TechnipFMC (NYSE:FTI) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

TechnipFMC (NYSE:FTI) released its earnings results on Thursday. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06, Briefing.com reports. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.96 billion. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. TechnipFMC updated its FY 2024 guidance to EPS.

TechnipFMC Price Performance

Shares of FTI stock remained flat at $26.59 during mid-day trading on Friday. The stock had a trading volume of 3,542,472 shares, compared to its average volume of 4,720,067. TechnipFMC has a 1-year low of $12.64 and a 1-year high of $27.26. The stock has a market capitalization of $11.62 billion, a PE ratio of 221.58 and a beta of 1.65. The company has a current ratio of 1.16, a quick ratio of 0.92 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $24.07 and a 200-day simple moving average of $21.50.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders 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 0.75%. The ex-dividend date of this dividend is Monday, May 20th. TechnipFMC’s dividend payout ratio (DPR) is 166.67%.

Insider Activity at TechnipFMC

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Susquehanna raised their target price on TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a research report on Friday. Benchmark reiterated a “buy” rating and set a $30.00 price objective on shares of TechnipFMC in a research report on Friday. Barclays lifted their price objective on TechnipFMC from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Bank of America lifted their price objective on TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a research report on Monday, April 15th. Finally, StockNews.com downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.07.

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.