Analysts Offer Predictions for TechnipFMC plc’s Q2 2024 Earnings (NYSE:FTI)

TechnipFMC plc (NYSE:FTI) – Analysts at Capital One Financial raised their Q2 2024 earnings estimates for shares of TechnipFMC in a research report issued to clients and investors on Tuesday, April 23rd. Capital One Financial analyst D. Becker now forecasts that the oil and gas company will post earnings of $0.32 per share for the quarter, up from their previous estimate of $0.30. The consensus estimate for TechnipFMC’s current full-year earnings is $1.15 per share. Capital One Financial also issued estimates for TechnipFMC’s FY2024 earnings at $1.16 EPS, Q2 2025 earnings at $0.49 EPS and FY2025 earnings at $1.88 EPS.

FTI has been the subject of a number of other reports. StockNews.com cut TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Barclays boosted their price objective on TechnipFMC from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Bank of America boosted their price objective on TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a report on Monday, April 15th. TD Cowen boosted their price objective on TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday. Finally, HSBC cut TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price objective for the company. in a report on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and an average price target of $26.07.

TechnipFMC Stock Performance

TechnipFMC stock opened at $26.59 on Thursday. The stock has a 50-day simple moving average of $24.21 and a 200 day simple moving average of $21.54. The company has a quick ratio of 0.92, a current ratio of 1.16 and a debt-to-equity ratio of 0.32. TechnipFMC has a 12-month low of $12.64 and a 12-month high of $27.26. The stock has a market capitalization of $11.62 billion, a price-to-earnings ratio of 221.58 and a beta of 1.65.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.96 billion. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be given a $0.05 dividend. The ex-dividend date is Monday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.75%. TechnipFMC’s dividend payout ratio is presently 166.67%.

Insider Activity at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total value of $264,809.20. Following the completion of the transaction, the director now directly owns 103,982 shares in the company, valued at approximately $2,204,418.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.06% of the stock is owned by insiders.

Hedge Funds Weigh In On TechnipFMC

Large investors have recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. acquired a new position in TechnipFMC during the 4th quarter worth approximately $37,976,000. Cerity Partners LLC acquired a new position in TechnipFMC during the 4th quarter worth approximately $6,836,000. SG Americas Securities LLC boosted its holdings in shares of TechnipFMC by 71.1% in the 4th quarter. SG Americas Securities LLC now owns 152,526 shares of the oil and gas company’s stock valued at $3,072,000 after buying an additional 63,378 shares during the last quarter. Syntal Capital Partners LLC acquired a new stake in shares of TechnipFMC in the 3rd quarter valued at approximately $665,000. Finally, Vanguard Group Inc. boosted its holdings in shares of TechnipFMC by 320.3% in the 3rd quarter. Vanguard Group Inc. now owns 39,788,733 shares of the oil and gas company’s stock valued at $809,303,000 after buying an additional 30,323,011 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

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.