Susquehanna Has Lowered Expectations for TechnipFMC (NYSE:FTI) Stock Price

TechnipFMC (NYSE:FTI) had its target price lowered by stock analysts at Susquehanna from $90.00 to $85.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price target would indicate a potential upside of 24.56% from the stock’s current price.

Several other equities analysts have also recently commented on FTI. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Royal Bank Of Canada lifted their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. Finally, Citigroup upped their price objective on TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $69.64.

TechnipFMC Trading Up 1.5%

Shares of TechnipFMC stock opened at $68.24 on Wednesday. TechnipFMC has a 1 year low of $31.88 and a 1 year high of $77.78. The company’s fifty day simple moving average is $69.60 and its 200-day simple moving average is $63.74. The company has a market cap of $27.21 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.45 and a beta of 0.70. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. As a group, sell-side analysts expect that TechnipFMC will post 2.98 EPS for the current year.

Institutional Investors Weigh In On TechnipFMC

A number of institutional investors have recently made changes to their positions in the stock. State Street Corp raised its holdings in TechnipFMC by 62.2% during the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after buying an additional 4,938,498 shares during the period. Norges Bank acquired a new position in TechnipFMC during the fourth quarter worth $205,468,000. Invesco Ltd. raised its stake in TechnipFMC by 64.9% in the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock valued at $502,284,000 after buying an additional 4,437,960 shares during the period. AQR Capital Management LLC raised its position in shares of TechnipFMC by 26.7% in the fourth quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock valued at $751,567,000 after purchasing an additional 3,549,839 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in TechnipFMC by 184.0% during the 3rd quarter. Alliancebernstein L.P. now owns 4,802,525 shares of the oil and gas company’s stock worth $189,460,000 after purchasing an additional 3,111,399 shares during the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

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.