Share Buyback Program Initiated by TechnipFMC (NYSE:FTI) Board

Key Points

• TechnipFMC's Board of Directors has initiated a share buyback program, allowing for the repurchase of up to $2.00 billion, representing 13.3% of its outstanding shares.
• The company recently reported a quarterly EPS of $0.68, exceeding analysts' expectations and showing a 9.0% year-over-year revenue growth.
• Analysts are optimistic about TechnipFMC, with a consensus rating of "Buy" and an average price target of $41.93, indicating potential for future stock appreciation.

TechnipFMC (NYSE:FTI - Get Free Report) declared that its Board of Directors has initiated a share repurchase program on Wednesday, October 22nd, RTT News reports. The company plans to buyback $2.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 13.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

TechnipFMC Price Performance

Shares of NYSE FTI traded up $1.12 during trading on Wednesday, hitting $37.59. 5,845,515 shares of the company were exchanged, compared to its average volume of 4,039,423. The company has a market cap of $15.45 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.07 and a beta of 1.04. TechnipFMC has a 1 year low of $22.11 and a 1 year high of $41.29. The firm's fifty day moving average price is $37.75 and its 200 day moving average price is $33.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 0.86.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its earnings results on Thursday, July 24th. The oil and gas company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.57 by $0.11. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The business's revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.43 EPS. TechnipFMC has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that TechnipFMC will post 1.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FTI has been the topic of a number of research reports. Susquehanna raised their target price on shares of TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Piper Sandler set a $48.00 target price on shares of TechnipFMC and gave the stock an "overweight" rating in a research report on Tuesday, October 14th. Weiss Ratings restated a "buy (b)" rating on shares of TechnipFMC in a research report on Wednesday, October 8th. BNP Paribas Exane raised TechnipFMC from a "neutral" rating to an "outperform" rating and set a $47.00 price target for the company in a report on Friday, October 10th. Finally, Barclays increased their price target on TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $41.93.

Insider Activity at TechnipFMC

In other TechnipFMC news, CEO Douglas J. Pferdehirt sold 80,304 shares of the business's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $38.35, for a total transaction of $3,079,658.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thierry Conti sold 50,000 shares of TechnipFMC stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $38.64, for a total value of $1,932,000.00. Following the transaction, the insider directly owned 56,352 shares of the company's stock, valued at $2,177,441.28. This trade represents a 47.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 885,984 shares of company stock valued at $34,180,811 over the last 90 days. Company insiders own 1.80% 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.

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