TechnipFMC plc (NYSE:FTI) Stock Has Average Target Price of $77.45

Shares of TechnipFMC plc (NYSE:FTI) have been given an average recommendation of “Buy” by the fourteen research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $78.18.

Several brokerages recently commented on FTI. Wall Street Zen lowered TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Zacks Research upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Weiss Ratings lowered TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, October 30th. Barclays increased their price objective on TechnipFMC from $86.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. Finally, UBS Group initiated coverage on TechnipFMC in a report on Monday, October 12th. They set a “buy” rating and a $89.00 price objective for the company.

TechnipFMC Stock Performance

NYSE:FTI opened at $63.57 on Tuesday. TechnipFMC has a 12-month low of $41.73 and a 12-month high of $80.70. The company has a quick ratio of 0.86, a current ratio of 1.09 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $24.72 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 0.99 and a beta of 0.89. The firm has a 50-day moving average price of $71.17 and a 200 day moving average price of $69.31.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, October 29th. The oil and gas company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.17. TechnipFMC had a net margin of 12.04% and a return on equity of 39.82%. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter last year, the company earned $0.75 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts anticipate that TechnipFMC will post 3.28 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Tuesday, November 17th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is presently 6.29%.

Insider Buying and Selling

In other TechnipFMC news, Director Eric D. Mullins acquired 6,365 shares of TechnipFMC stock in a transaction on Friday, August 14th. The shares were bought at an average price of $78.55 per share, with a total value of $499,970.75. Following the completion of the purchase, the director owned 8,070 shares in the company, valued at $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Thierry Conti sold 6,000 shares of the stock in a transaction on Monday, September 21st. The stock was sold at an average price of $71.85, for a total value of $431,100.00. Following the sale, the insider owned 85,813 shares in the company, valued at $6,165,664.05. The trade was a 6.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FTI. Aberdeen Group plc raised its stake in TechnipFMC by 3,983.5% during the 3rd quarter. Aberdeen Group plc now owns 2,682,761 shares of the oil and gas company’s stock worth $182,213,000 after buying an additional 2,617,064 shares during the period. Russell Investments Group Ltd. lifted its holdings in TechnipFMC by 8.9% during the third quarter. Russell Investments Group Ltd. now owns 414,969 shares of the oil and gas company’s stock worth $28,219,000 after acquiring an additional 33,760 shares in the last quarter. Eurizon Capital SGR S.p.A. grew its stake in TechnipFMC by 104.6% in the third quarter. Eurizon Capital SGR S.p.A. now owns 160,712 shares of the oil and gas company’s stock valued at $10,924,000 after acquiring an additional 82,164 shares during the period. CENTRAL TRUST Co grew its stake in TechnipFMC by 18.8% in the third quarter. CENTRAL TRUST Co now owns 6,717 shares of the oil and gas company’s stock valued at $456,000 after acquiring an additional 1,063 shares during the period. Finally, Fifth Third Bancorp grew its stake in TechnipFMC by 1.6% in the third quarter. Fifth Third Bancorp now owns 17,694 shares of the oil and gas company’s stock valued at $1,202,000 after acquiring an additional 271 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

About TechnipFMC

TechnipFMC is a global technology and services company serving the energy industry. It designs and delivers equipment and solutions for offshore and onshore oil and gas projects, with a particular focus on subsea production and related services.

Its offerings include subsea production systems, subsea installation and project services, and surface wellhead and production equipment. TechnipFMC also provides engineering and project-management capabilities, working with customers to develop and operate energy projects.

The company was formed in 2017 through the combination of Technip and FMC Technologies.