Research Analysts Offer Predictions for FMC Technologies Inc.’s FY2016 Earnings (FTI)
FMC Technologies Inc. (NYSE:FTI) – Equities research analysts at Griffin Securities increased their FY2016 earnings per share (EPS) estimates for shares of FMC Technologies in a research note issued to investors on Tuesday. Griffin Securities analyst K. Simpson now anticipates that the brokerage will post earnings per share of $1.07 for the year, up from their prior forecast of $0.90. Griffin Securities has a “Buy” rating and a $46.00 price objective on the stock. Griffin Securities also issued estimates for FMC Technologies’ Q4 2016 earnings at $0.28 EPS and FY2017 earnings at $1.00 EPS.
FMC Technologies (NYSE:FTI) last issued its quarterly earnings data on Wednesday, October 19th. The company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.12. FMC Technologies had a net margin of 2.25% and a return on equity of 10.93%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the business earned $0.61 EPS. The business’s quarterly revenue was down 29.4% on a year-over-year basis.
A number of other brokerages have also commented on FTI. Jefferies Group set a $33.00 price target on shares of FMC Technologies and gave the stock a “hold” rating in a report on Monday, October 24th. JPMorgan Chase & Co. reiterated a “hold” rating and set a $31.00 price target on shares of FMC Technologies in a report on Thursday, November 3rd. Capital One Financial Corp. upgraded shares of FMC Technologies from an “equal weight” rating to an “overweight” rating and set a $36.00 price target on the stock in a report on Thursday, August 25th. Seaport Global Securities downgraded shares of FMC Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $29.00 to $28.00 in a research note on Thursday, September 22nd. Finally, Citigroup Inc. lifted their target price on shares of FMC Technologies from $29.00 to $31.00 and gave the stock a “neutral” rating in a research note on Monday, September 12th. Fifteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. FMC Technologies currently has an average rating of “Hold” and a consensus price target of $32.34.
Several hedge funds have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC acquired a new stake in FMC Technologies during the third quarter valued at about $2,251,000. Credit Suisse AG raised its stake in FMC Technologies by 4.0% in the third quarter. Credit Suisse AG now owns 654,846 shares of the company’s stock valued at $19,429,000 after buying an additional 24,946 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new stake in FMC Technologies during the third quarter valued at about $2,695,000. Bamco Inc. NY acquired a new stake in FMC Technologies during the third quarter valued at about $1,139,000. Finally, BTG Pactual Global Asset Management Ltd acquired a new stake in FMC Technologies during the third quarter valued at about $2,730,000. 88.38% of the stock is currently owned by institutional investors.
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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