FMC Technologies Inc. (FTI) Trading Up 3.7%
FMC Technologies Inc. (NYSE:FTI) shares were up 3.7% during mid-day trading on Thursday . The company traded as high as $28.69 and last traded at $28.58, with a volume of 2,105,532 shares traded. The stock had previously closed at $27.55.
A number of research analysts have issued reports on FTI shares. Barclays PLC lowered FMC Technologies to a “neutral” rating and set a $33.00 price target for the company. in a research report on Thursday, May 26th. Cowen and Company reiterated an “outperform” rating and set a $35.00 price target (up previously from $29.00) on shares of FMC Technologies in a research report on Thursday, April 28th. Simmons reissued an “overweight” rating and issued a $29.00 price objective (up previously from $27.00) on shares of FMC Technologies in a research note on Monday, July 25th. Jefferies Group set a $29.00 price objective on FMC Technologies and gave the stock a “hold” rating in a research note on Wednesday, July 20th. Finally, Royal Bank Of Canada boosted their price objective on FMC Technologies from $29.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 28th. Sixteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $31.90.
The firm has a market capitalization of $6.50 billion and a price-to-earnings ratio of 41.24. The firm has a 50-day moving average of $26.41 and a 200-day moving average of $26.76.
FMC Technologies (NYSE:FTI) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.08. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The company earned $1.20 billion during the quarter, compared to analyst estimates of $1.26 billion. The company’s revenue for the quarter was down 32.2% compared to the same quarter last year. Equities analysts forecast that FMC Technologies Inc. will post $0.93 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP purchased a new stake in FMC Technologies during the fourth quarter valued at about $1,990,000. KBC Group NV increased its stake in FMC Technologies by 59.1% in the fourth quarter. KBC Group NV now owns 86,312 shares of the company’s stock valued at $2,504,000 after buying an additional 32,078 shares in the last quarter. Airain ltd purchased a new stake in FMC Technologies during the fourth quarter valued at about $3,775,000. Finally, Jennison Associates LLC increased its stake in FMC Technologies by 4.6% in the fourth quarter. Jennison Associates LLC now owns 1,729,825 shares of the company’s stock valued at $50,182,000 after buying an additional 76,423 shares in the last quarter.
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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