TechnipFMC plc (NYSE:FTI) to Post Q2 2024 Earnings of $0.33 Per Share, Atb Cap Markets Forecasts

TechnipFMC plc (NYSE:FTI) – Analysts at Atb Cap Markets upped their Q2 2024 EPS estimates for TechnipFMC in a research note issued on Tuesday, April 30th. Atb Cap Markets analyst W. Syed now expects that the oil and gas company will post earnings of $0.33 per share for the quarter, up from their previous estimate of $0.30. The consensus estimate for TechnipFMC’s current full-year earnings is $1.16 per share.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.96 billion. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year.

Several other research firms also recently commented on FTI. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research note on Sunday, April 28th. HSBC downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price target on the stock. in a report on Friday, February 23rd. TD Cowen increased their price objective on shares of TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Bank of America raised their price objective on shares of TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a research report on Monday, April 15th. Finally, Barclays upped their target price on shares of TechnipFMC from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and an average target price of $26.72.

TechnipFMC Price Performance

NYSE FTI opened at $25.96 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.87 and a current ratio of 1.16. The business’s fifty day moving average is $24.74 and its 200 day moving average is $21.74. The company has a market capitalization of $11.19 billion, a PE ratio of 55.23 and a beta of 1.62. TechnipFMC has a fifty-two week low of $12.77 and a fifty-two week high of $27.26.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Monday, May 20th. TechnipFMC’s payout ratio is 42.55%.

Insider Activity

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total transaction of $264,809.20. Following the completion of the transaction, the director now owns 103,982 shares in the company, valued at $2,204,418.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.06% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

Large investors have recently added to or reduced their stakes in the stock. Xponance Inc. increased its position in shares of TechnipFMC by 128.1% during the 3rd quarter. Xponance Inc. now owns 34,638 shares of the oil and gas company’s stock valued at $705,000 after purchasing an additional 19,451 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of TechnipFMC by 14.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 12,994 shares of the oil and gas company’s stock valued at $264,000 after acquiring an additional 1,674 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of TechnipFMC by 17.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,829 shares of the oil and gas company’s stock valued at $1,820,000 after acquiring an additional 13,265 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of TechnipFMC by 50.0% in the 3rd quarter. Mackenzie Financial Corp now owns 836,307 shares of the oil and gas company’s stock worth $16,659,000 after acquiring an additional 278,637 shares during the last quarter. Finally, Calamos Wealth Management LLC purchased a new position in shares of TechnipFMC during the 3rd quarter worth about $1,207,000. 96.58% of the stock is owned by institutional investors.

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.