TechnipFMC PLC (NYSE:FTI) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 12,566,100 shares, a drop of 9.2% from the June 30th total of 13,840,000 shares. Based on an average daily trading volume, of 3,470,000 shares, the days-to-cover ratio is presently 3.6 days. Currently, 3.0% of the shares of the stock are short sold.
Shares of TechnipFMC stock traded down $0.25 during midday trading on Thursday, hitting $23.02. 4,859,496 shares of the company traded hands, compared to its average volume of 3,828,761. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 3.11 and a beta of 1.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.04 and a current ratio of 1.18. The firm’s fifty day moving average price is $25.56 and its 200-day moving average price is $23.80. TechnipFMC has a 12 month low of $18.20 and a 12 month high of $32.91.
TechnipFMC (NYSE:FTI) last posted its earnings results on Wednesday, July 24th. The oil and gas company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.35 by $0.04. TechnipFMC had a negative net margin of 15.64% and a positive return on equity of 2.76%. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same period last year, the company earned $0.28 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. Equities research analysts forecast that TechnipFMC will post 1.29 earnings per share for the current year.
Several research firms have commented on FTI. BMO Capital Markets set a $32.00 target price on shares of TechnipFMC and gave the company a “buy” rating in a report on Friday, July 26th. TheStreet raised shares of TechnipFMC from a “c+” rating to a “b-” rating in a report on Wednesday, July 10th. AltaCorp Capital reaffirmed an “outperform” rating on shares of TechnipFMC in a report on Thursday, June 20th. Citigroup lifted their price target on shares of TechnipFMC from $27.40 to $29.50 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Cowen reaffirmed a “buy” rating and set a $28.00 price target on shares of TechnipFMC in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $31.28.
Large investors have recently bought and sold shares of the stock. Icon Wealth Partners LLC acquired a new stake in TechnipFMC during the 1st quarter worth approximately $28,000. Meeder Asset Management Inc. boosted its position in TechnipFMC by 217.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,344 shares of the oil and gas company’s stock worth $35,000 after buying an additional 921 shares during the period. Royal London Asset Management Ltd. acquired a new stake in TechnipFMC during the 1st quarter worth approximately $37,000. Mizuho Securities Co. Ltd. acquired a new stake in TechnipFMC during the 2nd quarter worth approximately $39,000. Finally, Rockefeller Capital Management L.P. boosted its position in TechnipFMC by 116.3% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,728 shares of the oil and gas company’s stock worth $45,000 after buying an additional 929 shares during the period. Institutional investors and hedge funds own 72.65% of the company’s stock.
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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