Jefferies Financial Group lowered shares of TechnipFMC (NYSE:FTI) from a buy rating to a hold rating in a research note issued to investors on Friday, Benzinga reports. Jefferies Financial Group currently has $21.00 price target on the oil and gas company’s stock, down from their previous price target of $33.00. Jefferies Financial Group also issued estimates for TechnipFMC’s Q4 2019 earnings at $0.47 EPS, Q1 2020 earnings at $0.17 EPS, Q2 2020 earnings at $0.28 EPS and Q4 2020 earnings at $0.30 EPS.

Several other research firms have also issued reports on FTI. Royal Bank of Canada set a $30.00 target price on shares of TechnipFMC and gave the stock a buy rating in a report on Friday, October 25th. Deutsche Bank started coverage on shares of TechnipFMC in a research note on Wednesday, November 27th. They issued a buy rating and a $33.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of TechnipFMC from $32.00 to $35.00 and gave the company an overweight rating in a research report on Wednesday, October 23rd. Wells Fargo & Co set a $30.00 price objective on shares of TechnipFMC and gave the company a buy rating in a research report on Friday, October 25th. Finally, Morgan Stanley lowered their target price on shares of TechnipFMC from $34.00 to $33.00 and set an overweight rating on the stock in a research note on Friday, October 11th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $28.68.

Shares of FTI stock opened at $19.00 on Friday. The business’s fifty day moving average is $20.38 and its 200 day moving average is $23.29. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 0.43. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 1.02 and a beta of 1.44. TechnipFMC has a twelve month low of $18.20 and a twelve month high of $28.57.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.38). TechnipFMC had a positive return on equity of 2.11% and a negative net margin of 16.30%. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts expect that TechnipFMC will post 1.26 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Monday, November 18th.

In other news, Director Olivier Piou purchased 3,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were purchased at an average price of $19.49 per share, for a total transaction of $58,470.00. Following the completion of the purchase, the director now owns 3,000 shares in the company, valued at approximately $58,470. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.50% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Millennium Management LLC increased its position in shares of TechnipFMC by 11,799.1% in the third quarter. Millennium Management LLC now owns 5,168,149 shares of the oil and gas company’s stock valued at $124,759,000 after buying an additional 5,124,716 shares in the last quarter. Man Group plc grew its stake in TechnipFMC by 1,249.7% in the 3rd quarter. Man Group plc now owns 219,300 shares of the oil and gas company’s stock valued at $5,294,000 after acquiring an additional 203,052 shares during the period. Energy Opportunities Capital Management LLC increased its holdings in TechnipFMC by 4.8% in the 3rd quarter. Energy Opportunities Capital Management LLC now owns 64,483 shares of the oil and gas company’s stock worth $1,557,000 after acquiring an additional 2,981 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in TechnipFMC by 12.1% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,317,644 shares of the oil and gas company’s stock worth $31,808,000 after acquiring an additional 142,327 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in TechnipFMC by 1.9% during the third quarter. California State Teachers Retirement System now owns 116,342 shares of the oil and gas company’s stock worth $2,808,000 after acquiring an additional 2,174 shares during the period. Hedge funds and other institutional investors own 79.86% of the company’s stock.

TechnipFMC Company Profile

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.

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Analyst Recommendations for TechnipFMC (NYSE:FTI)

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