Societe Generale Begins Coverage on FMC Technologies, Inc. (FTI)
Societe Generale started coverage on shares of FMC Technologies, Inc. (NYSE:FTI) in a research report released on Thursday, Marketbeat.com reports. The brokerage issued a buy rating and a $38.00 price target on the oil and gas company’s stock.
FTI has been the topic of a number of other research reports. Goldman Sachs Group, Inc. (The) cut shares of FMC Technologies from a buy rating to a neutral rating and set a $30.00 price target on the stock. in a research report on Monday, November 13th. Seaport Global Securities reaffirmed a neutral rating on shares of FMC Technologies in a research report on Thursday, July 27th. Scotiabank set a $36.00 price target on shares of FMC Technologies and gave the company a buy rating in a research report on Thursday, July 27th. BidaskClub raised shares of FMC Technologies from a strong sell rating to a sell rating in a research report on Tuesday, August 1st. Finally, UBS AG reaffirmed a buy rating and set a $36.00 price target (down previously from $40.00) on shares of FMC Technologies in a research report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $33.83.
Shares of FMC Technologies (NYSE:FTI) traded up $0.08 during trading on Thursday, hitting $26.62. 2,340,000 shares of the company traded hands, compared to its average volume of 4,356,230. The company has a current ratio of 1.22, a quick ratio of 1.14 and a debt-to-equity ratio of 0.23. FMC Technologies has a one year low of $24.53 and a one year high of $36.14. The company has a market capitalization of $12,420.68, a PE ratio of 21.30, a price-to-earnings-growth ratio of 0.87 and a beta of 0.89.
FMC Technologies (NYSE:FTI) last issued its quarterly earnings data on Wednesday, October 25th. The oil and gas company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.07). The company had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter last year, the company posted $0.22 earnings per share. The firm’s revenue was up 74.3% compared to the same quarter last year. equities research analysts anticipate that FMC Technologies will post 1.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 21st will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Monday, November 20th.
A number of large investors have recently modified their holdings of FTI. Great West Life Assurance Co. Can increased its position in shares of 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 during the period. C M Bidwell & Associates Ltd. purchased a new position in shares of FMC Technologies in the second quarter valued at about $161,000. Macquarie Group Ltd. purchased a new position in shares of FMC Technologies in the third quarter valued at about $190,000. Bank of Nova Scotia Trust Co. purchased a new position in shares of FMC Technologies in the third quarter valued at about $192,000. Finally, Conning Inc. increased its position in shares of FMC Technologies by 2.7% in the second quarter. Conning Inc. now owns 7,665 shares of the oil and gas company’s stock valued at $208,000 after acquiring 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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