HSBC Holdings PLC Reaffirms “Reduce” Rating for FMC Technologies, Inc. (FTI)
HSBC Holdings PLC reissued their reduce rating on shares of FMC Technologies, Inc. (NYSE:FTI) in a research report released on Wednesday morning, Marketbeat reports. The brokerage currently has a $26.00 price objective on the oil and gas company’s stock.
A number of other equities analysts also recently weighed in on FTI. BidaskClub downgraded shares of FMC Technologies from a sell rating to a strong sell rating in a research note on Tuesday, August 8th. Citigroup Inc. raised shares of FMC Technologies from a neutral rating to a buy rating and increased their price target for the stock from $26.00 to $30.00 in a research note on Monday, October 2nd. The Goldman Sachs Group, Inc. downgraded shares of FMC Technologies from a buy rating to a neutral rating and set a $30.00 price target on the stock. in a research note on Monday, November 13th. UBS AG reaffirmed a buy rating and set a $36.00 price target (down previously from $40.00) on shares of FMC Technologies in a research note on Monday, July 31st. Finally, Piper Jaffray Companies reaffirmed a buy rating and set a $31.50 price target on shares of FMC Technologies in a research note on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $33.83.
Shares of FMC Technologies (NYSE:FTI) traded up $0.08 on Wednesday, hitting $26.62. 2,340,000 shares of the company traded hands, compared to its average volume of 3,750,000. The company has a quick ratio of 1.14, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $12,380.00 and a P/E ratio of 21.73. FMC Technologies has a fifty-two week low of $24.53 and a fifty-two week high of $36.14.
FMC Technologies (NYSE:FTI) last announced its quarterly earnings data on Wednesday, October 25th. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.07). The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.87 billion. The business’s revenue for the quarter was up 74.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 earnings per share. equities research analysts expect that FMC Technologies will post 1.61 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 21st will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.95%. The ex-dividend date is Monday, November 20th.
A number of hedge funds have recently made changes to their positions in FTI. First Eagle Investment Management LLC grew its holdings in FMC Technologies by 53.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 30,585,688 shares of the oil and gas company’s stock worth $831,931,000 after acquiring an additional 10,617,891 shares in the last quarter. Janus Henderson Group PLC grew its holdings in FMC Technologies by 19,636.0% during the 2nd quarter. Janus Henderson Group PLC now owns 3,496,027 shares of the oil and gas company’s stock worth $95,090,000 after acquiring an additional 3,478,313 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in FMC Technologies by 90.3% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 3,638,820 shares of the oil and gas company’s stock worth $98,976,000 after acquiring an additional 1,726,320 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in FMC Technologies during the 3rd quarter worth $45,311,000. Finally, Platinum Investment Management Ltd. grew its holdings in FMC Technologies by 29.6% during the 2nd quarter. Platinum Investment Management Ltd. now owns 7,016,100 shares of the oil and gas company’s stock worth $190,837,000 after acquiring an additional 1,604,400 shares in the last quarter. 66.88% of the stock is owned by institutional investors.
About FMC Technologies
FMC Technologies, Inc is a global provider of technology solutions for the energy industry. The Company designs, manufactures and services a range of systems and products, including subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems.
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