FMC Technologies Inc. (FTI) Stock Price Down 2.6%
FMC Technologies Inc. (NYSE:FTI) shares traded down 2.6% during trading on Thursday . The company traded as low as $27.46 and last traded at $27.46, with a volume of 2,582,529 shares changing hands. The stock had previously closed at $28.20.
FTI has been the topic of several analyst reports. Jefferies Group reissued a “hold” rating on shares of FMC Technologies in a report on Sunday, July 10th. Simmons reissued an “overweight” rating and set a $29.00 target price (up from $27.00) on shares of FMC Technologies in a report on Monday, July 25th. FBR & Co reduced their target price on FMC Technologies from $28.00 to $27.00 and set a “mkt perform” rating on the stock in a report on Wednesday, July 27th. Barclays PLC lowered FMC Technologies from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $37.00 to $33.00 in a report on Friday, May 20th. Finally, Nomura set a $26.00 target price on FMC Technologies and gave the stock a “hold” rating in a report on Tuesday, August 16th. Fifteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $32.26.
The company has a 50 day moving average of $26.86 and a 200-day moving average of $27.06. The firm has a market capitalization of $6.28 billion and a price-to-earnings ratio of 39.83.
FMC Technologies (NYSE:FTI) last posted its earnings results 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 period last year, the firm posted $0.52 EPS. The company earned $1.20 billion during the quarter, compared to analyst estimates of $1.26 billion. The firm’s quarterly revenue was down 32.2% compared to the same quarter last year. Equities analysts forecast that FMC Technologies Inc. will post $0.92 EPS for the current fiscal year.
In other news, VP Sanjay Bhatia sold 2,800 shares of the company’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $28.44, for a total value of $79,632.00. Following the completion of the transaction, the vice president now directly owns 48,943 shares in the company, valued at approximately $1,391,938.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
An institutional investor recently raised its position in FMC Technologies stock. KBC Group NV boosted its position in FMC Technologies Inc. (NYSE:FTI) by 59.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,312 shares of the company’s stock after buying an additional 32,078 shares during the period. KBC Group NV’s holdings in FMC Technologies were worth $2,504,000 at the end of the most recent 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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