TechnipFMC plc to Issue Quarterly Dividend of $0.05 (NYSE:FTI)

TechnipFMC plc (NYSE:FTI) declared a quarterly dividend on Wednesday, October 23rd,RTT News reports. Investors of record on Tuesday, November 19th will be paid a dividend of 0.05 per share by the oil and gas company on Wednesday, December 4th. This represents a $0.20 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Tuesday, November 19th.

TechnipFMC has decreased its dividend payment by an average of 8.4% per year over the last three years. TechnipFMC has a payout ratio of 10.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect TechnipFMC to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 10.3%.

TechnipFMC Stock Down 1.1 %

Shares of NYSE FTI opened at $28.18 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The company has a market capitalization of $11.99 billion, a P/E ratio of 18.54 and a beta of 1.51. The company’s 50 day moving average price is $26.54 and its 200-day moving average price is $26.36. TechnipFMC has a 52-week low of $18.33 and a 52-week high of $29.85.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the business earned $0.21 EPS. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. Equities analysts forecast that TechnipFMC will post 1.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Bank of America lifted their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. TD Cowen lifted their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Susquehanna raised their price objective on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $33.60.

TechnipFMC announced that its Board of Directors has approved a share buyback plan on Wednesday, October 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

About TechnipFMC

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.