Shares of TechnipFMC PLC (NYSE:FTI) have been given an average rating of “Buy” by the twenty research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $16.01.
A number of brokerages have commented on FTI. ValuEngine raised TechnipFMC from a “hold” rating to a “buy” rating in a report on Thursday, July 2nd. Morgan Stanley boosted their target price on TechnipFMC from $8.00 to $9.30 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Jefferies Financial Group downgraded TechnipFMC from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $7.00 to $6.00 in a research note on Thursday, May 14th. Barclays dropped their price objective on TechnipFMC from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. Finally, Societe Generale downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research report on Tuesday, April 21st.
A number of institutional investors have recently added to or reduced their stakes in FTI. Comerica Bank increased its stake in TechnipFMC by 12.7% during the 2nd quarter. Comerica Bank now owns 68,194 shares of the oil and gas company’s stock valued at $535,000 after purchasing an additional 7,694 shares in the last quarter. ARGA Investment Management LP increased its position in TechnipFMC by 7,625.7% during the second quarter. ARGA Investment Management LP now owns 3,798,653 shares of the oil and gas company’s stock worth $25,983,000 after purchasing an additional 3,749,484 shares during the last quarter. Pzena Investment Management LLC increased its position in TechnipFMC by 50.3% during the second quarter. Pzena Investment Management LLC now owns 18,371,705 shares of the oil and gas company’s stock worth $125,662,000 after purchasing an additional 6,151,054 shares during the last quarter. Lapides Asset Management LLC increased its position in shares of TechnipFMC by 298.9% during the second quarter. Lapides Asset Management LLC now owns 300,800 shares of the oil and gas company’s stock valued at $2,057,000 after acquiring an additional 225,400 shares during the last quarter. Finally, Northeast Financial Consultants Inc acquired a new position in shares of TechnipFMC in the second quarter valued at approximately $182,000. 77.67% of the stock is owned by institutional investors.
TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.04 billion. TechnipFMC had a positive return on equity of 0.93% and a negative net margin of 42.22%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS. On average, equities research analysts predict that TechnipFMC will post 0.26 earnings per share for the current fiscal year.
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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