TechnipFMC (NYSE:FTI) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Friday.
A number of other brokerages also recently issued reports on FTI. Cowen reissued a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a report on Friday, October 12th. Societe Generale upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Wednesday, October 10th. Royal Bank of Canada set a $32.00 price objective on shares of TechnipFMC and gave the stock a “buy” rating in a research report on Friday, October 26th. BMO Capital Markets upped their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “market perform” rating in a research report on Monday, July 30th. Finally, Barclays upped their price objective on shares of TechnipFMC from $32.00 to $35.00 and gave the stock a “hold” rating in a research report on Thursday, August 2nd. Four analysts have rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $36.21.
Shares of TechnipFMC stock opened at $26.50 on Friday. TechnipFMC has a 12-month low of $25.36 and a 12-month high of $35.00. The stock has a market capitalization of $12.36 billion, a PE ratio of 24.77, a PEG ratio of 2.01 and a beta of 1.08. The company has a current ratio of 1.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31.
TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Wednesday, October 24th. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.07). TechnipFMC had a return on equity of 3.76% and a net margin of 1.42%. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.22 billion. On average, analysts anticipate that TechnipFMC will post 1.32 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN grew its position in TechnipFMC by 4.3% during the third quarter. Wells Fargo & Company MN now owns 1,676,372 shares of the oil and gas company’s stock valued at $52,387,000 after acquiring an additional 69,628 shares during the last quarter. Nippon Life Global Investors Americas Inc. bought a new position in TechnipFMC during the third quarter valued at approximately $960,000. Robeco Institutional Asset Management B.V. grew its position in TechnipFMC by 166.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 123,163 shares of the oil and gas company’s stock valued at $3,849,000 after acquiring an additional 76,918 shares during the last quarter. Perpetual Ltd grew its position in TechnipFMC by 78.9% during the third quarter. Perpetual Ltd now owns 626,060 shares of the oil and gas company’s stock valued at $19,564,000 after acquiring an additional 276,060 shares during the last quarter. Finally, TCW Group Inc. grew its position in TechnipFMC by 2.2% during the third quarter. TCW Group Inc. now owns 2,343,496 shares of the oil and gas company’s stock valued at $73,234,000 after acquiring an additional 50,574 shares during the last quarter. Institutional investors and hedge funds own 64.61% of the company’s stock.
TechnipFMC Company Profile
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through 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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