TechnipFMC (NYSE:FTI) Price Target Raised to $46.00 at Evercore ISI

Key Points

• Evercore ISI has raised its price target for TechnipFMC from $42.00 to $46.00, suggesting a potential upside of 23.67% from the current stock price.
• The consensus rating for the stock is currently a Moderate Buy with an average price target of $38.23, according to MarketBeat.com.
• TechnipFMC recently reported a quarterly earnings per share of $0.68, surpassing analysts' expectations of $0.57 and marking a 9% increase in revenue year-over-year.
• There has been significant institutional interest, with about 96.58% of the company's stock owned by institutional investors and hedge funds.

TechnipFMC (NYSE:FTI - Get Free Report) had its price target hoisted by analysts at Evercore ISI from $42.00 to $46.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the oil and gas company's stock. Evercore ISI's price objective points to a potential upside of 23.67% from the company's current price.

A number of other equities research analysts also recently weighed in on the company. BTIG Research downgraded TechnipFMC from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Sanford C. Bernstein lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a research report on Thursday, May 22nd. Susquehanna lifted their target price on shares of TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a research note on Friday. Wall Street Zen cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Barclays lifted their target price on shares of TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $38.23.

TechnipFMC Stock Down 0.9%

Shares of FTI traded down $0.34 during trading hours on Friday, hitting $37.20. 449,423 shares of the company were exchanged, compared to its average volume of 4,506,714. The company has a market cap of $15.59 billion, a PE ratio of 19.62, a PEG ratio of 1.13 and a beta of 1.07. The firm's 50 day moving average is $33.25 and its 200-day moving average is $30.54. TechnipFMC has a 52 week low of $22.11 and a 52 week high of $38.05. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.07.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.11. TechnipFMC had a return on equity of 27.01% and a net margin of 8.93%. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the company posted $0.43 earnings per share. The company's quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts forecast that TechnipFMC will post 1.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. waypoint wealth counsel bought a new stake in TechnipFMC during the second quarter worth $325,000. Mengis Capital Management Inc. acquired a new position in shares of TechnipFMC in the second quarter valued at $537,000. IFP Advisors Inc increased its holdings in shares of TechnipFMC by 36.4% in the second quarter. IFP Advisors Inc now owns 6,422 shares of the oil and gas company's stock valued at $221,000 after purchasing an additional 1,714 shares during the last quarter. 111 Capital acquired a new position in shares of TechnipFMC in the second quarter valued at $246,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of TechnipFMC by 4.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 126,584 shares of the oil and gas company's stock valued at $4,360,000 after purchasing an additional 5,218 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

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.

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