FMC Technologies, Inc. (FTI) Downgraded by HSBC Securities to “Reduce”
FMC Technologies, Inc. (NYSE:FTI) was downgraded by research analysts at HSBC Securities from a “hold” rating to a “reduce” rating in a report released on Wednesday.
FTI has been the subject of several other research reports. ValuEngine downgraded shares of FMC Technologies from a “buy” rating to a “hold” rating in a report on Friday, September 1st. HSBC Holdings PLC lowered shares of FMC Technologies from a “hold” rating to a “reduce” rating in a research report on Wednesday. UBS AG reiterated a “buy” rating and set a $36.00 target price (down previously from $40.00) on shares of FMC Technologies in a research report on Monday, July 31st. Goldman Sachs Group, Inc. (The) lowered shares of FMC Technologies from a “buy” rating to a “neutral” rating and set a $30.00 target price for the company. in a research report on Monday. Finally, Barclays PLC set a $28.00 target price on shares of FMC Technologies and gave the stock a “hold” rating in a research report on Thursday, October 26th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $34.03.
FMC Technologies (NYSE FTI) traded down $1.24 during trading hours on Wednesday, hitting $27.16. 3,427,900 shares of the stock were exchanged, compared to its average volume of 4,134,114. The company has a market cap of $13,251.21, a price-to-earnings ratio of 22.72, a P/E/G ratio of 0.93 and a beta of 0.89. FMC Technologies has a 12 month low of $24.53 and a 12 month high of $37.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.14 and a current ratio of 1.22.
FMC Technologies (NYSE:FTI) last issued its earnings results on Wednesday, October 25th. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.07). The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same quarter in the previous year, the company posted $0.22 earnings per share. The firm’s quarterly revenue was up 74.3% compared to the same quarter last year. equities analysts expect that FMC Technologies will post 1.61 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in FTI. Sentry Investment Management LLC grew its position in shares of FMC Technologies by 102.0% during the 2nd 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 in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in FMC Technologies during the second quarter valued at about $1,409,000. Nippon Life Insurance Co. boosted its position in FMC Technologies by 44.0% during the third quarter. Nippon Life Insurance Co. now owns 39,100 shares of the oil and gas company’s stock valued at $1,092,000 after purchasing an additional 11,952 shares in the last quarter. Advisors Asset Management Inc. boosted its position in FMC Technologies by 5.4% during the second quarter. Advisors Asset Management Inc. now owns 38,465 shares of the oil and gas company’s stock valued at $1,046,000 after purchasing an additional 1,982 shares in the last quarter. Finally, Sei Investments Co. boosted its position in FMC Technologies by 204.4% during the second quarter. Sei Investments Co. now owns 74,508 shares of the oil and gas company’s stock valued at $2,027,000 after purchasing an additional 50,033 shares in the last quarter. Institutional investors and hedge funds own 66.88% 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.
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