Royal Bank of Canada Reiterates “$34.00” Price Target for TechnipFMC plc Ordinary Share (NYSE:FTI)

Royal Bank of Canada set a $34.00 price objective on TechnipFMC plc Ordinary Share (NYSE:FTI) in a research report report published on Thursday, December 21st. The brokerage currently has a buy rating on the oil and gas company’s stock.

A number of other equities research analysts have also recently commented on FTI. Citigroup upgraded TechnipFMC plc Ordinary Share from a neutral rating to a buy rating and increased their target price for the company from $26.00 to $30.00 in a report on Monday, October 2nd. Piper Jaffray Companies reiterated a buy rating and set a $31.50 target price on shares of TechnipFMC plc Ordinary Share in a report on Tuesday, September 26th. Cowen set a $32.00 target price on TechnipFMC plc Ordinary Share and gave the company a buy rating in a report on Friday, October 6th. Barclays set a $28.00 target price on TechnipFMC plc Ordinary Share and gave the company a hold rating in a report on Thursday, October 26th. Finally, Scotiabank set a $33.00 target price on TechnipFMC plc Ordinary Share and gave the company a buy rating in a report on Wednesday, November 29th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $33.33.

TechnipFMC plc Ordinary Share (NYSE:FTI) opened at $34.80 on Thursday. TechnipFMC plc Ordinary Share has a one year low of $24.53 and a one year high of $36.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.14 and a current ratio of 1.22.

TechnipFMC plc Ordinary Share (NYSE:FTI) last issued its earnings results on Wednesday, October 25th. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.07). The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period last year, the business posted $0.22 earnings per share. The company’s quarterly revenue was up 74.3% on a year-over-year basis. equities research analysts predict that TechnipFMC plc Ordinary Share will post 1.61 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Nova Scotia raised its position in shares of TechnipFMC plc Ordinary Share by 2.8% in the 2nd quarter. Bank of Nova Scotia now owns 11,204 shares of the oil and gas company’s stock worth $305,000 after buying an additional 300 shares during the period. Great West Life Assurance Co. Can raised its position in TechnipFMC plc Ordinary Share by 70.0% in the third quarter. Great West Life Assurance Co. Can now owns 4,329 shares of the oil and gas company’s stock valued at $121,000 after purchasing an additional 1,783 shares during the period. Advisors Asset Management Inc. raised its position in TechnipFMC plc Ordinary Share by 5.4% in the second quarter. Advisors Asset Management Inc. now owns 38,465 shares of the oil and gas company’s stock valued at $1,046,000 after purchasing an additional 1,982 shares during the period. Norinchukin Bank The raised its position in TechnipFMC plc Ordinary Share by 6.8% in the second quarter. Norinchukin Bank The now owns 32,380 shares of the oil and gas company’s stock valued at $881,000 after purchasing an additional 2,060 shares during the period. Finally, Riverhead Capital Management LLC raised its position in TechnipFMC plc Ordinary Share by 12.0% in the second quarter. Riverhead Capital Management LLC now owns 21,423 shares of the oil and gas company’s stock valued at $583,000 after purchasing an additional 2,303 shares during the period. 65.55% of the stock is currently owned by institutional investors and hedge funds.

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About TechnipFMC plc Ordinary Share

FMC Technologies, Inc is a global provider of technology solutions for the energy industry. The Company designs, manufactures and services a range of systems and products, including subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems.

Analyst Recommendations for TechnipFMC plc Ordinary Share (NYSE:FTI)

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