TechnipFMC plc Expected to Earn Q3 2024 Earnings of $0.35 Per Share (NYSE:FTI)

TechnipFMC plc (NYSE:FTI) – Research analysts at Zacks Research boosted their Q3 2024 earnings estimates for shares of TechnipFMC in a report released on Thursday, August 29th. Zacks Research analyst N. Choudhury now anticipates that the oil and gas company will post earnings of $0.35 per share for the quarter, up from their prior estimate of $0.34. The consensus estimate for TechnipFMC’s current full-year earnings is $1.34 per share. Zacks Research also issued estimates for TechnipFMC’s FY2024 earnings at $1.30 EPS, Q1 2025 earnings at $0.32 EPS, Q3 2025 earnings at $0.48 EPS, Q4 2025 earnings at $0.47 EPS, FY2025 earnings at $1.73 EPS, Q1 2026 earnings at $0.53 EPS and FY2026 earnings at $2.31 EPS.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the previous year, the business posted $0.10 EPS. The company’s quarterly revenue was up 17.9% on a year-over-year basis.

FTI has been the topic of a number of other research reports. Citigroup upped their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Susquehanna upped their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.38.

TechnipFMC Stock Performance

Shares of FTI stock opened at $25.49 on Monday. TechnipFMC has a 12 month low of $18.33 and a 12 month high of $29.85. The stock has a market cap of $10.92 billion, a PE ratio of 54.23 and a beta of 1.52. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The company’s fifty day moving average price is $26.88 and its 200-day moving average price is $25.57.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.78%. The ex-dividend date is Tuesday, August 20th. TechnipFMC’s dividend payout ratio is 42.55%.

Insider Buying and Selling

In related news, CAO David Light sold 5,928 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total value of $153,001.68. Following the completion of the sale, the chief accounting officer now directly owns 11,534 shares of the company’s stock, valued at approximately $297,692.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.06% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oak Thistle LLC boosted its stake in TechnipFMC by 3.2% in the 2nd quarter. Oak Thistle LLC now owns 13,705 shares of the oil and gas company’s stock worth $358,000 after purchasing an additional 421 shares during the period. Pallas Capital Advisors LLC boosted its stake in TechnipFMC by 5.1% in the 2nd quarter. Pallas Capital Advisors LLC now owns 8,901 shares of the oil and gas company’s stock worth $246,000 after purchasing an additional 433 shares during the period. GAMMA Investing LLC boosted its stake in TechnipFMC by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 492 shares during the period. Inceptionr LLC boosted its stake in TechnipFMC by 2.2% in the 4th quarter. Inceptionr LLC now owns 24,612 shares of the oil and gas company’s stock worth $496,000 after purchasing an additional 540 shares during the period. Finally, Creative Planning boosted its stake in TechnipFMC by 3.2% in the 2nd quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock worth $455,000 after purchasing an additional 546 shares during the period. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Company Profile

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.