FMC Technologies, Inc. (FTI) Lowered to “Neutral” at The Goldman Sachs Group, Inc.
The Goldman Sachs Group, Inc. cut shares of FMC Technologies, Inc. (NYSE:FTI) from a buy rating to a neutral rating in a research report report published on Monday, Marketbeat Ratings reports. The Goldman Sachs Group, Inc. currently has $30.00 price target on the oil and gas company’s stock.
FTI has been the subject of several other research reports. ValuEngine lowered FMC Technologies from a buy rating to a hold rating in a research note on Friday, September 1st. Gabelli upgraded FMC Technologies from a hold rating to a buy rating and set a $39.00 price target for the company in a research note on Friday, October 20th. Royal Bank Of Canada upgraded FMC Technologies from a sector perform rating to an outperform rating and set a $37.00 price target for the company in a research note on Friday, August 25th. Piper Jaffray Companies restated a buy rating and issued a $31.50 price target on shares of FMC Technologies in a research note on Tuesday, September 26th. Finally, Barclays PLC cut their price target on FMC Technologies from $30.00 to $28.00 and set an equal weight rating for the company in a research note on Friday, October 27th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $33.83.
FMC Technologies (NYSE FTI) traded up $0.04 during midday trading on Monday, hitting $26.54. The company’s stock had a trading volume of 2,732,400 shares, compared to its average volume of 4,124,463. The stock has a market cap of $12,380.00 and a price-to-earnings ratio of 21.20. FMC Technologies has a twelve month low of $24.53 and a twelve month high of $37.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.14.
FMC Technologies (NYSE:FTI) last released its quarterly earnings data on Wednesday, October 25th. The oil and gas company reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.07). The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the firm earned $0.22 EPS. The business’s revenue was up 74.3% on a year-over-year basis. sell-side analysts expect that FMC Technologies will post 1.61 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 21st will be paid a $0.13 dividend. The ex-dividend date is Monday, November 20th. This represents a $0.52 annualized dividend and a yield of 1.96%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FTI. Great West Life Assurance Co. Can boosted its stake in FMC Technologies by 70.0% in the third quarter. Great West Life Assurance Co. Can now owns 4,329 shares of the oil and gas company’s stock valued at $121,000 after acquiring an additional 1,783 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in FMC Technologies in the second quarter valued at $161,000. Macquarie Group Ltd. acquired a new position in FMC Technologies in the third quarter valued at $190,000. Bank of Nova Scotia Trust Co. acquired a new stake in shares of FMC Technologies during the third quarter worth about $192,000. Finally, Conning Inc. boosted its stake in shares of FMC Technologies by 2.7% during the second quarter. Conning Inc. now owns 7,665 shares of the oil and gas company’s stock worth $208,000 after buying an additional 200 shares during the period. Institutional investors 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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