TechnipFMC plc (NYSE:FTI) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is positive: Sixteen brokerages give TechnipFMC a consensus “Moderate Buy” rating, with 12 buys, three holds and one strong buy. The average 12-month price target is $69.64.
• Quarterly results exceeded expectations: TechnipFMC reported earnings of $0.91 per share versus the $0.80 consensus estimate, while revenue rose 9% year over year to $2.76 billion.
• Shares and ownership activity remain notable: FTI opened at $77.07, near its 12-month high of $80.55, while a company director purchased nearly $500,000 in shares. Institutional investors own 96.58% of the stock, and the company maintains a quarterly dividend of $0.05 per share.

TechnipFMC plc (NYSE:FTI - Get Free Report) has earned an average recommendation of "Moderate Buy" from the sixteen brokerages that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $69.6429.

A number of research analysts have commented on FTI shares. Susquehanna decreased their price objective on TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a report on Wednesday, July 8th. Citigroup lifted their target price on TechnipFMC from $76.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, June 18th. Royal Bank Of Canada boosted their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the company an "outperform" rating in a research report on Friday, May 1st. UBS Group set a $80.00 price target on shares of TechnipFMC in a research note on Wednesday, June 3rd. Finally, Zacks Research lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th.

TechnipFMC Trading Down 1.6%

Shares of NYSE:FTI opened at $77.07 on Thursday. TechnipFMC has a 12-month low of $34.27 and a 12-month high of $80.55. The business has a 50 day moving average of $70.86 and a 200-day moving average of $68.99. 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 market cap of $30.23 billion, a PE ratio of 26.76, a P/E/G ratio of 1.61 and a beta of 0.72.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results 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 analyst estimates of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The firm's quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 earnings per share. As a group, equities research analysts forecast that TechnipFMC will post 3.08 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC's payout ratio is currently 6.94%.

Insider Activity

In other TechnipFMC news, Director Eric D. Mullins bought 6,365 shares of the stock in a transaction dated Friday, August 14th. The shares were bought at an average cost 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 of the company's stock, valued at $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TechnipFMC

Several institutional investors have recently made changes to their positions in FTI. Focus Partners Advisor Solutions LLC acquired a new stake in TechnipFMC during the second quarter worth about $3,470,000. Chase Investment Counsel Corp acquired a new position in shares of TechnipFMC in the 2nd quarter valued at approximately $12,397,000. Asset Management One Co. Ltd. acquired a new position in shares of TechnipFMC in the 4th quarter valued at approximately $833,000. Oppenheimer Asset Management Inc. bought a new stake in shares of TechnipFMC during the 2nd quarter worth approximately $8,407,000. Finally, Fisher Asset Management LLC lifted its holdings in shares of TechnipFMC by 7.1% during the 4th quarter. Fisher Asset Management LLC now owns 408,437 shares of the oil and gas company's stock worth $18,200,000 after acquiring an additional 27,111 shares during the period. 96.58% of the stock is currently owned by institutional investors.

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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