TechnipFMC plc (NYSE:FTI) Stock Now Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analyst sentiment is favorable: TechnipFMC has a “Moderate Buy” consensus from 15 analysts, including 12 buys, two holds and one strong buy. The average 12-month price target is $72.08.
• Recent earnings exceeded expectations: The company reported quarterly EPS of $0.91 versus the $0.80 consensus estimate, while revenue reached $2.76 billion and increased 9% year over year.
• Institutional ownership remains high: Institutional investors own 96.58% of TechnipFMC’s shares, while insiders own 1.40%; recent insider activity included a director’s purchase and a sale conducted under a Rule 10b5-1 plan.

TechnipFMC plc (NYSE:FTI - Get Free Report) has been given an average recommendation of "Moderate Buy" by the fifteen research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $72.08.

A number of equities research analysts have issued reports on the company. Wall Street Zen cut TechnipFMC from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings lowered shares of TechnipFMC from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Friday, October 2nd. Zacks Research raised shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a report on Monday. Citigroup raised their target price on shares of TechnipFMC from $80.00 to $85.00 and gave the company a "buy" rating in a research note on Tuesday, September 15th. Finally, Susquehanna cut their target price on shares of TechnipFMC from $90.00 to $85.00 and set a "positive" rating for the company in a research report on Wednesday, July 8th.

Insider Activity

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

Hedge Funds Weigh In On TechnipFMC

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in TechnipFMC by 6.3% in the 3rd quarter. GAMMA Investing LLC now owns 10,644 shares of the oil and gas company's stock valued at $723,000 after purchasing an additional 628 shares during the period. Apella Capital LLC bought a new position in shares of TechnipFMC during the 3rd quarter worth about $314,000. Plan A Wealth LLC increased its holdings in shares of TechnipFMC by 17.8% during the 3rd quarter. Plan A Wealth LLC now owns 4,530 shares of the oil and gas company's stock worth $308,000 after purchasing an additional 684 shares during the period. Fig Financial Advisory Services Inc. ADV acquired a new position in shares of TechnipFMC during the third quarter valued at about $1,322,000. Finally, QRG Capital Management Inc. lifted its stake in shares of TechnipFMC by 7.8% in the second quarter. QRG Capital Management Inc. now owns 12,253 shares of the oil and gas company's stock valued at $812,000 after buying an additional 890 shares during the period. Institutional investors own 96.58% of the company's stock.

TechnipFMC Price Performance

NYSE FTI opened at $69.61 on Friday. TechnipFMC has a fifty-two week low of $35.29 and a fifty-two week high of $80.70. The stock's 50-day moving average is $73.93 and its two-hundred day moving average is $71.86. The firm has a market cap of $27.30 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 1.10 and a beta of 0.83. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.11. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The firm's revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 EPS. On average, analysts anticipate that TechnipFMC will post 3.2 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th were paid a $0.05 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC's payout ratio is presently 6.94%.

About TechnipFMC

TechnipFMC plc NYSE: FTI is an energy technology company that provides products, systems and services for the development and production of oil and natural gas resources. Its operations are organized primarily across Subsea and Surface Technologies, serving offshore and onshore energy projects throughout the world.

The company's Subsea business designs and supplies integrated solutions for offshore field development, including subsea production systems, subsea controls, flexible pipe, umbilicals, installation services and lifecycle support.

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