechnipFMC

TechnipFMC Stock Performance

The stock has a market capitalization of $13.62 billion, a P/E ratio of 21.06 and a beta of 1.54. The company’s fifty day simple moving average is $29.78 and its two-hundred day simple moving average is $27.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14.

TechnipFMC (NYSE:FTI – Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.25. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 EPS. As a group, equities analysts forecast that TechnipFMC plc will post 1.61 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Tuesday, November 19th. TechnipFMC’s dividend payout ratio is 13.16%.

TechnipFMC announced that its board has initiated a share buyback plan on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. boosted its stake in shares of TechnipFMC by 203.6% in the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 735 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of TechnipFMC during the 3rd quarter valued at $30,000. GAMMA Investing LLC grew its holdings in shares of TechnipFMC by 59.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 693 shares in the last quarter. Toth Financial Advisory Corp increased its position in shares of TechnipFMC by 1,900.0% in the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock worth $52,000 after purchasing an additional 1,900 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in TechnipFMC in the third quarter valued at about $56,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Company Profile

(Get Free Report)

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.

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