TechnipFMC plc (NYSE:FTI) Receives $46.67 Average PT from Brokerages

TechnipFMC plc (NYSE:FTI) has been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $46.6667.

FTI has been the topic of several research analyst reports. UBS Group reissued an “outperform” rating on shares of TechnipFMC in a research note on Tuesday, October 28th. BNP Paribas set a $47.00 price objective on shares of TechnipFMC and gave the company an “outperform” rating in a research note on Friday, October 10th. Barclays boosted their target price on TechnipFMC from $51.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Citigroup lifted their price target on TechnipFMC from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th.

Insiders Place Their Bets

In other TechnipFMC news, CFO Alf Melin sold 113,760 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $38.61, for a total value of $4,392,273.60. Following the transaction, the chief financial officer owned 241,140 shares of the company’s stock, valued at approximately $9,310,415.40. This represents a 32.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas J. Pferdehirt sold 632,539 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $38.62, for a total value of $24,428,656.18. Following the sale, the chief executive officer directly owned 2,917,054 shares of the company’s stock, valued at approximately $112,656,625.48. This represents a 17.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 876,603 shares of company stock worth $33,832,588. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On TechnipFMC

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. New Mexico Educational Retirement Board acquired a new stake in TechnipFMC during the 3rd quarter worth about $3,302,000. Allworth Financial LP increased its position in shares of TechnipFMC by 120.4% in the third quarter. Allworth Financial LP now owns 10,631 shares of the oil and gas company’s stock worth $419,000 after acquiring an additional 5,808 shares in the last quarter. Swiss Life Asset Management Ltd increased its position in shares of TechnipFMC by 60.9% in the third quarter. Swiss Life Asset Management Ltd now owns 20,832 shares of the oil and gas company’s stock worth $822,000 after acquiring an additional 7,888 shares in the last quarter. Investment Research Partners LLC acquired a new stake in shares of TechnipFMC during the third quarter valued at approximately $229,000. Finally, CIBC Private Wealth Group LLC lifted its position in shares of TechnipFMC by 826.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,769 shares of the oil and gas company’s stock valued at $109,000 after acquiring an additional 2,470 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Down 0.2%

FTI opened at $46.21 on Friday. The stock’s 50 day moving average price is $42.06 and its 200 day moving average price is $38.11. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 0.90. The stock has a market cap of $18.69 billion, a P/E ratio of 20.63, a P/E/G ratio of 1.10 and a beta of 0.68. TechnipFMC has a 12 month low of $22.11 and a 12 month high of $47.33.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.10. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.60 billion. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 earnings per share. As a group, research analysts predict that TechnipFMC will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Tuesday, November 18th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.4%. TechnipFMC’s payout ratio is currently 8.93%.

TechnipFMC announced that its Board of Directors has authorized a share buyback program on Wednesday, October 22nd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the oil and gas company to purchase up to 13.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

About TechnipFMC

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.