Shares of TechnipFMC PLC (NYSE:FTI) reached a new 52-week low on Thursday . The stock traded as low as $21.43 and last traded at $21.59, with a volume of 6879392 shares trading hands. The stock had previously closed at $23.51.
Several analysts have recently weighed in on the stock. ValuEngine lowered shares of TechnipFMC from a “hold” rating to a “sell” rating in a research note on Thursday. Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Thursday, August 16th. Barclays lowered their price objective on shares of TechnipFMC from $35.00 to $33.00 and set a “hold” rating for the company in a research note on Tuesday, October 30th. Royal Bank of Canada set a $32.00 price objective on shares of TechnipFMC and gave the company a “buy” rating in a research note on Friday, October 26th. Finally, Credit Suisse Group lowered their price objective on shares of TechnipFMC from $38.00 to $29.00 and set a “buy” rating for the company in a research note on Monday, October 29th. Four analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company’s stock. TechnipFMC has a consensus rating of “Hold” and an average target price of $36.24.
The company has a market cap of $10.97 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 1.56 and a beta of 1.08. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31.
TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.07). The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.22 billion. TechnipFMC had a net margin of 1.42% and a return on equity of 3.76%. On average, equities analysts expect that TechnipFMC PLC will post 1.31 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 5th. Shareholders of record on Tuesday, November 20th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, November 19th. This represents a $0.52 dividend on an annualized basis and a yield of 2.40%. TechnipFMC’s dividend payout ratio (DPR) is presently 10.08%.
A number of hedge funds have recently made changes to their positions in FTI. Pinebridge Investments L.P. increased its stake in TechnipFMC by 270.1% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,775 shares of the oil and gas company’s stock valued at $120,000 after purchasing an additional 2,755 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in TechnipFMC during the 2nd quarter valued at $143,000. Dai Ichi Life Insurance Company Ltd bought a new stake in TechnipFMC during the 2nd quarter valued at $210,000. Putnam Investments LLC bought a new stake in TechnipFMC during the 2nd quarter valued at $210,000. Finally, Chicago Equity Partners LLC bought a new stake in TechnipFMC during the 2nd quarter valued at $239,000. Institutional investors and hedge funds own 64.83% of the company’s stock.
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TechnipFMC Company Profile (NYSE:FTI)
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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