FMC Technologies Inc. (NYSE:FTI) Receives $31.67 Average Price Target from Brokerages
FMC Technologies Inc. (NYSE:FTI) has received a consensus recommendation of “Hold” from the twenty-eight brokerages that are currently covering the firm. Fourteen analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $31.67.
A number of research firms recently weighed in on FTI. Jefferies Group reissued a “hold” rating on shares of FMC Technologies in a research note on Sunday, July 10th. Simmons reissued an “overweight” rating and issued a $29.00 target price (up previously from $27.00) on shares of FMC Technologies in a research note on Monday, July 25th. FBR & Co lowered their target price on shares of FMC Technologies from $28.00 to $27.00 and set a “mkt perform” rating on the stock in a research note on Wednesday, July 27th. Nomura set a $26.00 target price on shares of FMC Technologies and gave the company a “hold” rating in a research note on Tuesday, August 16th. Finally, Howard Weil lowered their target price on shares of FMC Technologies from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research note on Monday, July 25th.
In related news, VP Sanjay Bhatia sold 2,800 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $28.44, for a total value of $79,632.00. Following the transaction, the vice president now directly owns 48,943 shares in the company, valued at $1,391,938.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.86% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Aviva PLC raised its position in shares of FMC Technologies by 1.2% in the first quarter. Aviva PLC now owns 116,675 shares of the company’s stock valued at $3,192,000 after buying an additional 1,421 shares in the last quarter. Menta Capital LLC raised its position in shares of FMC Technologies by 174.7% in the first quarter. Menta Capital LLC now owns 122,500 shares of the company’s stock valued at $3,352,000 after buying an additional 77,900 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new position in shares of FMC Technologies during the first quarter valued at $3,446,000. Acrospire Investment Management LLC acquired a new position in shares of FMC Technologies during the first quarter valued at $186,000. Finally, JPMorgan Chase & Co. raised its position in shares of FMC Technologies by 725.1% in the first quarter. JPMorgan Chase & Co. now owns 2,796,096 shares of the company’s stock valued at $76,501,000 after buying an additional 2,457,213 shares in the last quarter. Institutional investors and hedge funds own 89.63% of the company’s stock.
Shares of FMC Technologies (NYSE:FTI) opened at 30.95 on Tuesday. The company has a market cap of $6.98 billion, a PE ratio of 44.28 and a beta of 1.14. The stock’s 50 day moving average price is $28.40 and its 200-day moving average price is $27.55. FMC Technologies has a 12-month low of $22.30 and a 12-month high of $35.93.
FMC Technologies (NYSE:FTI) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by $0.08. FMC Technologies had a return on equity of 13.44% and a net margin of 2.99%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The business’s revenue for the quarter was down 32.2% compared to the same quarter last year. On average, equities research analysts forecast that FMC Technologies will post $0.92 earnings per share for the current year.
FMC Technologies Company Profile
FMC Technologies, Inc is a global provider of technology solutions for the energy industry. The Company designs, manufactures and services a range of systems and products, including subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems.
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