Jefferies Financial Group Weighs in on TechnipFMC plc’s Q2 2023 Earnings (NYSE:FTI)

TechnipFMC plc (NYSE:FTI – Get Rating) – Investment analysts at Jefferies Financial Group decreased their Q2 2023 earnings per share estimates for shares of TechnipFMC in a research note issued to investors on Wednesday, March 15th. Jefferies Financial Group analyst M. Wilson now anticipates that the oil and gas company will post earnings of $0.09 per share for the quarter, down from their previous estimate of $0.12. The consensus estimate for TechnipFMC’s current full-year earnings is $0.50 per share. Jefferies Financial Group also issued estimates for TechnipFMC’s FY2023 earnings at $0.38 EPS, Q1 2024 earnings at $0.20 EPS, Q2 2024 earnings at $0.26 EPS and Q3 2024 earnings at $0.28 EPS.

A number of other research analysts have also recently commented on FTI. StockNews.com began coverage on TechnipFMC in a research note on Thursday. They set a “hold” rating on the stock. Citigroup increased their price objective on TechnipFMC from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, February 28th. Cowen increased their price objective on TechnipFMC from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, February 24th. Barclays increased their target price on TechnipFMC from $14.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, February 27th. Finally, BTIG Research increased their target price on TechnipFMC from $15.00 to $18.00 and gave the company a “buy” rating in a report on Friday, February 24th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.45.

TechnipFMC Stock Down 2.5 %

NYSE:FTI opened at $12.35 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.95 and a current ratio of 1.20. The stock’s fifty day moving average is $13.76 and its two-hundred day moving average is $11.72. TechnipFMC has a 52 week low of $5.47 and a 52 week high of $16.03.

TechnipFMC (NYSE:FTI – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The oil and gas company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.08). TechnipFMC had a negative net margin of 1.60% and a negative return on equity of 0.38%. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the company posted ($0.12) earnings per share. The company’s revenue was up 11.2% on a year-over-year basis.

Institutional Trading of TechnipFMC

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC grew its stake in shares of TechnipFMC by 88.5% during the 4th quarter. Signaturefd LLC now owns 2,964 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 1,392 shares during the period. Wipfli Financial Advisors LLC acquired a new position in shares of TechnipFMC during the 3rd quarter valued at $37,000. Stephens Inc. AR acquired a new position in shares of TechnipFMC during the 4th quarter valued at $54,000. Allworth Financial LP lifted its holdings in shares of TechnipFMC by 35.7% during the 3rd quarter. Allworth Financial LP now owns 4,987 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 1,313 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of TechnipFMC by 199.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,612 shares of the oil and gas company’s stock valued at $56,000 after acquiring an additional 4,404 shares in the last quarter. 94.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 22,208 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $15.10, for a total transaction of $335,340.80. Following the completion of the transaction, the director now directly owns 107,092 shares of the company’s stock, valued at approximately $1,617,089.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.54% of the company’s stock.

TechnipFMC Company Profile

(Get Rating)

TechnipFMC plc is an energy service company, which engages in the provision of solutions for the production and transformation of hydrocarbons. It operates through the following segments: Subsea and Surface Technologies. The Subsea segment engages in designs and manufactures products and systems, performs engineering, procurement and project management, and provides services used by oil and gas companies involved in offshore exploration and production of crude oil and natural gas.