TechnipFMC (NYSE:FTI) Sets New 52-Week High – What’s Next?

TechnipFMC plc (NYSE:FTI) reached a new 52-week high during trading on Tuesday . The company traded as high as $64.99 and last traded at $64.1530, with a volume of 4623843 shares traded. The stock had previously closed at $63.49.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FTI shares. Weiss Ratings reiterated a “buy (b)” rating on shares of TechnipFMC in a research report on Thursday, January 22nd. Susquehanna raised their price objective on shares of TechnipFMC from $56.00 to $71.00 and gave the stock a “positive” rating in a report on Friday. BMO Capital Markets boosted their target price on TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a research note on Monday. Citigroup boosted their price target on shares of TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and lifted their target price for the company from $49.00 to $62.00 in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, TechnipFMC has an average rating of “Moderate Buy” and an average price target of $55.93.

TechnipFMC Price Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.89. The stock has a market cap of $25.66 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 1.23 and a beta of 0.69. The business’s 50-day simple moving average is $52.74 and its two-hundred day simple moving average is $44.57.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.19. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.54 billion. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business earned $0.54 EPS. Research analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, March 17th. TechnipFMC’s dividend payout ratio (DPR) is currently 8.66%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. AE Wealth Management LLC increased its stake in shares of TechnipFMC by 38.0% during the 3rd quarter. AE Wealth Management LLC now owns 183,603 shares of the oil and gas company’s stock worth $7,243,000 after purchasing an additional 50,593 shares in the last quarter. Lingohr Asset Management GmbH grew its holdings in TechnipFMC by 461.7% during the 3rd quarter. Lingohr Asset Management GmbH now owns 212,295 shares of the oil and gas company’s stock valued at $8,375,000 after buying an additional 174,500 shares during the last quarter. Bank of New York Mellon Corp increased its position in TechnipFMC by 80.6% during the third quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock worth $125,144,000 after buying an additional 1,415,621 shares in the last quarter. Rothschild Investment LLC raised its holdings in shares of TechnipFMC by 25,468.9% in the third quarter. Rothschild Investment LLC now owns 11,506 shares of the oil and gas company’s stock worth $454,000 after acquiring an additional 11,461 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of TechnipFMC by 8.4% in the third quarter. New York State Common Retirement Fund now owns 305,535 shares of the oil and gas company’s stock valued at $12,053,000 after acquiring an additional 23,600 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Company Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.