Brokers Issue Forecasts for TechnipFMC plc’s FY2024 Earnings (NYSE:FTI)

TechnipFMC plc (NYSE:FTIFree Report) – Equities research analysts at Zacks Research boosted their FY2024 earnings per share (EPS) estimates for shares of TechnipFMC in a research note issued to investors on Friday, March 22nd. Zacks Research analyst N. Choudhury now anticipates that the oil and gas company will post earnings of $1.11 per share for the year, up from their previous forecast of $1.10. The consensus estimate for TechnipFMC’s current full-year earnings is $1.16 per share. Zacks Research also issued estimates for TechnipFMC’s Q4 2025 earnings at $0.42 EPS, FY2025 earnings at $1.65 EPS and FY2026 earnings at $1.93 EPS.

TechnipFMC (NYSE:FTIGet Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The oil and gas company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.90 billion. TechnipFMC had a net margin of 0.72% and a return on equity of 6.37%. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) earnings per share.

Other analysts have also issued research reports about the company. StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a report on Monday. Barclays increased their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. TD Cowen upped their price target on TechnipFMC from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Susquehanna raised their price objective on TechnipFMC from $25.00 to $27.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Finally, HSBC lowered TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 target price on the stock. in a research report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, TechnipFMC currently has a consensus rating of “Moderate Buy” and an average price target of $24.74.

Read Our Latest Report on FTI

TechnipFMC Price Performance

NYSE FTI opened at $25.35 on Monday. The firm has a market capitalization of $11.08 billion, a PE ratio of 211.23 and a beta of 1.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.16 and a quick ratio of 0.92. TechnipFMC has a 12 month low of $12.55 and a 12 month high of $25.71. The company’s 50 day simple moving average is $21.08 and its 200 day simple moving average is $20.65.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Tuesday, March 19th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.79%. TechnipFMC’s payout ratio is presently 166.68%.

Insider Transactions at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $21.20, for a total value of $264,809.20. Following the completion of the sale, the director now directly owns 103,982 shares in the company, valued at $2,204,418.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On TechnipFMC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FTI. Syntal Capital Partners LLC acquired a new stake in TechnipFMC in the 3rd quarter valued at about $665,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of TechnipFMC during the 3rd quarter valued at approximately $739,000. AXQ Capital LP acquired a new position in shares of TechnipFMC during the third quarter worth $1,037,000. Vanguard Group Inc. raised its position in TechnipFMC by 320.3% in the third quarter. Vanguard Group Inc. now owns 39,788,733 shares of the oil and gas company’s stock valued at $809,303,000 after purchasing an additional 30,323,011 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in TechnipFMC by 4,326.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,466,063 shares of the oil and gas company’s stock worth $29,820,000 after acquiring an additional 1,432,940 shares during the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

About TechnipFMC

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TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. 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.

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Earnings History and Estimates for TechnipFMC (NYSE:FTI)

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