TechnipFMC plc (NYSE:FTI) Given Consensus Recommendation of “Moderate Buy” by Brokerages (2024)

Posted by ABMN Staff on May 17th, 2024

TechnipFMC plc (NYSE:FTI – Get Free Report) has been assigned an average rating of “Moderate Buy” from the fourteen research firms that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $27.21.

A number of equities research analysts have weighed in on the company. TD Cowen raised their price target on TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Piper Sandler boosted their target price on TechnipFMC from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Susquehanna increased their price target on shares of TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a research report on Friday, April 26th. Benchmark reaffirmed a “buy” rating and issued a $30.00 price objective on shares of TechnipFMC in a research note on Friday, April 26th. Finally, Bank of America increased their target price on shares of TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a report on Monday, April 15th.

View Our Latest Report on TechnipFMC

Insider Activity at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.20, for a total transaction of $264,809.20. Following the sale, the director now owns 103,982 shares of the company’s stock, valued at approximately $2,204,418.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TechnipFMC

Hedge funds have recently made changes to their positions in the company. Parkside Financial Bank & Trust purchased a new position in TechnipFMC during the third quarter valued at $29,000. Whittier Trust Co. bought a new stake in TechnipFMC during the first quarter worth about $29,000. Johnson Financial Group Inc. purchased a new stake in TechnipFMC in the fourth quarter worth about $33,000. Quarry LP increased its stake in shares of TechnipFMC by 76.6% during the fourth quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 768 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of TechnipFMC during the fourth quarter valued at approximately $45,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Down 0.4 %

FTI stock opened at $26.48 on Friday. The company’s 50 day moving average is $25.58 and its 200 day moving average is $22.10. The stock has a market cap of $11.41 billion, a price-to-earnings ratio of 56.33 and a beta of 1.61. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.31. TechnipFMC has a 1-year low of $13.11 and a 1-year high of $27.30.

TechnipFMC (NYSE:FTI – Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.96 billion. The company’s revenue was up 18.9% compared to the same quarter last year. Sell-side analysts predict that TechnipFMC will post 1.18 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.76%. TechnipFMC’s dividend payout ratio (DPR) is presently 42.55%.

About TechnipFMC

(Get Free Report

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.