FY2024 EPS Estimates for TechnipFMC plc (NYSE:FTI) Increased by Griffin Securities

TechnipFMC plc (NYSE:FTI) – Research analysts at Griffin Securities lifted their FY2024 earnings estimates for TechnipFMC in a research report issued on Monday, April 29th. Griffin Securities analyst K. Simpson now forecasts that the oil and gas company will post earnings of $1.20 per share for the year, up from their prior forecast of $1.15. The consensus estimate for TechnipFMC’s current full-year earnings is $1.15 per share. Griffin Securities also issued estimates for TechnipFMC’s Q1 2025 earnings at $0.27 EPS, Q2 2025 earnings at $0.50 EPS, Q4 2025 earnings at $0.47 EPS and FY2025 earnings at $1.75 EPS.

Several other analysts have also recently commented on the stock. HSBC cut shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price objective for the company. in a research note on Friday, February 23rd. Barclays upped their price objective on TechnipFMC from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday. Bank of America lifted 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. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Benchmark restated a “buy” rating and set a $30.00 target price on shares of TechnipFMC in a research report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.72.

TechnipFMC Trading Down 1.1 %

TechnipFMC stock opened at $25.35 on Tuesday. TechnipFMC has a 52 week low of $12.64 and a 52 week high of $27.26. The stock has a 50-day moving average price of $24.46 and a 200 day moving average price of $21.65. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $10.93 billion, a price-to-earnings ratio of 53.94 and a beta of 1.65.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. The business 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 9.57% and a net margin of 2.61%. The business’s revenue was up 18.9% on a year-over-year basis.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FTI. Vanguard Group Inc. increased its position in shares of TechnipFMC by 320.3% during the third quarter. Vanguard Group Inc. now owns 39,788,733 shares of the oil and gas company’s stock valued at $809,303,000 after acquiring an additional 30,323,011 shares during the last quarter. Invesco Ltd. grew its stake in shares of TechnipFMC by 75.7% in the third quarter. Invesco Ltd. now owns 12,969,978 shares of the oil and gas company’s stock valued at $263,809,000 after buying an additional 5,587,050 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of TechnipFMC by 161.9% in the 3rd quarter. American Century Companies Inc. now owns 5,312,079 shares of the oil and gas company’s stock valued at $108,048,000 after buying an additional 3,283,972 shares during the period. Norges Bank purchased a new stake in TechnipFMC during the fourth quarter worth about $61,570,000. Finally, Balyasny Asset Management L.P. lifted its holdings in TechnipFMC by 868.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock worth $63,082,000 after buying an additional 2,808,618 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,204,418.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.93% of the stock is owned by corporate insiders.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be given a dividend of $0.05 per share. The ex-dividend date is Monday, May 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.79%. TechnipFMC’s payout ratio is presently 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.