FMC Technologies Inc. (FTI) Sees Strong Trading Volume
FMC Technologies Inc. (NYSE:FTI) shares saw unusually-high trading volume on Friday . Approximately 3,877,704 shares were traded during trading, an increase of 11% from the previous session’s volume of 3,480,258 shares.The stock last traded at $28.76 and had previously closed at $28.55.
FTI has been the subject of a number of recent research reports. Simmons reiterated an “overweight” rating and set a $29.00 price objective (up previously from $27.00) on shares of FMC Technologies in a research report on Monday, July 25th. Jefferies Group reiterated a “hold” rating on shares of FMC Technologies in a research report on Friday, August 5th. Citigroup Inc. reiterated a “neutral” rating and set a $29.00 price objective on shares of FMC Technologies in a research report on Saturday, June 25th. FBR & Co cut their price objective on FMC Technologies from $28.00 to $27.00 and set a “mkt perform” rating for the company in a research report on Wednesday, July 27th. Finally, Barclays PLC downgraded FMC Technologies from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $37.00 to $33.00 in a research report on Friday, May 20th. Sixteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $31.90.
The company has a market capitalization of $6.50 billion and a price-to-earnings ratio of 41.24. The firm’s 50 day moving average is $26.41 and its 200-day moving average is $26.76.
FMC Technologies (NYSE:FTI) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.30 by $0.08. During the same quarter in the prior year, the company earned $0.52 earnings per share. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.26 billion. The company’s quarterly revenue was down 32.2% compared to the same quarter last year. On average, equities analysts forecast that FMC Technologies Inc. will post $0.93 EPS for the current year.
A number of large investors recently bought and sold shares of FTI. Airain ltd bought a new stake in FMC Technologies during the fourth quarter valued at approximately $3,775,000. Jennison Associates LLC boosted its stake in shares of 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 during the period. Marshall Wace LLP acquired a new stake in shares of FMC Technologies during the fourth quarter valued at approximately $1,990,000. Finally, KBC Group NV boosted its stake in shares of 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 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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