TechnipFMC (FTI) Shares Gap Up to $31.20

TechnipFMC PLC (NYSE:FTI) shares gapped up before the market opened on Monday . The stock had previously closed at $30.48, but opened at $31.20. TechnipFMC shares last traded at $31.76, with a volume of 3263800 shares trading hands.

A number of research firms have recently commented on FTI. Barclays upped their target price on TechnipFMC from $32.00 to $35.00 and gave the company a “hold” rating in a research note on Thursday, August 2nd. BMO Capital Markets upped their target price on TechnipFMC from $34.00 to $35.00 and gave the company a “market perform” rating in a research note on Monday, July 30th. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Thursday, August 16th. Citigroup cut TechnipFMC from a “buy” rating to a “neutral” rating in a research note on Monday, July 2nd. Finally, Credit Suisse Group began coverage on TechnipFMC in a research note on Tuesday, July 17th. They set an “outperform” rating and a $38.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seventeen have given a buy rating to the company. TechnipFMC presently has an average rating of “Buy” and a consensus price target of $36.09.

The company has a market capitalization of $14.82 billion, a PE ratio of 25.19, a P/E/G ratio of 2.42 and a beta of 0.88. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.29 and a quick ratio of 1.17.

TechnipFMC (NYSE:FTI) last posted its earnings results on Wednesday, July 25th. The oil and gas company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.11). The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.20 billion. TechnipFMC had a return on equity of 4.02% and a net margin of 1.21%. The firm’s quarterly revenue was down 23.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. equities analysts anticipate that TechnipFMC PLC will post 1.37 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 5th. Shareholders of record on Tuesday, August 21st were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, August 20th. This represents a $0.52 dividend on an annualized basis and a yield of 1.60%. TechnipFMC’s dividend payout ratio is currently 20.16%.

Institutional investors have recently bought and sold shares of the business. Pinebridge Investments L.P. lifted its holdings in TechnipFMC by 270.1% during the second quarter. Pinebridge Investments L.P. now owns 3,775 shares of the oil and gas company’s stock worth $120,000 after buying an additional 2,755 shares during the period. Tower Research Capital LLC TRC purchased a new stake in TechnipFMC during the second quarter worth $143,000. Point72 Asia Hong Kong Ltd lifted its holdings in TechnipFMC by 315.2% during the first quarter. Point72 Asia Hong Kong Ltd now owns 5,298 shares of the oil and gas company’s stock worth $156,000 after buying an additional 4,022 shares during the period. Putnam Investments LLC purchased a new stake in TechnipFMC during the second quarter worth $210,000. Finally, Dai Ichi Life Insurance Company Ltd purchased a new stake in TechnipFMC during the second quarter worth $210,000. Institutional investors own 64.61% of the company’s stock.

TechnipFMC Company Profile (NYSE:FTI)

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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