TechnipFMC (NYSE:FTI) Reaches New 1-Year High – Here’s Why

TechnipFMC plc (NYSE:FTI) hit a new 52-week high during trading on Thursday . The company traded as high as $30.01 and last traded at $29.89, with a volume of 1385981 shares trading hands. The stock had previously closed at $29.00.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FTI. Royal Bank of Canada began coverage on shares of TechnipFMC in a report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price objective for the company. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Citigroup increased their target price on TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Barclays lifted their price target on TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Finally, HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, TechnipFMC currently has an average rating of “Buy” and a consensus target price of $33.91.

TechnipFMC Stock Performance

The company has a 50-day simple moving average of $27.10 and a two-hundred day simple moving average of $26.48. 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 firm has a market capitalization of $13.12 billion, a P/E ratio of 20.28 and a beta of 1.51.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.25. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 earnings per share. As a group, equities analysts forecast that TechnipFMC plc will post 1.56 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.65%. TechnipFMC’s dividend payout ratio (DPR) is currently 13.16%.

TechnipFMC declared that its Board of Directors has authorized 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 buy up to 9.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Trading of TechnipFMC

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. boosted its holdings in TechnipFMC by 203.6% in the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 735 shares in the last quarter. ORG Wealth Partners LLC bought a new position in TechnipFMC in the 3rd quarter worth about $30,000. GAMMA Investing LLC grew its position in TechnipFMC by 73.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 492 shares during the last quarter. ORG Partners LLC bought a new stake in TechnipFMC during the 2nd quarter valued at about $33,000. Finally, Crewe Advisors LLC purchased a new position in TechnipFMC in the second quarter worth about $51,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

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.