Brokerages Set TechnipFMC plc (NYSE:FTI) Target Price at $35.92

Shares of TechnipFMC plc (NYSE:FTI) have been given an average recommendation of “Buy” by the thirteen brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $35.92.

FTI has been the topic of several research analyst reports. Hsbc Global Res upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. BMO Capital Markets boosted their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, October 10th. Citigroup upped their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Bank of America lifted their price target on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $37.00 price objective on shares of TechnipFMC in a research note on Wednesday, November 27th.

TechnipFMC Stock Down 0.0 %

FTI stock opened at $28.94 on Friday. TechnipFMC has a one year low of $18.33 and a one year high of $32.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The company has a fifty day moving average of $29.13 and a 200-day moving average of $27.36. The stock has a market capitalization of $12.31 billion, a PE ratio of 19.04 and a beta of 1.54.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. As a group, analysts expect that TechnipFMC will post 1.61 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.69%. The ex-dividend date was Tuesday, November 19th. TechnipFMC’s payout ratio is 13.16%.

TechnipFMC announced that its Board of Directors has approved a share repurchase program on Wednesday, October 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of TechnipFMC

Hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. grew its holdings in TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after buying an additional 679,748 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in TechnipFMC by 971.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock worth $10,692,000 after purchasing an additional 369,594 shares during the last quarter. ING Groep NV increased its position in TechnipFMC by 15.3% during the third quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock worth $22,697,000 after purchasing an additional 114,600 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of TechnipFMC in the 3rd quarter valued at $49,273,000. Finally, Entropy Technologies LP purchased a new stake in shares of TechnipFMC during the 3rd quarter valued at $575,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

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.