TechnipFMC plc (NYSE:FTI) Forecasted to Post Q1 2024 Earnings of $0.17 Per Share

TechnipFMC plc (NYSE:FTI) – Research analysts at Capital One Financial increased their Q1 2024 earnings per share estimates for TechnipFMC in a report issued on Tuesday, April 23rd. Capital One Financial analyst D. Becker now anticipates that the oil and gas company will post earnings per share of $0.17 for the quarter, up from their previous forecast of $0.16. The consensus estimate for TechnipFMC’s current full-year earnings is $1.15 per share. Capital One Financial also issued estimates for TechnipFMC’s Q1 2025 earnings at $0.31 EPS, Q3 2025 earnings at $0.58 EPS and Q4 2025 earnings at $0.51 EPS.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, February 22nd. The oil and gas company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter last year, the business posted ($0.05) earnings per share. The company’s quarterly revenue was up 22.6% on a year-over-year basis.

Several other research analysts have also recently weighed in on the company. StockNews.com cut TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. TD Cowen upped their target price on TechnipFMC from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Susquehanna reaffirmed a “positive” rating and set a $27.00 target price on shares of TechnipFMC in a report on Monday, April 8th. Benchmark reaffirmed a “buy” rating and set a $30.00 target price (up from $25.00) on shares of TechnipFMC in a report on Monday, April 1st. Finally, Barclays upped their target price on TechnipFMC from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, TechnipFMC has an average rating of “Moderate Buy” and a consensus price target of $25.34.

TechnipFMC Trading Up 3.5 %

Shares of FTI stock opened at $26.63 on Wednesday. The stock has a 50-day simple moving average of $24.07 and a 200 day simple moving average of $21.50. TechnipFMC has a fifty-two week low of $12.64 and a fifty-two week high of $27.26. The stock has a market capitalization of $11.64 billion, a P/E ratio of 221.94 and a beta of 1.65. The company has a quick ratio of 0.92, a current ratio of 1.16 and a debt-to-equity ratio of 0.32.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Raymond James & Associates increased its holdings in shares of TechnipFMC by 15.6% during the 1st quarter. Raymond James & Associates now owns 303,060 shares of the oil and gas company’s stock valued at $7,610,000 after acquiring an additional 40,869 shares during the last quarter. Oak Harvest Investment Services acquired a new position in shares of TechnipFMC during the 1st quarter valued at about $1,186,000. Norden Group LLC increased its holdings in shares of TechnipFMC by 2,899.1% during the 1st quarter. Norden Group LLC now owns 378,900 shares of the oil and gas company’s stock valued at $9,514,000 after acquiring an additional 366,266 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of TechnipFMC by 43.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,405 shares of the oil and gas company’s stock valued at $211,000 after acquiring an additional 2,543 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of TechnipFMC by 56.7% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,954,356 shares of the oil and gas company’s stock valued at $74,184,000 after acquiring an additional 1,068,788 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Transactions at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $21.20, for a total transaction of $264,809.20. Following the completion of the sale, the director now directly owns 103,982 shares of the company’s stock, valued at approximately $2,204,418.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.06% of the company’s stock.

TechnipFMC Announces Dividend

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 paid 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 of this dividend is Monday, May 20th. TechnipFMC’s dividend payout ratio (DPR) is presently 166.68%.

TechnipFMC Company Profile

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.