TechnipFMC (NYSE:FTI) was upgraded by research analysts at ValuEngine from a "hold" rating to a "buy" rating in a research note issued to investors on Thursday, ValuEngine reports.
A number of other equities research analysts also recently commented on the company. Barclays decreased their target price on TechnipFMC from $10.00 to $9.00 and set an "overweight" rating on the stock in a research report on Monday, April 27th. Tudor Pickering raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a report on Wednesday. Berenberg Bank decreased their price objective on TechnipFMC from $12.50 to $11.50 and set a "buy" rating on the stock in a research report on Friday, April 24th. Cfra cut their target price on TechnipFMC from $16.00 to $8.50 and set a "hold" rating on the stock in a research report on Thursday, April 23rd. Finally, Piper Sandler lowered shares of TechnipFMC from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $31.00 to $8.00 in a research note on Friday, March 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company's stock. The company has an average rating of "Buy" and an average target price of $16.39.
TechnipFMC stock opened at $6.91 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.01 and a debt-to-equity ratio of 1.09. TechnipFMC has a 12-month low of $4.49 and a 12-month high of $28.57. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of -0.56, a P/E/G ratio of 1.06 and a beta of 1.91. The firm has a 50 day moving average of $7.76 and a 200 day moving average of $12.38.
TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.11) EPS for the quarter, missing the Zacks' consensus estimate of $0.22 by ($0.33). TechnipFMC had a negative net margin of 40.74% and a positive return on equity of 2.41%. The business had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the prior year, the business earned $0.06 earnings per share. TechnipFMC's revenue was up 7.5% compared to the same quarter last year. On average, analysts predict that TechnipFMC will post 0.29 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in shares of TechnipFMC by 6.0% during the first quarter. State Street Corp now owns 22,639,204 shares of the oil and gas company's stock worth $155,357,000 after buying an additional 1,288,861 shares during the period. Public Employees Retirement Association of Colorado raised its stake in shares of TechnipFMC by 3.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 56,937 shares of the oil and gas company's stock worth $384,000 after purchasing an additional 2,132 shares during the last quarter. Morgan Stanley lifted its holdings in shares of TechnipFMC by 308.4% during the first quarter. Morgan Stanley now owns 2,070,779 shares of the oil and gas company's stock worth $13,956,000 after purchasing an additional 1,563,756 shares during the period. Verus Capital Partners LLC increased its holdings in TechnipFMC by 514.4% in the 1st quarter. Verus Capital Partners LLC now owns 4,743 shares of the oil and gas company's stock worth $32,000 after buying an additional 3,971 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in TechnipFMC by 10.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 609,821 shares of the oil and gas company's stock valued at $4,110,000 after acquiring an additional 59,929 shares during the period. Institutional investors own 77.79% of the company's stock.
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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