TechnipFMC (NYSE:FTI) Hits New 52-Week High - Here's Why

Key Points

• TechnipFMC shares reached a new 52-week high of $80.56, trading above both their 50-day and 200-day moving averages.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and three Holds producing a consensus “Moderate Buy” rating, although the average price target of $69.64 is below the current share price.
• The company exceeded quarterly expectations, reporting $0.91 in earnings per share versus $0.80 expected and $2.76 billion in revenue, up 9% year over year. A director also purchased nearly $500,000 of shares, while institutional investors own 96.58% of the stock.

Shares of TechnipFMC plc (NYSE:FTI - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $80.56 and last traded at $80.4070, with a volume of 199544 shares changing hands. The stock had previously closed at $79.67.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FTI. UBS Group set a $80.00 target price on shares of TechnipFMC in a research note on Wednesday, June 3rd. Weiss Ratings cut shares of TechnipFMC from a "buy (a-)" rating to a "buy (b+)" rating in a report on Thursday, August 27th. Jefferies Financial Group reissued a "buy" rating on shares of TechnipFMC in a research report on Sunday, May 31st. Susquehanna decreased their price objective on shares of TechnipFMC from $90.00 to $85.00 and set a "positive" rating for the company in a research report on Wednesday, July 8th. Finally, Wall Street Zen downgraded shares of TechnipFMC from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, TechnipFMC has a consensus rating of "Moderate Buy" and an average price target of $69.64.

TechnipFMC Price Performance

The stock has a market capitalization of $31.46 billion, a price-to-earnings ratio of 27.79, a P/E/G ratio of 1.57 and a beta of 0.74. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. The stock has a fifty day moving average of $72.84 and a 200-day moving average of $70.30.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. The company had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $0.68 earnings per share. On average, equities research analysts predict that TechnipFMC plc will post 3.15 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.2%. The ex-dividend date was Tuesday, August 18th. TechnipFMC's dividend payout ratio is currently 6.94%.

Insider Activity

In other news, Director Eric D. Mullins acquired 6,365 shares of the company's stock in a transaction on Friday, August 14th. The shares were bought at an average price of $78.55 per share, with a total value of $499,970.75. Following the completion of the acquisition, the director owned 8,070 shares in the company, valued at $633,898.50. This trade represents a 373.31% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of TechnipFMC in the first quarter valued at approximately $26,000. Coppell Advisory Solutions LLC acquired a new position in shares of TechnipFMC in the 2nd quarter valued at $35,000. Ascentis Independent Advisors purchased a new stake in TechnipFMC in the 1st quarter valued at $37,000. Keating Financial Advisory Services Inc. purchased a new stake in TechnipFMC in the 2nd quarter valued at $37,000. Finally, Ameritas Advisory Services LLC acquired a new stake in TechnipFMC during the 2nd quarter worth $44,000. Hedge funds and other institutional investors own 96.58% of the company's stock.

TechnipFMC Company Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company's activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.

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