The Goldman Sachs Group Begins Coverage on TechnipFMC (NYSE:FTI)

Equities research analysts at The Goldman Sachs Group initiated coverage on shares of TechnipFMC (NYSE:FTI) in a research note issued to investors on Friday,Benzinga reports. The brokerage set a “buy” rating and a $38.00 price target on the oil and gas company’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 23.06% from the stock’s current price.

Several other research firms have also weighed in on FTI. HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, October 29th. Bank of America boosted their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Citigroup boosted their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. Finally, BMO Capital Markets boosted their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $34.69.

TechnipFMC Stock Down 0.2 %

Shares of FTI stock opened at $30.88 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC has a 1 year low of $18.33 and a 1 year high of $32.64. The firm’s fifty day moving average price is $28.38 and its two-hundred day moving average price is $26.92. The firm has a market capitalization of $13.14 billion, a P/E ratio of 20.32 and a beta of 1.54.

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 net margin of 7.63% and a return on equity of 20.11%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the business earned $0.21 EPS. The company’s revenue was up 14.2% compared to the same quarter last year. On average, equities analysts predict that TechnipFMC will post 1.61 EPS for the current fiscal year.

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

Institutional Trading of TechnipFMC

Institutional investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its holdings in TechnipFMC by 203.6% in the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 735 shares during the period. ORG Wealth Partners LLC bought a new stake in TechnipFMC in the 3rd quarter valued at about $30,000. ORG Partners LLC bought a new stake in TechnipFMC in the 2nd quarter valued at about $33,000. GAMMA Investing LLC lifted its holdings in shares of TechnipFMC by 59.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 693 shares during the period. Finally, Crewe Advisors LLC bought a new stake in shares of TechnipFMC during the 2nd quarter worth approximately $51,000. Institutional investors own 96.58% of the company’s stock.

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.