Capital One Financial Weighs in on TechnipFMC plc’s Q3 2024 Earnings (NYSE:FTI)

TechnipFMC plc (NYSE:FTI) – Equities research analysts at Capital One Financial boosted their Q3 2024 earnings per share (EPS) estimates for shares of TechnipFMC in a note issued to investors on Tuesday, October 8th. Capital One Financial analyst D. Becker now expects that the oil and gas company will earn $0.39 per share for the quarter, up from their previous forecast of $0.35. The consensus estimate for TechnipFMC’s current full-year earnings is $1.34 per share. Capital One Financial also issued estimates for TechnipFMC’s Q4 2024 earnings at $0.36 EPS, Q1 2025 earnings at $0.34 EPS, Q2 2025 earnings at $0.52 EPS, Q3 2025 earnings at $0.57 EPS, Q4 2025 earnings at $0.54 EPS and FY2025 earnings at $1.97 EPS.

A number of other brokerages have also recently issued reports on FTI. Susquehanna increased their target price on TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a report on Friday, July 26th. BMO Capital Markets increased their price objective on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday. Citigroup boosted their target price 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. Finally, StockNews.com lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and an average target price of $29.80.

TechnipFMC Stock Performance

NYSE:FTI opened at $27.49 on Wednesday. The firm has a market capitalization of $11.85 billion, a PE ratio of 58.49 and a beta of 1.50. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. TechnipFMC has a 12-month low of $18.33 and a 12-month high of $29.85. The firm has a 50-day moving average price of $26.13 and a 200 day moving average price of $26.16.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the company earned $0.10 earnings per share. The business’s revenue was up 17.9% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Norden Group LLC raised its position in shares of TechnipFMC by 2,899.1% during the first quarter. Norden Group LLC now owns 378,900 shares of the oil and gas company’s stock worth $9,514,000 after acquiring an additional 366,266 shares during the last quarter. Vanguard Group Inc. lifted its position in TechnipFMC by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 39,914,980 shares of the oil and gas company’s stock valued at $803,888,000 after purchasing an additional 126,247 shares during the period. Edgestream Partners L.P. bought a new position in shares of TechnipFMC in the 1st quarter valued at about $965,000. Balyasny Asset Management L.P. grew its position in shares of TechnipFMC by 868.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock worth $63,082,000 after buying an additional 2,808,618 shares during the period. Finally, Atria Investments Inc bought a new stake in shares of TechnipFMC during the first quarter worth approximately $1,684,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.73%. TechnipFMC’s payout ratio is 42.55%.

About TechnipFMC

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.