TechnipFMC plc (NYSE:FTI) Stock Has Consensus Price Target of $77.45

TechnipFMC plc (NYSE:FTI) has earned a consensus recommendation of “Buy” from the fourteen research firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $78.18.

FTI has been the subject of several research analyst reports. Wall Street Zen lowered TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Piper Sandler boosted their price target on shares of TechnipFMC from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday. Barclays increased their price target on shares of TechnipFMC from $86.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday. UBS Group started coverage on shares of TechnipFMC in a research report on Monday, October 12th. They set a “buy” rating and a $89.00 price target for the company. Finally, Zacks Research upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th.

Insider Buying and Selling

In related news, insider Thierry Conti sold 6,000 shares of TechnipFMC stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $71.85, for a total value of $431,100.00. Following the sale, the insider owned 85,813 shares of the company’s stock, valued at approximately $6,165,664.05. The trade was a 6.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Mullins purchased 6,365 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the acquisition, the director directly owned 8,070 shares in the company, valued at $633,898.50. This trade represents a 373.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.40% of the stock is owned by corporate insiders.

Institutional Trading of TechnipFMC

A number of large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of TechnipFMC in the second quarter worth about $3,081,514,000. Bank of America Corp DE purchased a new position in TechnipFMC during the second quarter valued at approximately $226,069,000. Bank of New York Mellon Corp purchased a new position in TechnipFMC during the second quarter valued at approximately $173,262,000. Danske Bank A S purchased a new position in TechnipFMC during the second quarter valued at approximately $163,822,000. Finally, Legal & General Group Plc bought a new stake in TechnipFMC during the 2nd quarter worth approximately $149,673,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

Shares of FTI opened at $61.64 on Tuesday. The stock has a 50 day moving average of $71.43 and a 200 day moving average of $69.26. The company has a market capitalization of $23.97 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 1.01 and a beta of 0.89. TechnipFMC has a 12 month low of $41.73 and a 12 month high of $80.70. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.17. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.79 billion. TechnipFMC had a return on equity of 39.82% and a net margin of 12.04%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 earnings per share. As a group, sell-side analysts forecast that TechnipFMC will post 3.28 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Tuesday, November 17th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, November 17th. TechnipFMC’s payout ratio is presently 6.29%.

TechnipFMC Company Profile

TechnipFMC plc (NYSE: FTI) is an energy technology and services company that designs, manufactures and delivers equipment and integrated solutions for the exploration, development and production of oil and natural gas resources. The company serves energy operators, engineering and construction firms, and other participants across the global energy industry.

TechnipFMC operates through two principal areas: Subsea and Surface Technologies. Its subsea business provides subsea production systems, subsea services, installation solutions and related technologies used to develop offshore fields.