BNP Paribas Lowers TechnipFMC (NYSE:FTI) to Underperform

Share on StockTwits

BNP Paribas cut shares of TechnipFMC (NYSE:FTI) from a neutral rating to an underperform rating in a research note issued to investors on Thursday, June 21st.

Several other equities research analysts have also recently weighed in on the stock. Wells Fargo & Co upped their price objective on shares of TechnipFMC from $37.00 to $44.00 and gave the stock an outperform rating in a research report on Thursday, May 24th. DNB Markets raised shares of TechnipFMC from a hold rating to a buy rating in a research report on Friday, May 11th. Macquarie raised shares of TechnipFMC from a neutral rating to an outperform rating in a research report on Monday, April 23rd. Susquehanna Bancshares set a $39.00 target price on shares of TechnipFMC and gave the stock a buy rating in a report on Friday, April 13th. Finally, Cowen set a $38.00 target price on shares of TechnipFMC and gave the stock a buy rating in a report on Friday, April 13th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $33.78.

Shares of TechnipFMC opened at $31.74 on Thursday, MarketBeat Ratings reports. The stock has a market capitalization of $14.69 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 2.30 and a beta of 0.80. TechnipFMC has a 52-week low of $24.53 and a 52-week high of $35.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.28 and a quick ratio of 1.18.

TechnipFMC (NYSE:FTI) last announced its earnings results on Wednesday, May 9th. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.04). TechnipFMC had a net margin of 1.54% and a return on equity of 4.58%. The business had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the previous year, the firm posted $0.26 EPS. The company’s revenue was down 7.8% compared to the same quarter last year. analysts anticipate that TechnipFMC will post 1.4 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 6th. Shareholders of record on Tuesday, May 22nd were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Monday, May 21st. TechnipFMC’s dividend payout ratio is presently 40.31%.

In other news, Director John C. G. Oleary bought 2,000 shares of the firm’s stock in a transaction on Friday, June 15th. The stock was acquired at an average price of $27.53 per share, with a total value of $55,060.00. Following the transaction, the director now owns 12,455 shares of the company’s stock, valued at approximately $342,886.15. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.58% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. First Eagle Investment Management LLC boosted its holdings in shares of TechnipFMC by 0.4% during the 1st quarter. First Eagle Investment Management LLC now owns 34,910,980 shares of the oil and gas company’s stock worth $1,028,128,000 after buying an additional 134,289 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of TechnipFMC by 2.1% during the 1st quarter. BlackRock Inc. now owns 22,858,163 shares of the oil and gas company’s stock worth $673,174,000 after buying an additional 463,654 shares in the last quarter. Platinum Investment Management Ltd. boosted its holdings in shares of TechnipFMC by 6.5% during the 1st quarter. Platinum Investment Management Ltd. now owns 8,825,500 shares of the oil and gas company’s stock worth $259,910,000 after buying an additional 541,000 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of TechnipFMC by 105.7% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,261,787 shares of the oil and gas company’s stock worth $125,510,000 after buying an additional 2,189,893 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of TechnipFMC by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 4,010,482 shares of the oil and gas company’s stock worth $125,259,000 after buying an additional 100,175 shares in the last quarter. Hedge funds and other institutional investors own 63.91% of the company’s stock.

About TechnipFMC

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.

Analyst Recommendations for TechnipFMC (NYSE:FTI)

Receive News & Ratings for TechnipFMC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TechnipFMC and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply