TechnipFMC PLC (NYSE:FTI) Expected to Post Quarterly Sales of $3.69 Billion

Analysts expect that TechnipFMC PLC (NYSE:FTI) will report $3.69 billion in sales for the current quarter, Zacks Investment Research reports. Twenty Six analysts have made estimates for TechnipFMC’s earnings, with the highest sales estimate coming in at $4.15 billion and the lowest estimate coming in at $3.46 billion. TechnipFMC posted sales of $3.32 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.1%. The company is scheduled to report its next earnings report on Wednesday, February 19th.

On average, analysts expect that TechnipFMC will report full-year sales of $13.53 billion for the current financial year, with estimates ranging from $13.14 billion to $13.83 billion. For the next fiscal year, analysts forecast that the firm will report sales of $15.11 billion, with estimates ranging from $14.11 billion to $16.68 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow TechnipFMC.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.38). The company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.54 billion. TechnipFMC had a positive return on equity of 2.11% and a negative net margin of 16.30%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 EPS.

A number of research analysts have issued reports on FTI shares. Wells Fargo & Co set a $30.00 price target on shares of TechnipFMC and gave the stock a “buy” rating in a report on Friday, October 25th. Morgan Stanley decreased their price target on shares of TechnipFMC from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Berenberg Bank cut shares of TechnipFMC from a “buy” rating to a “hold” rating and decreased their price target for the stock from $29.00 to $22.50 in a report on Friday, November 22nd. Royal Bank of Canada set a $30.00 price target on shares of TechnipFMC and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Deutsche Bank initiated coverage on shares of TechnipFMC in a report on Wednesday, November 27th. They set a “buy” rating and a $33.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. TechnipFMC presently has a consensus rating of “Buy” and a consensus price target of $29.27.

Shares of NYSE FTI traded up $0.59 during midday trading on Friday, reaching $19.15. The company had a trading volume of 4,188,081 shares, compared to its average volume of 3,880,067. The business’s 50-day simple moving average is $20.63 and its 200 day simple moving average is $23.34. The stock has a market cap of $8.44 billion, a P/E ratio of 23.35, a P/E/G ratio of 0.62 and a beta of 1.44. TechnipFMC has a 1 year low of $18.20 and a 1 year high of $28.57. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be issued a dividend of $0.13 per share. The ex-dividend date is Monday, November 18th. This represents a $0.52 annualized dividend and a dividend yield of 2.72%.

In other TechnipFMC news, Director Olivier Piou bought 3,000 shares of TechnipFMC stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average price of $19.49 per share, with a total value of $58,470.00. Following the completion of the acquisition, the director now directly owns 3,000 shares in the company, valued at approximately $58,470. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.50% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in FTI. Meeder Asset Management Inc. grew its position in TechnipFMC by 217.7% during the second quarter. Meeder Asset Management Inc. now owns 1,344 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 921 shares during the period. Private Capital Group LLC grew its position in TechnipFMC by 375.0% during the second quarter. Private Capital Group LLC now owns 1,121 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 885 shares during the period. Liberty Wealth Management LLC acquired a new stake in TechnipFMC during the third quarter valued at $37,000. Mizuho Securities Co. Ltd. acquired a new stake in TechnipFMC during the second quarter valued at $39,000. Finally, Rockefeller Capital Management L.P. grew its position in TechnipFMC by 116.3% during the second quarter. Rockefeller Capital Management L.P. now owns 1,728 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 929 shares during the period. Institutional investors own 79.87% 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.

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Earnings History and Estimates for TechnipFMC (NYSE:FTI)

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