TechnipFMC PLC (FTI) Given Consensus Recommendation of “Hold” by Brokerages
Shares of TechnipFMC PLC (NYSE:FTI) have been given a consensus rating of “Hold” by the twenty-three analysts that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and fifteen have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $35.90.
Several brokerages recently commented on FTI. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Thursday, August 16th. Barclays dropped their price target on TechnipFMC from $35.00 to $33.00 and set a “hold” rating on the stock in a research note on Tuesday, October 30th. Royal Bank of Canada set a $32.00 price target on TechnipFMC and gave the company a “buy” rating in a research note on Friday, October 26th. Credit Suisse Group dropped their price target on TechnipFMC from $38.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, October 29th. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of TechnipFMC in a research note on Monday, October 29th.
Shares of TechnipFMC stock opened at $23.51 on Thursday. The firm has a market cap of $10.77 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 1.62 and a beta of 1.08. TechnipFMC has a 12 month low of $22.39 and a 12 month high of $35.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 1.33.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 5th. Shareholders of record on Tuesday, November 20th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Monday, November 19th. TechnipFMC’s dividend payout ratio is 10.08%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA increased its position in shares of TechnipFMC by 1.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 552,393 shares of the oil and gas company’s stock valued at $17,533,000 after acquiring an additional 7,102 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of TechnipFMC by 16.7% in the second quarter. Daiwa Securities Group Inc. now owns 16,183 shares of the oil and gas company’s stock valued at $514,000 after acquiring an additional 2,311 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of TechnipFMC by 16.1% in the second quarter. Wells Fargo & Company MN now owns 1,606,744 shares of the oil and gas company’s stock valued at $50,999,000 after acquiring an additional 222,806 shares during the last quarter. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of TechnipFMC in the second quarter valued at about $11,588,000. Finally, Heartland Advisors Inc. increased its position in shares of TechnipFMC by 51.2% in the second quarter. Heartland Advisors Inc. now owns 13,873 shares of the oil and gas company’s stock valued at $440,000 after acquiring an additional 4,698 shares during the last quarter. 64.83% of the stock is currently owned by hedge funds and other institutional investors.
TechnipFMC Company Profile
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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