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TechnipFMC (NYSE:FTI) Trading Down 3.9% Following Analyst Downgrade

Thursday, June 23, 2022 | MarketBeat

TechnipFMC plc (NYSE:FTI - Get Rating) shares dropped 3.9% during trading on Thursday after Cowen lowered their price target on the stock from $15.00 to $14.00. Cowen currently has an outperform rating on the stock. TechnipFMC traded as low as $6.41 and last traded at $6.42. Approximately 93,218 shares were traded during trading, a decline of 99% from the average daily volume of 8,541,320 shares. The stock had previously closed at $6.68.

Other equities analysts have also issued research reports about the company. StockNews.com initiated coverage on TechnipFMC in a research note on Thursday, March 31st. They set a "hold" rating on the stock. Cowen dropped their price objective on TechnipFMC from $15.00 to $14.00 in a report on Thursday. Societe Generale upgraded TechnipFMC from a "hold" rating to a "buy" rating and increased their price objective for the company from $7.57 to $10.00 in a report on Tuesday, April 19th. Finally, Kepler Capital Markets upgraded TechnipFMC from a "hold" rating to a "buy" rating and set a $10.00 price target on the stock in a research note on Monday, February 28th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $11.29.


A number of hedge funds have recently bought and sold shares of the business. Verition Fund Management LLC lifted its stake in shares of TechnipFMC by 47.3% during the first quarter. Verition Fund Management LLC now owns 112,399 shares of the oil and gas company's stock worth $871,000 after purchasing an additional 36,117 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in TechnipFMC by 23,053.6% in the first quarter. BNP Paribas Arbitrage SA now owns 1,058,118 shares of the oil and gas company's stock valued at $8,200,000 after buying an additional 1,053,548 shares during the last quarter. Keeley Teton Advisors LLC increased its holdings in TechnipFMC by 473.0% in the first quarter. Keeley Teton Advisors LLC now owns 722,044 shares of the oil and gas company's stock valued at $5,596,000 after buying an additional 596,032 shares during the last quarter. Gamco Investors INC. ET AL bought a new stake in TechnipFMC in the first quarter valued at about $357,000. Finally, Weiss Multi Strategy Advisers LLC bought a new position in shares of TechnipFMC during the first quarter valued at approximately $1,191,000. 88.53% of the stock is owned by hedge funds and other institutional investors.

The company has a market capitalization of $2.90 billion, a P/E ratio of -7.26 and a beta of 1.88. The company has a fifty day moving average price of $7.72 and a 200 day moving average price of $7.17. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.43 and a quick ratio of 1.13.

TechnipFMC (NYSE:FTI - Get Rating) last released its earnings results on Wednesday, April 27th. The oil and gas company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.02). The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.58 billion. TechnipFMC had a negative return on equity of 3.41% and a negative net margin of 6.58%. During the same quarter last year, the company earned ($0.03) earnings per share. On average, equities research analysts predict that TechnipFMC plc will post 0.13 earnings per share for the current fiscal year.

TechnipFMC Company Profile (NYSE:FTI)

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. 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.

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