TechnipFMC (NYSE:FTI) Downgraded by Wall Street Zen to Hold

by · The Cerbat Gem

Wall Street Zen lowered shares of TechnipFMC (NYSE:FTI – Free Report) from a buy rating to a hold rating in a report issued on Friday morning.

Other equities research analysts have also recently issued reports about the company. Royal Bank Of Canada reissued an “outperform” rating and set a $37.00 price target on shares of TechnipFMC in a report on Monday, April 28th. Piper Sandler lifted their target price on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Barclays lifted their target price on TechnipFMC from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Sanford C. Bernstein cut TechnipFMC from a “strong-buy” rating to a “hold” rating and set a $32.00 target price on the stock. in a report on Thursday, May 22nd. Finally, Susquehanna reduced their price objective on TechnipFMC from $41.00 to $35.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.46.

Read Our Latest Research Report on FTI

TechnipFMC Stock Performance

FTI stock opened at $34.57 on Friday. The company has a market cap of $14.49 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 1.19 and a beta of 1.06. TechnipFMC has a 1 year low of $22.12 and a 1 year high of $35.71. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 0.84. The stock’s fifty day moving average price is $31.15 and its 200-day moving average price is $29.92.

TechnipFMC (NYSE:FTI – Get Free Report) last released its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.26 billion. TechnipFMC had a net margin of 8.93% and a return on equity of 27.01%. TechnipFMC’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 earnings per share. On average, equities analysts forecast that TechnipFMC will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.58%. TechnipFMC’s dividend payout ratio is presently 10.53%.

Institutional Trading of TechnipFMC

Several hedge funds and other institutional investors have recently made changes to their positions in the business. New York State Teachers Retirement System purchased a new position in TechnipFMC in the 1st quarter worth $33,000. Geneos Wealth Management Inc. raised its stake in TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 340 shares during the last quarter. Smartleaf Asset Management LLC grew its position in TechnipFMC by 55.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 525 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in TechnipFMC during the 4th quarter worth about $46,000. Finally, Financial Network Wealth Advisors LLC grew its position in TechnipFMC by 29.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company’s stock worth $48,000 after purchasing an additional 346 shares during the period. Hedge funds and other institutional investors 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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