Royal Bank Of Canada Increases TechnipFMC (NYSE:FTI) Price Target to $40.00

Key Points

• TechnipFMC's price target has been raised by the Royal Bank of Canada from $37.00 to $40.00, indicating a potential upside of 7.35% from its current price.
• The company has a consensus rating of "Moderate Buy" and various brokerages have differing target prices, with Susquehanna setting it as high as $45.00.
• TechnipFMC recently reported $2.53 billion in revenue for the quarter, beating analyst estimates and showing a 9.0% year-over-year increase in revenue.
• Hedge funds increasingly hold stakes in TechnipFMC, with institutional investors owning 96.58% of the company's stock.

TechnipFMC (NYSE:FTI - Free Report) had its price target raised by Royal Bank Of Canada from $37.00 to $40.00 in a report issued on Friday,Benzinga reports. They currently have an outperform rating on the oil and gas company's stock.

FTI has been the subject of several other reports. BTIG Research downgraded TechnipFMC from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Susquehanna lifted their target price on TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a research report on Friday. Barclays upped their price target on TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Citigroup reiterated a "buy" rating and set a $41.00 price objective (up from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. Finally, Wall Street Zen cut TechnipFMC from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $38.92.

TechnipFMC Stock Down 2.8%

NYSE FTI traded down $1.07 during trading on Friday, hitting $36.48. The stock had a trading volume of 5,815,883 shares, compared to its average volume of 4,568,431. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 1.10. TechnipFMC has a 12 month low of $22.11 and a 12 month high of $38.05. The company's 50-day moving average price is $33.36 and its two-hundred day moving average price is $30.56. The company has a market capitalization of $15.29 billion, a PE ratio of 17.21, a P/E/G ratio of 1.23 and a beta of 1.07.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.11. The business 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%. TechnipFMC's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 EPS. As a group, sell-side analysts forecast that TechnipFMC will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Tuesday, August 19th. TechnipFMC's payout ratio is 9.43%.

Hedge Funds Weigh In On TechnipFMC

A number of institutional investors and hedge funds have recently modified their holdings of the company. New York State Teachers Retirement System bought a new stake in shares of TechnipFMC in the first quarter worth about $33,000. Geneos Wealth Management Inc. increased its position in shares of TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock valued at $35,000 after acquiring an additional 340 shares during the period. Financial Network Wealth Advisors LLC grew its position in shares of TechnipFMC by 29.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company's stock valued at $48,000 after acquiring an additional 346 shares during the period. Westpac Banking Corp acquired a new stake in shares of TechnipFMC in the fourth quarter valued at approximately $55,000. Finally, Brooklyn Investment Group grew its position in TechnipFMC by 2,216.1% in the first quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company's stock worth $68,000 after acquiring an additional 2,061 shares during the period. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

About TechnipFMC

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.