TechnipFMC (NYSE:FTI) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

TechnipFMC (NYSE:FTI) issued its quarterly earnings data on Thursday. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06, Briefing.com reports. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.96 billion. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. TechnipFMC updated its FY 2024 guidance to EPS.

TechnipFMC Stock Performance

Shares of FTI remained flat at $26.59 during midday trading on Friday. The stock had a trading volume of 3,542,472 shares, compared to its average volume of 4,720,067. TechnipFMC has a fifty-two week low of $12.64 and a fifty-two week high of $27.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.16 and a quick ratio of 0.92. The firm has a 50 day moving average price of $24.07 and a 200 day moving average price of $21.50. The company has a market capitalization of $11.62 billion, a P/E ratio of 221.58 and a beta of 1.65.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Monday, May 20th. TechnipFMC’s payout ratio is 166.67%.

Insider Transactions at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total transaction of $264,809.20. Following the transaction, the director now owns 103,982 shares of the company’s stock, valued at approximately $2,204,418.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $30.00 price objective on shares of TechnipFMC in a report on Friday. Barclays boosted their target price on TechnipFMC from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Susquehanna boosted their target price on TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a research report on Friday. HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 target price on the stock. in a research report on Friday, February 23rd. Finally, Bank of America boosted their target price on TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a research report on Monday, April 15th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.07.

About TechnipFMC

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.