TechnipFMC plc (NYSE:FTI) Receives $46.92 Consensus Target Price from Analysts

TechnipFMC plc (NYSE:FTI) has received a consensus rating of “Moderate Buy” from the seventeen ratings firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $48.4615.

A number of equities research analysts recently weighed in on the stock. Piper Sandler raised their price target on shares of TechnipFMC from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. TD Cowen upped their price objective on shares of TechnipFMC from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday. BNP Paribas set a $47.00 target price on TechnipFMC and gave the company an “outperform” rating in a research note on Friday, October 10th. Cowen reiterated a “buy” rating on shares of TechnipFMC in a research note on Wednesday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a report on Wednesday, October 8th.

TechnipFMC Stock Performance

Shares of NYSE:FTI opened at $50.06 on Wednesday. The business’s 50-day simple moving average is $45.01 and its 200 day simple moving average is $39.69. The company has a market cap of $20.25 billion, a P/E ratio of 22.35, a PEG ratio of 0.97 and a beta of 0.66. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.13. TechnipFMC has a one year low of $22.11 and a one year high of $50.44.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.10. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.60 billion. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.TechnipFMC’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. On average, sell-side analysts forecast that TechnipFMC will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Tuesday, November 18th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.4%. TechnipFMC’s dividend payout ratio (DPR) is presently 8.93%.

TechnipFMC announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 22nd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy up to 13.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FTI. Blue Trust Inc. increased its position in shares of TechnipFMC by 5,475.0% in the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 657 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in TechnipFMC in the fourth quarter worth about $32,000. Newbridge Financial Services Group Inc. acquired a new position in TechnipFMC in the third quarter worth about $32,000. Geneos Wealth Management Inc. increased its holdings in TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 340 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in TechnipFMC during the second quarter valued at approximately $44,000. 96.58% of the stock is currently owned by institutional investors.

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.