TechnipFMC (NYSE:FTI) Stock Price Expected to Rise, Evercore ISI Analyst Says

TechnipFMC (NYSE:FTI) had its price objective hoisted by equities research analysts at Evercore ISI from $37.00 to $39.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the oil and gas company’s stock. Evercore ISI’s price target would suggest a potential upside of 19.19% from the company’s current price.

A number of other research firms have also commented on FTI. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Tuesday, October 29th. Piper Sandler initiated coverage on TechnipFMC in a report on Thursday, December 19th. They issued an “overweight” rating and a $39.00 price objective for the company. The Goldman Sachs Group initiated coverage on TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective for the company. Royal Bank of Canada assumed coverage on TechnipFMC in a report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price objective for the company. Finally, StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, TechnipFMC has an average rating of “Buy” and a consensus price target of $36.15.

TechnipFMC Stock Up 0.8 %

Shares of FTI traded up $0.25 on Wednesday, reaching $32.72. The stock had a trading volume of 108,156 shares, compared to its average volume of 3,081,823. The firm has a market capitalization of $13.92 billion, a price-to-earnings ratio of 21.53 and a beta of 1.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The company has a 50-day simple moving average of $30.01 and a 200-day simple moving average of $27.74. TechnipFMC has a 12-month low of $18.50 and a 12-month high of $33.45.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 earnings per share. Sell-side analysts predict that TechnipFMC will post 1.61 EPS for the current year.

TechnipFMC announced that its board has approved a share repurchase program on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On TechnipFMC

A number of hedge funds have recently made changes to their positions in the company. Baker Tilly Wealth Management LLC lifted its position in shares of TechnipFMC by 4.1% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company’s stock worth $248,000 after buying an additional 338 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of TechnipFMC by 22.3% in the 4th quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock valued at $66,000 after purchasing an additional 414 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of TechnipFMC by 4.8% in the 3rd quarter. Ballentine Partners LLC now owns 11,223 shares of the oil and gas company’s stock valued at $294,000 after purchasing an additional 515 shares during the last quarter. Creative Planning lifted its stake in shares of TechnipFMC by 3.2% in the 2nd quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock valued at $455,000 after purchasing an additional 546 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of TechnipFMC by 2.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,963 shares of the oil and gas company’s stock valued at $702,000 after purchasing an additional 616 shares during the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

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.