TechnipFMC (NYSE:FTI) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

TechnipFMC (NYSE:FTI) announced its earnings results on Thursday. The oil and gas company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06, Briefing.com reports. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.96 billion. TechnipFMC had a return on equity of 9.60% and a net margin of 2.61%. TechnipFMC’s revenue was up 18.9% compared to the same quarter last year. TechnipFMC updated its FY 2024 guidance to EPS.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $26.59 on Friday. The stock’s 50 day moving average is $24.21 and its 200-day moving average is $21.54. TechnipFMC has a twelve month low of $12.64 and a twelve month high of $27.26. The company has a quick ratio of 0.92, a current ratio of 1.16 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $11.62 billion, a price-to-earnings ratio of 56.57 and a beta of 1.65.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.75%. TechnipFMC’s dividend payout ratio is 42.55%.

Analyst Ratings Changes

A number of equities analysts recently commented on FTI shares. Susquehanna lifted their price objective on TechnipFMC from $27.00 to $34.00 and gave the stock a “positive” rating in a research note on Friday. Benchmark reaffirmed a “buy” rating and issued a $30.00 price objective on shares of TechnipFMC in a research note on Friday. TD Cowen increased their price objective on shares of TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday. Bank of America boosted their target price on shares of TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price target for the company. in a report on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, TechnipFMC currently has a consensus rating of “Moderate Buy” and an average price target of $26.07.

Insider Activity at TechnipFMC

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

TechnipFMC Company Profile

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.