TechnipFMC PLC (NYSE:FTI) Expected to Announce Quarterly Sales of $3.27 Billion

Equities research analysts predict that TechnipFMC PLC (NYSE:FTI) will post sales of $3.27 billion for the current fiscal quarter, Zacks reports. Twenty Four analysts have issued estimates for TechnipFMC’s earnings, with estimates ranging from $3.04 billion to $3.50 billion. TechnipFMC posted sales of $2.96 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.5%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, July 24th.

On average, analysts expect that TechnipFMC will report full year sales of $13.26 billion for the current year, with estimates ranging from $13.04 billion to $13.76 billion. For the next year, analysts anticipate that the business will post sales of $14.21 billion, with estimates ranging from $12.94 billion to $16.07 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for TechnipFMC.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.24). TechnipFMC had a positive return on equity of 2.23% and a negative net margin of 16.17%. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period last year, the company posted $0.28 earnings per share. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis.

A number of brokerages recently weighed in on FTI. Barclays decreased their price target on shares of TechnipFMC from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 15th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $29.00 price target on shares of TechnipFMC in a research report on Monday, April 29th. ValuEngine raised shares of TechnipFMC from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Wells Fargo & Co upped their price target on shares of TechnipFMC from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Finally, HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $23.45 price target for the company in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $31.80.

Shares of TechnipFMC stock opened at $24.85 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.17 and a quick ratio of 1.03. TechnipFMC has a twelve month low of $18.20 and a twelve month high of $33.60. The firm has a market cap of $10.74 billion, a P/E ratio of 30.30, a price-to-earnings-growth ratio of 3.06 and a beta of 1.31.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st were issued a $0.13 dividend. The ex-dividend date was Monday, May 20th. This represents a $0.52 dividend on an annualized basis and a yield of 2.09%.

Hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC raised its stake in shares of TechnipFMC by 6.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 8,400 shares of the oil and gas company’s stock valued at $198,000 after purchasing an additional 514 shares in the last quarter. Stifel Financial Corp raised its stake in shares of TechnipFMC by 1.8% in the 4th quarter. Stifel Financial Corp now owns 29,130 shares of the oil and gas company’s stock valued at $568,000 after purchasing an additional 523 shares in the last quarter. Mason Street Advisors LLC raised its stake in shares of TechnipFMC by 1.2% in the 1st quarter. Mason Street Advisors LLC now owns 60,700 shares of the oil and gas company’s stock valued at $1,428,000 after purchasing an additional 715 shares in the last quarter. Moors & Cabot Inc. raised its stake in shares of TechnipFMC by 3.9% in the 1st quarter. Moors & Cabot Inc. now owns 21,445 shares of the oil and gas company’s stock valued at $504,000 after purchasing an additional 800 shares in the last quarter. Finally, CSat Investment Advisory L.P. raised its stake in shares of TechnipFMC by 149.9% in the 4th quarter. CSat Investment Advisory L.P. now owns 1,447 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 868 shares in the last quarter. Hedge funds and other institutional investors own 72.28% of the company’s stock.

TechnipFMC Company Profile

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.

Further Reading: What is a conference call?

Get a free copy of the Zacks research report on TechnipFMC (FTI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for TechnipFMC (NYSE:FTI)

Receive News & Ratings for TechnipFMC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TechnipFMC and related companies with MarketBeat.com's FREE daily email newsletter.