FMC Technologies Inc. (FTI) Sees Unusually-High Trading Volume
FMC Technologies Inc. (NYSE:FTI) shares saw unusually-strong trading volume on Thursday . Approximately 3,719,220 shares changed hands during mid-day trading, an increase of 24% from the previous session’s volume of 2,996,954 shares.The stock last traded at $27.16 and had previously closed at $27.74.
A number of research analysts have recently issued reports on FTI shares. Susquehanna dropped their target price on FMC Technologies from $34.00 to $32.00 in a report on Tuesday, April 12th. Capital One Financial Corp. decreased their price target on FMC Technologies to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, March 25th. Nomura Holdings Inc. initiated coverage on FMC Technologies in a research note on Friday, April 8th. They issued a “neutral” rating and a $26.00 price target on the stock. Citigroup Inc. restated a “neutral” rating and issued a $29.00 price target on shares of FMC Technologies in a research note on Saturday, June 25th. Finally, Barclays PLC downgraded FMC Technologies to a “neutral” rating and set a $33.00 price target on the stock. in a research note on Thursday, May 26th. Twenty analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $32.82.
The stock’s 50 day moving average price is $26.93 and its 200-day moving average price is $26.63. The company has a market capitalization of $6.15 billion and a price-to-earnings ratio of 23.52.
FMC Technologies (NYSE:FTI) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.30 by $0.08. During the same period in the previous year, the company posted $0.52 earnings per share. The firm earned $1.20 billion during the quarter, compared to analyst estimates of $1.26 billion. The firm’s quarterly revenue was down 32.2% on a year-over-year basis. Equities research analysts expect that FMC Technologies Inc. will post $1.07 EPS for the current year.
Other large investors recently added to or reduced their stakes in the company. Sei Investments Co. raised its stake in FMC Technologies by 146.3% in the fourth quarter. Sei Investments Co. now owns 45,936 shares of the company’s stock valued at $1,332,000 after buying an additional 27,282 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of FMC Technologies by 1.8% in the fourth quarter. California Public Employees Retirement System now owns 618,100 shares of the company’s stock valued at $17,931,000 after buying an additional 11,000 shares during the period. ProShare Advisors LLC boosted its stake in shares of FMC Technologies by 5.0% in the fourth quarter. ProShare Advisors LLC now owns 51,039 shares of the company’s stock valued at $1,481,000 after buying an additional 2,450 shares during the period. Comerica Bank boosted its stake in shares of FMC Technologies by 23.4% in the fourth quarter. Comerica Bank now owns 141,144 shares of the company’s stock valued at $3,670,000 after buying an additional 26,810 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in shares of FMC Technologies by 7.5% in the fourth quarter. New York State Common Retirement Fund now owns 569,500 shares of the company’s stock valued at $16,521,000 after buying an additional 39,600 shares during the period.
FMC Technologies, Inc is a global provider of technology solutions for the energy industry. The Company designs, manufactures and services a range of systems and products, including subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems.
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