TechnipFMC (FTI) Hits New 52-Week Low at $21.43

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TechnipFMC PLC (NYSE:FTI) reached a new 52-week low during trading on Thursday . The company traded as low as $21.43 and last traded at $21.59, with a volume of 6879392 shares. The stock had previously closed at $23.51.

FTI has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Thursday, August 16th. JPMorgan Chase & Co. raised their target price on shares of TechnipFMC from $36.00 to $39.00 and gave the stock an “overweight” rating in a research note on Monday, September 17th. Societe Generale upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Wednesday, October 10th. Cowen restated a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a research note on Friday, October 12th. Finally, Royal Bank of Canada set a $32.00 target price on shares of TechnipFMC and gave the stock a “buy” rating in a research note on Friday, October 26th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $36.24.

The stock has a market cap of $10.12 billion, a PE ratio of 16.28, a P/E/G ratio of 1.44 and a beta of 1.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 1.33.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.07). TechnipFMC had a net margin of 1.42% and a return on equity of 3.76%. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.22 billion. As a group, equities analysts expect that TechnipFMC PLC will post 1.31 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 5th. Investors of record on Tuesday, November 20th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Monday, November 19th. TechnipFMC’s dividend payout ratio is presently 10.08%.

A number of institutional investors and hedge funds have recently made changes to their positions in FTI. Pinebridge Investments L.P. increased its position in TechnipFMC by 270.1% in the second quarter. Pinebridge Investments L.P. now owns 3,775 shares of the oil and gas company’s stock worth $120,000 after purchasing an additional 2,755 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in TechnipFMC in the second quarter worth $143,000. Dai Ichi Life Insurance Company Ltd bought a new stake in TechnipFMC in the second quarter worth $210,000. Putnam Investments LLC bought a new stake in TechnipFMC in the second quarter worth $210,000. Finally, Chicago Equity Partners LLC bought a new stake in TechnipFMC in the second quarter worth $239,000. Institutional investors own 64.83% of the company’s stock.

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TechnipFMC Company Profile (NYSE:FTI)

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.

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