Griffin Securities Comments on TechnipFMC plc’s FY2024 Earnings (NYSE:FTI)

TechnipFMC plc (NYSE:FTI) – Griffin Securities lifted their FY2024 EPS estimates for TechnipFMC in a research report issued on Monday, April 29th. Griffin Securities analyst K. Simpson now anticipates that the oil and gas company will earn $1.20 per share for the year, up from their previous estimate of $1.15. The consensus estimate for TechnipFMC’s current full-year earnings is $1.15 per share. Griffin Securities also issued estimates for TechnipFMC’s Q1 2025 earnings at $0.27 EPS, Q2 2025 earnings at $0.50 EPS, Q4 2025 earnings at $0.47 EPS and FY2025 earnings at $1.75 EPS.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. TechnipFMC had a return on equity of 9.60% and a net margin of 2.61%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.96 billion. The firm’s revenue was up 18.9% on a year-over-year basis.

A number of other analysts have also issued reports on FTI. Bank of America boosted their price objective on TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a research note on Monday, April 15th. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Sunday. Barclays raised their price target on TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Monday. Benchmark reissued a “buy” rating and set a $30.00 price objective on shares of TechnipFMC in a report on Friday, April 26th. Finally, Susquehanna raised their target price on shares of TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a research note on Friday, April 26th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.14.

TechnipFMC Stock Down 3.7 %

FTI opened at $25.62 on Tuesday. TechnipFMC has a 12 month low of $12.64 and a 12 month high of $27.26. The company has a 50 day moving average of $24.35 and a 200 day moving average of $21.61. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.30. The company has a market cap of $11.20 billion, a PE ratio of 54.51 and a beta of 1.65.

Institutional Trading of TechnipFMC

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Inceptionr LLC grew its holdings in shares of TechnipFMC by 2.2% in the fourth quarter. Inceptionr LLC now owns 24,612 shares of the oil and gas company’s stock worth $496,000 after purchasing an additional 540 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of TechnipFMC by 0.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 126,410 shares of the oil and gas company’s stock valued at $2,571,000 after acquiring an additional 660 shares during the last quarter. Fulton Bank N.A. boosted its holdings in shares of TechnipFMC by 6.8% during the fourth quarter. Fulton Bank N.A. now owns 10,750 shares of the oil and gas company’s stock worth $217,000 after purchasing an additional 683 shares during the period. Janney Capital Management LLC grew its stake in shares of TechnipFMC by 2.8% in the third quarter. Janney Capital Management LLC now owns 26,849 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 722 shares during the last quarter. Finally, Dfpg Investments LLC increased its holdings in TechnipFMC by 2.4% during the 4th quarter. Dfpg Investments LLC now owns 31,360 shares of the oil and gas company’s stock valued at $623,000 after purchasing an additional 738 shares during the period. Institutional investors own 96.58% of the company’s stock.

Insider Activity at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.20, for a total transaction of $264,809.20. Following the completion of the sale, the director now directly owns 103,982 shares in the company, valued at $2,204,418.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.06% of the stock is owned by insiders.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Monday, May 20th. TechnipFMC’s dividend payout ratio is currently 42.55%.

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.