Griffin Securities Research Analysts Increase Earnings Estimates for TechnipFMC plc (NYSE:FTI)

TechnipFMC plc (NYSE:FTI - Free Report) - Griffin Securities upped their FY2024 EPS estimates for TechnipFMC in a report released on Monday, April 29th. Griffin Securities analyst K. Simpson now forecasts that the oil and gas company will earn $1.20 per share for the year, up from their prior forecast of $1.15. The consensus estimate for TechnipFMC's current full-year earnings is $1.15 per share. Griffin Securities also issued estimates for TechnipFMC's Q1 2025 earnings at $0.27 EPS, Q2 2025 earnings at $0.50 EPS, Q4 2025 earnings at $0.47 EPS and FY2025 earnings at $1.75 EPS.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. TechnipFMC had a return on equity of 9.60% and a net margin of 2.61%. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.96 billion. The business's revenue for the quarter was up 18.9% compared to the same quarter last year.

FTI has been the topic of a number of other reports. Bank of America lifted their price target on shares of TechnipFMC from $24.00 to $28.50 and gave the company a "buy" rating in a report on Monday, April 15th. Barclays increased their price target on TechnipFMC from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Monday. Benchmark reaffirmed a "buy" rating and issued a $30.00 price objective on shares of TechnipFMC in a research note on Friday. TD Cowen increased their target price on TechnipFMC from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Friday. Finally, StockNews.com upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research report on Sunday. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $26.14.

TechnipFMC Price Performance

Shares of FTI stock traded down $0.98 during mid-day trading on Tuesday, hitting $25.62. The company had a trading volume of 4,243,370 shares, compared to its average volume of 4,706,282. The company has a market capitalization of $11.20 billion, a P/E ratio of 54.51 and a beta of 1.65. The stock's 50 day moving average price is $24.35 and its 200-day moving average price is $21.61. TechnipFMC has a 52-week low of $12.64 and a 52-week high of $27.26. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.16 and a quick ratio of 0.87.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be issued a $0.05 dividend. The ex-dividend date is Monday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.78%. TechnipFMC's payout ratio is 42.55%.

Insider Buying and Selling

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

Institutional Trading of TechnipFMC

A number of hedge funds have recently added to or reduced their stakes in FTI. Norden Group LLC increased its holdings in shares of TechnipFMC by 99.9% in the 1st quarter. Norden Group LLC now owns 25,260 shares of the oil and gas company's stock valued at $634,000 after acquiring an additional 12,626 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of TechnipFMC by 43.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,405 shares of the oil and gas company's stock worth $211,000 after purchasing an additional 2,543 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of TechnipFMC by 367.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,549 shares of the oil and gas company's stock valued at $89,000 after purchasing an additional 2,790 shares during the last quarter. Triasima Portfolio Management inc. purchased a new position in TechnipFMC during the 1st quarter worth $205,000. Finally, Yousif Capital Management LLC acquired a new position in TechnipFMC during the 1st quarter valued at about $204,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Company Profile

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.