Griffin Securities Brokers Decrease Earnings Estimates for TechnipFMC plc (NYSE:FTI)

TechnipFMC plc (NYSE:FTI - Free Report) - Analysts at Griffin Securities decreased their Q2 2024 earnings estimates for shares of TechnipFMC in a report issued on Monday, April 29th. Griffin Securities analyst K. Simpson now expects that the oil and gas company will post earnings per share of $0.31 for the quarter, down from their previous estimate of $0.34. The consensus estimate for TechnipFMC's current full-year earnings is $1.15 per share. Griffin Securities also issued estimates for TechnipFMC's Q4 2024 earnings at $0.30 EPS.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, beating 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 company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.96 billion. The firm's quarterly revenue was up 18.9% compared to the same quarter last year.

A number of other analysts have also commented on FTI. TD Cowen upped their price objective on shares of TechnipFMC from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Friday, April 26th. Barclays raised their price objective on shares of TechnipFMC from $33.00 to $34.00 and gave the company an "overweight" rating in a research report on Monday. HSBC lowered shares of TechnipFMC from a "buy" rating to a "hold" rating and set a $23.60 price objective on the stock. in a research report on Friday, February 23rd. Benchmark reiterated a "buy" rating and set a $30.00 price target on shares of TechnipFMC in a report on Friday, April 26th. Finally, Bank of America increased their price target on TechnipFMC from $24.00 to $28.50 and gave the company a "buy" rating in a report on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $26.14.

TechnipFMC Trading Down 1.1 %

FTI stock traded down $0.27 during mid-day trading on Wednesday, reaching $25.35. 4,547,329 shares of the stock traded hands, compared to its average volume of 4,704,392. 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 52-week low of $12.64 and a 52-week high of $27.26. The company has a market cap of $10.93 billion, a P/E ratio of 53.96 and a beta of 1.65. The stock's fifty day moving average is $24.46 and its 200-day moving average is $21.65.

Hedge Funds Weigh In On TechnipFMC

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of TechnipFMC by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 39,914,980 shares of the oil and gas company's stock valued at $803,888,000 after purchasing an additional 126,247 shares during the period. Invesco Ltd. raised its stake in shares of TechnipFMC by 75.7% during the 3rd quarter. Invesco Ltd. now owns 12,969,978 shares of the oil and gas company's stock worth $263,809,000 after purchasing an additional 5,587,050 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of TechnipFMC by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,214,539 shares of the oil and gas company's stock worth $207,764,000 after purchasing an additional 593,828 shares in the last quarter. American Century Companies Inc. raised its stake in shares of TechnipFMC by 161.9% during the 3rd quarter. American Century Companies Inc. now owns 5,312,079 shares of the oil and gas company's stock worth $108,048,000 after purchasing an additional 3,283,972 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its stake in shares of TechnipFMC by 68.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 4,000,978 shares of the oil and gas company's stock worth $81,380,000 after purchasing an additional 1,629,170 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the business's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $21.20, for a total transaction of $264,809.20. Following the completion of the transaction, the director now directly owns 103,982 shares in the company, valued at approximately $2,204,418.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.93% of the company's stock.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be given a $0.05 dividend. The ex-dividend date is Monday, May 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.79%. TechnipFMC's payout ratio is 42.55%.

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.