TechnipFMC plc (NYSE:FTI) Stock Has Average Target Price of $77.45 According to Analysts

Key Points

• Analysts maintain a bullish outlook: TechnipFMC has a consensus “Buy” rating from 14 analysts, with an average 12-month price target of $77.45 versus the reported share price of $66.82.
• Quarterly results exceeded expectations: The company reported adjusted EPS of $1.05, beating estimates of $0.88, while revenue rose 9.4% year over year to $2.90 billion.
• Institutional ownership is substantial: Institutional investors own 96.58% of TechnipFMC, with BlackRock and several other major firms establishing significant positions during the second quarter.

Shares of TechnipFMC plc (NYSE:FTI - Get Free Report) have been assigned a consensus recommendation of "Buy" from the fourteen ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $77.45.

Several analysts recently commented on the stock. Barclays lifted their target price on shares of TechnipFMC from $86.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday. Weiss Ratings downgraded shares of TechnipFMC from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Friday. Zacks Research upgraded TechnipFMC from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 5th. Wall Street Zen downgraded TechnipFMC from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Citigroup boosted their price target on TechnipFMC from $80.00 to $85.00 and gave the company a "buy" rating in a research note on Tuesday, September 15th.

Insider Transactions at TechnipFMC

In related news, insider Thierry Conti sold 6,000 shares of the company's stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $71.85, for a total value of $431,100.00. Following the transaction, the insider directly owned 85,813 shares in the company, valued at approximately $6,165,664.05. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Mullins purchased 6,365 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the purchase, the director directly owned 8,070 shares of the company's stock, valued at $633,898.50. This represents a 373.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of TechnipFMC in the second quarter worth about $3,081,514,000. Bank of America Corp DE bought a new stake in shares of TechnipFMC during the 2nd quarter valued at approximately $226,069,000. Bank of New York Mellon Corp bought a new stake in shares of TechnipFMC during the 2nd quarter valued at approximately $173,262,000. Danske Bank A S acquired a new position in TechnipFMC during the 2nd quarter worth approximately $163,822,000. Finally, Legal & General Group Plc acquired a new position in TechnipFMC during the 2nd quarter worth approximately $149,673,000. 96.58% of the stock is owned by institutional investors.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $66.82 on Tuesday. The business's 50 day moving average price is $72.11 and its two-hundred day moving average price is $69.07. The company has a market cap of $26.20 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 1.14 and a beta of 0.83. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. TechnipFMC has a twelve month low of $41.06 and a twelve month high of $80.70.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.17. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the prior year, the company earned $0.75 earnings per share. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, analysts predict that TechnipFMC will post 3.23 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Tuesday, November 17th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC's dividend payout ratio (DPR) is currently 6.29%.

About TechnipFMC

TechnipFMC plc NYSE: FTI is an energy technology and services company that designs, manufactures and delivers equipment and integrated solutions for the exploration, development and production of oil and natural gas resources. The company serves energy operators, engineering and construction firms, and other participants across the global energy industry.

TechnipFMC operates through two principal areas: Subsea and Surface Technologies. Its subsea business provides subsea production systems, subsea services, installation solutions and related technologies used to develop offshore fields.

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