FMC Technologies, Inc. (FTI) Downgraded by ValuEngine
ValuEngine cut shares of FMC Technologies, Inc. (NYSE:FTI) from a buy rating to a hold rating in a report published on Friday.
Several other research analysts have also recently commented on the company. Royal Bank Of Canada raised FMC Technologies from a sector perform rating to an outperform rating and set a $37.00 target price for the company in a research report on Friday, August 25th. BidaskClub cut FMC Technologies from a sell rating to a strong sell rating in a research report on Tuesday, August 8th. UBS AG reaffirmed a buy rating and issued a $36.00 target price (down from $40.00) on shares of FMC Technologies in a research report on Monday, July 31st. Seaport Global Securities reaffirmed a neutral rating on shares of FMC Technologies in a research report on Thursday, July 27th. Finally, Scotiabank set a $36.00 target price on FMC Technologies and gave the stock a buy rating in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $35.25.
FMC Technologies (FTI) traded up 1.90% during mid-day trading on Friday, reaching $26.32. 2,554,038 shares of the company traded hands. FMC Technologies has a 52-week low of $25.17 and a 52-week high of $36.14. The company has a market capitalization of $12.29 billion, a P/E ratio of 31.83 and a beta of 0.93. The stock has a 50 day moving average price of $26.94 and a 200-day moving average price of $29.71.
FMC Technologies (NYSE:FTI) last posted its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.08. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.80 billion. Analysts expect that FMC Technologies will post $1.06 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently modified their holdings of the business. Achmea Investment Management B.V. bought a new position in FMC Technologies during the second quarter worth about $1,227,000. Kimelman & Baird LLC bought a new position in FMC Technologies during the second quarter worth about $408,000. Sentry Investment Management LLC boosted its holdings in FMC Technologies by 102.0% during the second quarter. Sentry Investment Management LLC now owns 19,163 shares of the oil and gas company’s stock worth $521,000 after buying an additional 9,677 shares during the last quarter. Toronto Dominion Bank boosted its holdings in FMC Technologies by 25.6% during the second quarter. Toronto Dominion Bank now owns 157,776 shares of the oil and gas company’s stock worth $4,291,000 after buying an additional 32,120 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in FMC Technologies during the second quarter worth about $313,000. Hedge funds and other institutional investors own 65.36% of the company’s stock.
About FMC Technologies
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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