Capital One Financial Weighs in on TechnipFMC plc’s Q2 2024 Earnings (NYSE:FTI)

TechnipFMC plc (NYSE:FTI) – Capital One Financial upped their Q2 2024 EPS estimates for TechnipFMC in a note issued to investors on Tuesday, April 23rd. Capital One Financial analyst D. Becker now anticipates that the oil and gas company will post earnings of $0.32 per share for the quarter, up from their previous estimate of $0.30. The consensus estimate for TechnipFMC’s current full-year earnings is $1.15 per share. Capital One Financial also issued estimates for TechnipFMC’s FY2024 earnings at $1.16 EPS, Q2 2025 earnings at $0.49 EPS and FY2025 earnings at $1.88 EPS.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. TechnipFMC had a net margin of 0.72% and a return on equity of 6.37%. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.96 billion. The business’s quarterly revenue was up 18.9% compared to the same quarter last year.

A number of other brokerages have also weighed in on FTI. Bank of America raised their price objective on shares of TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a report on Monday, April 15th. StockNews.com lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Benchmark reaffirmed a “buy” rating and issued a $30.00 target price on shares of TechnipFMC in a research report on Friday. HSBC downgraded shares of 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. Finally, TD Cowen increased their target price on shares of TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.07.

TechnipFMC Stock Performance

Shares of FTI stock opened at $26.59 on Thursday. The firm’s 50 day moving average price is $24.21 and its 200-day moving average price is $21.54. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.92 and a current ratio of 1.16. TechnipFMC has a one year low of $12.64 and a one year high of $27.26. The firm has a market cap of $11.62 billion, a P/E ratio of 221.58 and a beta of 1.65.

Hedge Funds Weigh In On TechnipFMC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust acquired a new position in TechnipFMC during the third quarter worth about $29,000. Johnson Financial Group Inc. purchased a new stake in shares of TechnipFMC during the fourth quarter worth about $33,000. Quarry LP grew its holdings in shares of TechnipFMC by 76.6% during the fourth quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock worth $36,000 after buying an additional 768 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of TechnipFMC during the fourth quarter worth about $45,000. Finally, Systematic Alpha Investments LLC purchased a new stake in shares of TechnipFMC during the third quarter worth about $146,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Activity at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.20, for a total transaction of $264,809.20. Following the completion of the transaction, the director now owns 103,982 shares in the company, valued at $2,204,418.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.06% of the company’s stock.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Monday, May 20th. TechnipFMC’s dividend payout ratio (DPR) is 166.67%.

About TechnipFMC

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.