TechnipFMC (NYSE:FTI) Price Target Cut to $34.00 by Analysts at Morgan Stanley

TechnipFMC (NYSE:FTI) had its price objective trimmed by Morgan Stanley from $36.00 to $34.00 in a research report released on Thursday, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

A number of other research analysts also recently weighed in on the stock. Berenberg Bank reissued a buy rating and set a $26.00 target price on shares of TechnipFMC in a research report on Tuesday, August 27th. BMO Capital Markets set a $32.00 target price on shares of TechnipFMC and gave the company a buy rating in a research report on Friday, July 26th. ValuEngine raised shares of TechnipFMC from a sell rating to a hold rating in a research report on Tuesday, July 2nd. AltaCorp Capital reissued an outperform rating on shares of TechnipFMC in a research report on Thursday, June 20th. Finally, Cowen reissued a buy rating and set a $28.00 target price on shares of TechnipFMC in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company’s stock. TechnipFMC presently has a consensus rating of Buy and an average target price of $30.07.

FTI stock traded up $0.49 during trading on Thursday, reaching $24.49. The stock had a trading volume of 763,710 shares, compared to its average volume of 4,263,453. TechnipFMC has a one year low of $18.20 and a one year high of $32.91. The company has a quick ratio of 1.04, a current ratio of 1.18 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $24.70 and its two-hundred day moving average is $24.06. The company has a market capitalization of $10.99 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 1.23 and a beta of 1.50.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ 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 during the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the prior year, the firm posted $0.28 EPS. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, research analysts predict that TechnipFMC will post 1.27 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.12%. The ex-dividend date was Monday, August 19th.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of TechnipFMC by 84.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 235,211 shares of the oil and gas company’s stock valued at $6,101,000 after buying an additional 107,631 shares in the last quarter. Boston Partners purchased a new stake in shares of TechnipFMC during the 2nd quarter valued at $157,000. Mackenzie Financial Corp purchased a new stake in shares of TechnipFMC during the 2nd quarter valued at $516,000. Platinum Investment Management Ltd. raised its position in shares of TechnipFMC by 10.0% during the 2nd quarter. Platinum Investment Management Ltd. now owns 9,070,608 shares of the oil and gas company’s stock valued at $235,292,000 after buying an additional 821,127 shares in the last quarter. Finally, Primecap Management Co. CA raised its position in shares of TechnipFMC by 92.3% during the 2nd quarter. Primecap Management Co. CA now owns 197,100 shares of the oil and gas company’s stock valued at $5,113,000 after buying an additional 94,600 shares in the last quarter. Institutional investors and hedge funds own 76.08% of the company’s stock.

About TechnipFMC

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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Analyst Recommendations for TechnipFMC (NYSE:FTI)

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