TechnipFMC (NYSE:FTI) Announces Earnings Results, Beats Expectations By $0.12 EPS

TechnipFMC (NYSE:FTI) posted its earnings results on Thursday. The oil and gas company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12, Briefing.com reports. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the prior year, the company posted $0.10 earnings per share. TechnipFMC’s revenue for the quarter was up 17.9% compared to the same quarter last year. TechnipFMC updated its FY 2024 guidance to EPS.

TechnipFMC Stock Performance

FTI stock traded up $0.49 during midday trading on Friday, hitting $28.87. 4,889,331 shares of the stock traded hands, compared to its average volume of 4,189,072. The firm has a market cap of $12.44 billion, a P/E ratio of 61.43 and a beta of 1.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.87. The stock’s fifty day simple moving average is $26.03 and its 200-day simple moving average is $24.07. TechnipFMC has a 1-year low of $17.36 and a 1-year high of $29.24.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.20 annualized dividend and a yield of 0.69%. TechnipFMC’s dividend payout ratio is presently 42.55%.

Insider Activity at TechnipFMC

In other TechnipFMC news, CAO David Light sold 5,928 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total transaction of $153,001.68. Following the transaction, the chief accounting officer now directly owns 11,534 shares of the company’s stock, valued at $297,692.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FTI shares. Benchmark restated a “buy” rating and set a $30.00 price target on shares of TechnipFMC in a research note on Friday, April 26th. Susquehanna upped their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a research note on Friday. Bank of America upped their price target on shares of TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a research note on Monday, April 15th. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Sunday, April 28th. Finally, Citigroup upped their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, TechnipFMC has a consensus rating of “Moderate Buy” and a consensus price target of $28.62.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.