TechnipFMC plc to Post Q3 2024 Earnings of $0.35 Per Share, Capital One Financial Forecasts (NYSE:FTI)

TechnipFMC plc (NYSE:FTI) – Research analysts at Capital One Financial reduced their Q3 2024 EPS estimates for shares of TechnipFMC in a report issued on Thursday, April 25th. Capital One Financial analyst D. Becker now forecasts that the oil and gas company will post earnings of $0.35 per share for the quarter, down from their previous estimate of $0.37. The consensus estimate for TechnipFMC’s current full-year earnings is $1.15 per share. Capital One Financial also issued estimates for TechnipFMC’s Q4 2024 earnings at $0.30 EPS, FY2024 earnings at $1.17 EPS and Q1 2025 earnings at $0.29 EPS.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.96 billion. TechnipFMC had a return on equity of 9.60% and a net margin of 2.61%. TechnipFMC’s revenue for the quarter was up 18.9% on a year-over-year basis.

Several other equities analysts also recently weighed in on the stock. Bank of America raised their price target on shares of TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a research note on Monday, April 15th. TD Cowen increased their price objective on TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday. HSBC cut TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 target price for the company. in a research note on Friday, February 23rd. Susquehanna lifted their price objective on TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a research note on Friday. Finally, Barclays increased their price objective on shares of TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.14.

TechnipFMC Trading Up 0.1 %

Shares of FTI opened at $26.61 on Monday. The firm’s fifty day moving average is $24.35 and its two-hundred day moving average is $21.61. The stock has a market cap of $11.63 billion, a PE ratio of 56.62 and a beta of 1.65. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.30. TechnipFMC has a 52-week low of $12.64 and a 52-week high of $27.26.

Institutional Investors Weigh In On TechnipFMC

A number of institutional investors have recently added to or reduced their stakes in FTI. Inceptionr LLC increased its stake in TechnipFMC by 2.2% in the 4th quarter. Inceptionr LLC now owns 24,612 shares of the oil and gas company’s stock valued at $496,000 after purchasing an additional 540 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in TechnipFMC by 0.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 126,410 shares of the oil and gas company’s stock valued at $2,571,000 after buying an additional 660 shares during the period. Fulton Bank N.A. lifted its position in TechnipFMC by 6.8% during the fourth quarter. Fulton Bank N.A. now owns 10,750 shares of the oil and gas company’s stock valued at $217,000 after buying an additional 683 shares in the last quarter. Janney Capital Management LLC grew its stake in TechnipFMC by 2.8% during the third quarter. Janney Capital Management LLC now owns 26,849 shares of the oil and gas company’s stock worth $546,000 after buying an additional 722 shares during the period. Finally, Dfpg Investments LLC increased its position in shares of TechnipFMC by 2.4% in the fourth quarter. Dfpg Investments LLC now owns 31,360 shares of the oil and gas company’s stock worth $623,000 after acquiring an additional 738 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Insider Activity

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total value of $264,809.20. Following the transaction, the director now directly owns 103,982 shares in the company, valued at approximately $2,204,418.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.93% of the company’s stock.

TechnipFMC Announces Dividend

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

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.