Bernstein Bank lowered shares of TechnipFMC (NYSE:FTI) to an underperform rating in a report published on Tuesday morning, Stock Target Advisor reports.
A number of other brokerages also recently issued reports on FTI. Berenberg Bank downgraded shares of TechnipFMC from a buy rating to a hold rating and lowered their price target for the stock from $29.00 to $22.50 in a report on Friday, November 22nd. Morgan Stanley lowered their target price on shares of TechnipFMC from $34.00 to $33.00 and set an overweight rating on the stock in a research note on Friday, October 11th. Citigroup raised shares of TechnipFMC from a neutral rating to a buy rating and set a $23.60 target price on the stock in a research note on Wednesday, December 11th. Barclays reaffirmed a hold rating on shares of TechnipFMC in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group downgraded shares of TechnipFMC from a buy rating to a hold rating and lowered their target price for the company from $33.00 to $21.00 in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $28.12.
Shares of TechnipFMC stock traded down $0.29 on Tuesday, reaching $19.79. The stock had a trading volume of 3,819,979 shares, compared to its average volume of 3,581,624. TechnipFMC has a 1 year low of $18.42 and a 1 year high of $28.57. The company has a market cap of $9.40 billion, a P/E ratio of 24.13, a price-to-earnings-growth ratio of 1.05 and a beta of 1.47. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $20.32 and its two-hundred day moving average is $22.82.
TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). TechnipFMC had a positive return on equity of 2.11% and a negative net margin of 16.30%. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the previous year, the company posted $1.09 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that TechnipFMC will post 1.17 EPS for the current fiscal year.
In other TechnipFMC news, CFO Maryann T. Mannen sold 14,500 shares of TechnipFMC stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $20.84, for a total transaction of $302,180.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Olivier Piou purchased 3,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were acquired at an average cost of $19.49 per share, for a total transaction of $58,470.00. Following the completion of the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $58,470. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Private Capital Group LLC raised its stake in shares of TechnipFMC by 375.0% during the second quarter. Private Capital Group LLC now owns 1,121 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 885 shares in the last quarter. Liberty Wealth Management LLC purchased a new position in shares of TechnipFMC during the third quarter worth approximately $37,000. Signaturefd LLC raised its stake in shares of TechnipFMC by 22.1% during the third quarter. Signaturefd LLC now owns 2,650 shares of the oil and gas company’s stock worth $64,000 after acquiring an additional 480 shares in the last quarter. Boston Partners purchased a new position in shares of TechnipFMC during the second quarter worth approximately $157,000. Finally, First Mercantile Trust Co. raised its stake in shares of TechnipFMC by 13.4% during the third quarter. First Mercantile Trust Co. now owns 6,998 shares of the oil and gas company’s stock worth $169,000 after acquiring an additional 825 shares in the last quarter. 79.86% of the stock is currently owned by hedge funds and other institutional investors.
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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