TechnipFMC (NYSE:FTI) Announces Quarterly Earnings Results, Beats Expectations By $0.12 EPS

TechnipFMC (NYSE:FTI) issued its quarterly earnings results on Thursday. The oil and gas company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.31 by $0.12, Briefing.com reports. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same period in the prior year, the firm posted $0.10 earnings per share. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. TechnipFMC updated its FY 2024 guidance to EPS.

TechnipFMC Price Performance

Shares of FTI stock traded up $0.49 during trading on Friday, hitting $28.87. The company had a trading volume of 4,889,617 shares, compared to its average volume of 3,669,934. The firm has a market capitalization of $12.44 billion, a P/E ratio of 61.43 and a beta of 1.52. TechnipFMC has a one year low of $17.36 and a one year high of $29.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.10. The stock’s 50-day moving average price is $26.03 and its 200 day moving average price is $24.11.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.69%. TechnipFMC’s dividend payout ratio is presently 42.55%.

Insiders Place Their Bets

In other news, CAO David Light sold 5,928 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $25.81, for a total transaction of $153,001.68. Following the sale, the chief accounting officer now directly owns 11,534 shares of the company’s stock, valued at approximately $297,692.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.06% of the company’s stock.

Analyst Ratings Changes

FTI has been the subject of several analyst reports. Benchmark reissued a “buy” rating and issued a $30.00 target price on shares of TechnipFMC in a research note on Friday, April 26th. Susquehanna boosted their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research note on Friday. Barclays raised their target price on shares of TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Piper Sandler boosted their price target on TechnipFMC from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Finally, Bank of America raised their price objective on TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a research report on Monday, April 15th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and a consensus price target of $28.62.

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.