TechnipFMC (NYSE:FTI) Hits New 12-Month High After Earnings Beat

Shares of TechnipFMC plc (NYSE:FTI - Get Free Report) hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $37.66 and last traded at $37.45, with a volume of 3153002 shares changing hands. The stock had previously closed at $33.59.

The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.11. The company had revenue of $2.53 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 EPS.

TechnipFMC Dividend Announcement

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

Analyst Ratings Changes

FTI has been the subject of several analyst reports. Wall Street Zen upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday. Sanford C. Bernstein lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price on the stock. in a report on Thursday, May 22nd. Barclays raised their target price on shares of TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a report on Friday. Royal Bank Of Canada raised their target price on shares of TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a report on Friday. Finally, Susquehanna raised their target price on shares of TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a report on Friday. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, TechnipFMC presently has an average rating of "Moderate Buy" and a consensus price target of $38.92.

Institutional Investors Weigh In On TechnipFMC

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in TechnipFMC by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,462,924 shares of the oil and gas company's stock worth $46,360,000 after buying an additional 8,823 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in shares of TechnipFMC in the 1st quarter valued at $205,000. Stephens Investment Management Group LLC boosted its stake in shares of TechnipFMC by 0.8% in the 1st quarter. Stephens Investment Management Group LLC now owns 3,439,595 shares of the oil and gas company's stock valued at $109,001,000 after purchasing an additional 27,884 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of TechnipFMC in the 1st quarter valued at $33,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of TechnipFMC by 346.7% in the 1st quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company's stock valued at $92,000 after purchasing an additional 2,219 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Performance

The stock's 50 day moving average price is $33.36 and its 200 day moving average price is $30.56. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 1.10. The company has a market capitalization of $15.29 billion, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 1.23 and a beta of 1.07.

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.