TechnipFMC (NYSE:FTI) Hits New 12-Month High at $21.26

TechnipFMC plc (NYSE:FTI)’s stock price reached a new 52-week high on Monday . The company traded as high as $21.26 and last traded at $21.19, with a volume of 293141 shares changing hands. The stock had previously closed at $21.03.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FTI shares. Citigroup increased their target price on shares of TechnipFMC from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, August 15th. BTIG Research increased their target price on shares of TechnipFMC from $18.00 to $23.00 in a research report on Monday, June 26th. Capital One Financial restated an “overweight” rating and set a $22.00 price target on shares of TechnipFMC in a report on Friday, July 14th. StockNews.com began coverage on TechnipFMC in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, HSBC increased their price target on TechnipFMC from $13.80 to $23.20 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, TechnipFMC has a consensus rating of “Moderate Buy” and a consensus target price of $20.56.

TechnipFMC Stock Up 0.2 %

The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.92 and a current ratio of 1.18. The company has a market cap of $9.23 billion, a price-to-earnings ratio of -70.10 and a beta of 1.82. The stock’s fifty day moving average is $18.25 and its two-hundred day moving average is $15.54.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). TechnipFMC had a positive return on equity of 1.15% and a negative net margin of 1.89%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the company earned $0.02 EPS. The company’s revenue was up 12.2% on a year-over-year basis. Sell-side analysts predict that TechnipFMC plc will post 0.45 earnings per share for the current fiscal year.

TechnipFMC Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 22nd were issued a $0.05 dividend. The ex-dividend date was Monday, August 21st. This represents a $0.20 annualized dividend and a dividend yield of 0.95%. TechnipFMC’s dividend payout ratio is currently -66.67%.

TechnipFMC announced that its Board of Directors has initiated a share buyback program on Wednesday, July 26th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the oil and gas company to purchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On TechnipFMC

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its stake in TechnipFMC by 382.9% in the 2nd quarter. Bessemer Group Inc. now owns 1,975 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 1,566 shares during the last quarter. Global Retirement Partners LLC increased its stake in TechnipFMC by 52.1% in the 1st quarter. Global Retirement Partners LLC now owns 2,728 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 934 shares during the last quarter. Covestor Ltd purchased a new stake in TechnipFMC in the 2nd quarter valued at about $42,000. Captrust Financial Advisors increased its stake in shares of TechnipFMC by 65.1% during the 2nd quarter. Captrust Financial Advisors now owns 7,461 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 2,943 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of TechnipFMC during the 1st quarter worth approximately $51,000. Hedge funds and other institutional investors own 98.79% of the company’s stock.

About TechnipFMC

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.