TechnipFMC (NYSE:FTI) Posts Earnings Results

TechnipFMC (NYSE:FTI - Get Free Report) released its quarterly earnings results on Thursday. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06, Briefing.com reports. TechnipFMC had a net margin of 0.72% and a return on equity of 6.37%. The business had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $1.96 billion. The company's revenue for the quarter was up 18.9% on a year-over-year basis. TechnipFMC updated its FY 2024 guidance to EPS.

TechnipFMC Stock Performance

FTI remained flat at $26.59 during trading on Friday. The company's stock had a trading volume of 3,542,472 shares, compared to its average volume of 4,720,067. The firm has a market cap of $11.62 billion, a PE ratio of 221.58 and a beta of 1.65. The business's 50-day moving average is $24.21 and its 200 day moving average is $21.54. TechnipFMC has a 1-year low of $12.64 and a 1-year high of $27.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.16 and a quick ratio of 0.92.

TechnipFMC Announces Dividend

The firm 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 annualized dividend and a yield of 0.75%. TechnipFMC's dividend payout ratio (DPR) is presently 166.67%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FTI shares. Bank of America lifted their target price on shares of TechnipFMC from $24.00 to $28.50 and gave the company a "buy" rating in a research note on Monday, April 15th. Benchmark reiterated a "buy" rating and set a $30.00 target price on shares of TechnipFMC in a report on Friday. StockNews.com cut TechnipFMC from a "buy" rating to a "hold" rating in a research note on Saturday, April 20th. TD Cowen lifted their price target on TechnipFMC from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Friday. Finally, Barclays increased their price objective on TechnipFMC from $32.00 to $33.00 and gave the stock an "overweight" rating in a report on Tuesday, February 27th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $26.07.

Insider Transactions at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the company's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.20, for a total transaction of $264,809.20. Following the transaction, the director now owns 103,982 shares in the company, valued at approximately $2,204,418.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.06% of the company's stock.

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.