Equities analysts forecast that TechnipFMC (NYSE:FTI) will post sales of $3.11 billion for the current fiscal quarter, according to Zacks Investment Research. Twenty Six analysts have issued estimates for TechnipFMC’s earnings, with the highest sales estimate coming in at $3.38 billion and the lowest estimate coming in at $2.59 billion. TechnipFMC reported sales of $3.39 billion during the same quarter last year, which indicates a negative year over year growth rate of 8.3%. The company is scheduled to report its next quarterly earnings results after the market closes on Wednesday, May 9th.
According to Zacks, analysts expect that TechnipFMC will report full-year sales of $12.38 billion for the current year, with estimates ranging from $11.92 billion to $12.82 billion. For the next year, analysts forecast that the company will post sales of $12.63 billion per share, with estimates ranging from $10.63 billion to $14.30 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover TechnipFMC.
TechnipFMC (NYSE:FTI) last released its earnings results on Wednesday, February 21st. The oil and gas company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.24). TechnipFMC had a net margin of 2.14% and a return on equity of 6.05%. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter last year, the firm posted $0.35 EPS. The firm’s quarterly revenue was down 15.9% compared to the same quarter last year.
A number of research analysts recently weighed in on FTI shares. Susquehanna Bancshares set a $39.00 target price on shares of TechnipFMC and gave the company a “buy” rating in a research note on Friday, January 12th. ValuEngine cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Barclays restated a “hold” rating and set a $32.00 target price on shares of TechnipFMC in a research note on Tuesday, February 27th. Royal Bank of Canada set a $36.00 target price on shares of TechnipFMC and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, Goldman Sachs upgraded shares of TechnipFMC from a “neutral” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Wednesday, April 11th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $33.36.
In other TechnipFMC news, Director Richard A. Pattarozzi sold 18,500 shares of TechnipFMC stock in a transaction on Friday, March 9th. The shares were sold at an average price of $30.83, for a total value of $570,355.00. Following the sale, the director now directly owns 80,581 shares in the company, valued at approximately $2,484,312.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Dianne B. Ralston sold 16,650 shares of TechnipFMC stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $29.99, for a total transaction of $499,333.50. Following the completion of the sale, the executive vice president now owns 105,105 shares in the company, valued at $3,152,098.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,150 shares of company stock worth $1,429,809. 0.86% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Great West Life Assurance Co. Can increased its holdings in shares of TechnipFMC by 70.0% in the 3rd quarter. Great West Life Assurance Co. Can now owns 4,329 shares of the oil and gas company’s stock worth $121,000 after buying an additional 1,783 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of TechnipFMC by 153.6% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,949 shares of the oil and gas company’s stock worth $123,000 after buying an additional 2,392 shares during the last quarter. Amalgamated Bank bought a new stake in shares of TechnipFMC in the 4th quarter worth about $215,000. Raymond James & Associates bought a new stake in shares of TechnipFMC in the 4th quarter worth about $221,000. Finally, Mackenzie Financial Corp bought a new stake in shares of TechnipFMC in the 4th quarter worth about $239,000. Institutional investors own 66.71% of the company’s stock.
FTI opened at $32.88 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.22 and a current ratio of 1.32. TechnipFMC has a fifty-two week low of $24.53 and a fifty-two week high of $35.00. The firm has a market cap of $15,551.51, a P/E ratio of 25.49, a PEG ratio of 8.51 and a beta of 0.84.
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 4th. Shareholders of record on Tuesday, March 20th were issued a $0.13 dividend. The ex-dividend date of this dividend was Monday, March 19th. This represents a $0.52 dividend on an annualized basis and a yield of 1.58%. TechnipFMC’s dividend payout ratio is currently 40.31%.
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TechnipFMC plc provides technologies, production systems, services, and solutions for the oil and gas industry worldwide. It operates in three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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