Cowen reiterated their buy rating on shares of TechnipFMC (NYSE:FTI) in a research note released on Thursday, AnalystRatings.com reports. They currently have a $28.00 target price on the oil and gas company’s stock.
A number of other brokerages have also issued reports on FTI. AltaCorp Capital reiterated a sector perform rating on shares of STEP Energy Services in a report on Thursday, June 20th. ValuEngine lowered Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. HSBC set a €10.10 ($11.74) target price on Deutz and gave the stock a buy rating in a report on Friday, March 22nd. Barclays restated a hold rating on shares of Mettler-Toledo International in a report on Wednesday, May 15th. Finally, Wells Fargo & Co upped their target price on TechnipFMC from $26.00 to $28.00 and gave the stock an outperform rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seventeen have given a buy rating to the company. TechnipFMC presently has an average rating of Buy and a consensus target price of $31.11.
Shares of NYSE FTI opened at $25.78 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $11.55 billion, a price-to-earnings ratio of 46.04, a price-to-earnings-growth ratio of 3.46 and a beta of 1.45. The company has a 50 day moving average price of $23.58. TechnipFMC has a 52-week low of $18.20 and a 52-week high of $33.60.
TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.24). The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $3.13 billion. TechnipFMC had a negative net margin of 16.17% and a positive return on equity of 2.23%. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS. Equities research analysts anticipate that TechnipFMC will post 1.24 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the company. Crossmark Global Holdings Inc. lifted its holdings in shares of TechnipFMC by 10.3% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 91,346 shares of the oil and gas company’s stock valued at $2,370,000 after purchasing an additional 8,530 shares during the last quarter. Horizon Investments LLC purchased a new stake in shares of TechnipFMC during the 1st quarter valued at $220,000. Nordea Investment Management AB lifted its holdings in shares of TechnipFMC by 42.1% during the 1st quarter. Nordea Investment Management AB now owns 51,546 shares of the oil and gas company’s stock valued at $1,212,000 after purchasing an additional 15,282 shares during the last quarter. Allstate Corp lifted its holdings in shares of TechnipFMC by 15.8% during the 1st quarter. Allstate Corp now owns 13,086 shares of the oil and gas company’s stock valued at $308,000 after purchasing an additional 1,782 shares during the last quarter. Finally, Primecap Management Co. CA lifted its holdings in shares of TechnipFMC by 58.7% during the 1st quarter. Primecap Management Co. CA now owns 102,500 shares of the oil and gas company’s stock valued at $2,411,000 after purchasing an additional 37,900 shares during the last quarter. Hedge funds and other institutional investors own 72.28% 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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