Susquehanna Raises TechnipFMC (NYSE:FTI) Price Target to $40.00

TechnipFMC (NYSE:FTI) had its price objective boosted by analysts at Susquehanna from $35.00 to $40.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price objective would indicate a potential upside of 15.54% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. Barclays boosted their price target on shares of TechnipFMC from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $37.00 price objective on shares of TechnipFMC in a report on Monday, April 28th. Sanford C. Bernstein downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating and set a $32.00 target price for the company. in a research note on Thursday, May 22nd. Finally, Wall Street Zen cut TechnipFMC from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.85.

TechnipFMC Stock Performance

Shares of FTI stock opened at $34.62 on Tuesday. TechnipFMC has a 52-week low of $22.12 and a 52-week high of $35.71. The stock’s 50-day moving average price is $31.73 and its 200 day moving average price is $30.01. The company has a quick ratio of 0.84, a current ratio of 1.07 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $14.51 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.19 and a beta of 1.07.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.26 billion. TechnipFMC had a return on equity of 27.01% and a net margin of 8.93%. TechnipFMC’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 EPS. As a group, equities research analysts forecast that TechnipFMC will post 1.63 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FTI. Kera Capital Partners Inc. acquired a new position in TechnipFMC during the second quarter worth about $244,000. Strs Ohio acquired a new position in shares of TechnipFMC during the 1st quarter worth approximately $8,113,000. Geneos Wealth Management Inc. lifted its stake in TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 340 shares in the last quarter. Focus Partners Wealth grew its holdings in TechnipFMC by 27.2% during the 1st quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock valued at $764,000 after buying an additional 5,161 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in TechnipFMC by 4.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,139,326 shares of the oil and gas company’s stock valued at $36,105,000 after buying an additional 53,206 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

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.