FMC Technologies Inc. (FTI) Shares Gap Down to $26.55
FMC Technologies Inc. (NYSE:FTI) shares gapped down prior to trading on Friday . The stock had previously closed at $26.54, but opened at $26.55. FMC Technologies shares last traded at $26.70, with a volume of 2,435,540 shares changing hands.
A number of research analysts have recently commented on the company. Jefferies Group reiterated a “hold” rating on shares of FMC Technologies in a research note on Friday, August 5th. FBR & Co dropped their price target on FMC Technologies from $28.00 to $27.00 and set a “mkt perform” rating for the company in a research note on Wednesday, July 27th. Scotiabank reiterated a “sector outperform” rating and issued a $32.00 price target (down from $35.00) on shares of FMC Technologies in a research note on Tuesday, July 26th. Simmons reiterated an “overweight” rating and issued a $29.00 price target (up from $27.00) on shares of FMC Technologies in a research note on Monday, July 25th. Finally, Howard Weil decreased their price objective on FMC Technologies from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Monday, July 25th. Sixteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $31.90.
The firm has a market cap of $6.04 billion and a price-to-earnings ratio of 38.30. The firm’s 50-day moving average is $26.09 and its 200 day moving average is $26.63.
FMC Technologies (NYSE:FTI) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by $0.08. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the firm earned $0.52 EPS. The company’s revenue for the quarter was down 32.2% on a year-over-year basis. Equities analysts expect that FMC Technologies Inc. will post $0.93 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the stock. Calvert Investment Management Inc. boosted its position in FMC Technologies by 106.4% in the fourth quarter. Calvert Investment Management Inc. now owns 155,569 shares of the company’s stock worth $4,513,000 after buying an additional 80,196 shares during the last quarter. Bridgewater Associates LP boosted its position in FMC Technologies by 985.3% in the fourth quarter. Bridgewater Associates LP now owns 209,423 shares of the company’s stock worth $6,075,000 after buying an additional 190,127 shares during the last quarter. Airain ltd purchased a new position in FMC Technologies during the fourth quarter worth about $3,775,000. KBC Group NV boosted its position in FMC Technologies by 59.1% in the fourth quarter. KBC Group NV now owns 86,312 shares of the company’s stock worth $2,504,000 after buying an additional 32,078 shares during the last quarter. Finally, TrimTabs Asset Management LLC boosted its position in FMC Technologies by 1.9% in the fourth quarter. TrimTabs Asset Management LLC now owns 70,358 shares of the company’s stock worth $2,041,000 after buying an additional 1,311 shares during 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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