TechnipFMC (NYSE:FTI) Price Target Increased to $37.00 by Analysts at TD Cowen

TechnipFMC (NYSE:FTI) had its price objective lifted by equities researchers at TD Cowen from $35.00 to $37.00 in a research note issued on Friday, Briefing.com reports. The firm presently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s price target indicates a potential upside of 43.08% from the stock’s current price.

Several other analysts have also commented on FTI. Citigroup increased 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. Bank of America boosted their target price on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Susquehanna increased their price target on TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a research report on Friday, July 26th. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a report on Monday. Finally, BMO Capital Markets upped their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.19.

TechnipFMC Trading Up 2.8 %

Shares of NYSE:FTI opened at $25.86 on Friday. The company has a 50 day moving average of $26.14 and a 200-day moving average of $26.18. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The firm has a market cap of $11.14 billion, a P/E ratio of 55.02 and a beta of 1.50. TechnipFMC has a twelve month low of $18.33 and a twelve month high of $29.85.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.25. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the firm earned $0.21 EPS. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, analysts anticipate that TechnipFMC will post 1.37 earnings per share for the current fiscal year.

TechnipFMC announced that its Board of Directors has initiated a stock buyback plan on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On TechnipFMC

Institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings in TechnipFMC by 8.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock valued at $1,019,337,000 after buying an additional 3,259,348 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of TechnipFMC by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock worth $1,005,652,000 after purchasing an additional 134,880 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of TechnipFMC by 2.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company’s stock valued at $228,384,000 after purchasing an additional 204,435 shares during the period. Anomaly Capital Management LP raised its stake in shares of TechnipFMC by 50.3% in the second quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock valued at $89,429,000 after purchasing an additional 1,144,087 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its position in TechnipFMC by 56.7% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,954,356 shares of the oil and gas company’s stock worth $74,184,000 after purchasing an additional 1,068,788 shares during the period. 96.58% of the stock is currently owned by institutional investors.

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.