$1.67 Billion in Sales Expected for TechnipFMC plc (NYSE:FTI) This Quarter

Analysts predict that TechnipFMC plc (NYSE:FTI) will post $1.67 billion in sales for the current quarter, Zacks reports. Twenty One analysts have issued estimates for TechnipFMC’s earnings, with estimates ranging from $1.55 billion to $1.73 billion. TechnipFMC posted sales of $3.34 billion during the same quarter last year, which suggests a negative year over year growth rate of 50%. The company is expected to report its next earnings results on Wednesday, October 20th.

According to Zacks, analysts expect that TechnipFMC will report full-year sales of $6.52 billion for the current year, with estimates ranging from $6.35 billion to $6.67 billion. For the next financial year, analysts expect that the firm will post sales of $6.72 billion, with estimates ranging from $5.99 billion to $7.50 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for TechnipFMC.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Wednesday, July 21st. The oil and gas company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.61 billion. TechnipFMC had a return on equity of 1.40% and a net margin of 1.57%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 earnings per share.

Separately, Cowen raised their price objective on TechnipFMC from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Thursday, June 17th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, TechnipFMC has a consensus rating of “Hold” and a consensus price target of $10.34.

TechnipFMC stock opened at $6.77 on Friday. The stock’s 50-day moving average is $6.96 and its 200-day moving average is $7.91. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 19.62 and a beta of 2.26. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.56 and a quick ratio of 1.26. TechnipFMC has a 12 month low of $5.11 and a 12 month high of $13.04.

A number of hedge funds and other institutional investors have recently modified their holdings of FTI. Y Intercept Hong Kong Ltd acquired a new position in shares of TechnipFMC in the 2nd quarter worth approximately $123,000. Marshall Wace North America L.P. acquired a new position in shares of TechnipFMC in the 2nd quarter worth approximately $971,000. Wells Fargo & Company MN grew its position in shares of TechnipFMC by 35.5% in the 2nd quarter. Wells Fargo & Company MN now owns 2,113,884 shares of the oil and gas company’s stock worth $19,130,000 after acquiring an additional 553,693 shares in the last quarter. Kiwi Wealth Investments Limited Partnership acquired a new position in shares of TechnipFMC in the 2nd quarter worth approximately $1,297,000. Finally, Invesco Ltd. grew its position in shares of TechnipFMC by 83.8% in the 2nd quarter. Invesco Ltd. now owns 8,867,468 shares of the oil and gas company’s stock worth $80,251,000 after acquiring an additional 4,043,191 shares in the last quarter. Hedge funds and other institutional investors own 80.31% of the company’s stock.

About TechnipFMC

TechnipFMC Plc is an energy service company, which engages in the provision of solutions for the production and transformation of hydrocarbons. It operates through the following segments: Subsea and Surface Technologies. The Subsea segment engages in designing, engineering, procurement, manufacturing, fabrication and 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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Earnings History and Estimates for TechnipFMC (NYSE:FTI)

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