TechnipFMC (NYSE:FTI) Posts Earnings Results, Beats Estimates By $0.25 EPS

TechnipFMC (NYSE:FTI) issued its quarterly earnings data on Thursday. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.39 by $0.25, Briefing.com reports. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The firm’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS. TechnipFMC updated its FY 2024 guidance to EPS.

TechnipFMC Stock Performance

TechnipFMC stock traded up $0.72 during midday trading on Friday, reaching $26.58. 2,073,047 shares of the company’s stock were exchanged, compared to its average volume of 4,071,994. TechnipFMC has a 52 week low of $18.33 and a 52 week high of $29.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.10. The firm has a market cap of $11.46 billion, a price-to-earnings ratio of 56.34 and a beta of 1.50. The stock’s 50-day simple moving average is $26.14 and its 200 day simple moving average is $26.18.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC’s payout ratio is currently 42.55%.

Analyst Ratings Changes

FTI has been the topic of several research analyst reports. TD Cowen raised their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday. BMO Capital Markets raised their price objective on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, October 10th. Susquehanna raised their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a research note on Friday. Citigroup raised their price objective on TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research note on Monday. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.37.

TechnipFMC declared that its board has approved a share repurchase program on Wednesday, October 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

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.