TechnipFMC (NYSE:FTI) Rating Increased to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of TechnipFMC (NYSE:FTI) from a hold rating to a strong-buy rating in a report issued on Tuesday morning, Zacks.com reports.

A number of other research firms have also recently weighed in on FTI. Susquehanna increased their price target on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. Barclays boosted their price target on shares of TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. TD Cowen increased their price objective on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. BMO Capital Markets boosted their target price on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. Finally, HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and an average price target of $32.41.

TechnipFMC Price Performance

TechnipFMC stock opened at $26.28 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The stock has a market cap of $11.18 billion, a P/E ratio of 17.29 and a beta of 1.50. The company has a 50-day moving average price of $26.12 and a 200 day moving average price of $26.19. TechnipFMC has a 12-month low of $18.33 and a 12-month high of $29.85.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.39 by $0.25. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 EPS. Sell-side analysts anticipate that TechnipFMC will post 1.42 earnings per share for the current year.

TechnipFMC declared that its Board of Directors has initiated a share repurchase program on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC’s payout ratio is presently 13.16%.

Institutional Investors Weigh In On TechnipFMC

A number of large investors have recently modified their holdings of FTI. Allspring Global Investments Holdings LLC increased its holdings in TechnipFMC by 43.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,405 shares of the oil and gas company’s stock valued at $211,000 after buying an additional 2,543 shares during the last quarter. Norden Group LLC raised its position in shares of TechnipFMC by 99.9% during the 1st quarter. Norden Group LLC now owns 25,260 shares of the oil and gas company’s stock worth $634,000 after acquiring an additional 12,626 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in TechnipFMC during the first quarter worth approximately $848,000. Janney Montgomery Scott LLC acquired a new position in TechnipFMC in the first quarter valued at approximately $205,000. Finally, Whittier Trust Co. purchased a new stake in shares of TechnipFMC during the 1st quarter worth approximately $29,000. 96.58% of the stock is owned by hedge funds and other 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.