TechnipFMC (NYSE:FTI) Coverage Initiated at Royal Bank of Canada

Stock analysts at Royal Bank of Canada assumed coverage on shares of TechnipFMC (NYSE:FTI) in a research report issued on Monday, Marketbeat reports. The firm set an “outperform” rating and a $37.00 price target on the oil and gas company’s stock. Royal Bank of Canada’s target price points to a potential upside of 31.30% from the company’s current price.

FTI has been the subject of several other research reports. Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Barclays upped their price objective on shares of TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Susquehanna lifted their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a research note on Friday, October 25th. Bank of America increased their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $33.91.

TechnipFMC Stock Down 1.1 %

NYSE:FTI opened at $28.18 on Monday. The firm has a market capitalization of $11.99 billion, a price-to-earnings ratio of 18.54 and a beta of 1.51. TechnipFMC has a 1-year low of $18.33 and a 1-year high of $29.85. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The business’s fifty day moving average price is $26.54 and its 200 day moving average price is $26.36.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.25. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. TechnipFMC’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period last year, the company earned $0.21 earnings per share. On average, sell-side analysts forecast that TechnipFMC will post 1.55 earnings per share for the current fiscal year.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in TechnipFMC by 8.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock valued at $1,019,337,000 after acquiring an additional 3,259,348 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of TechnipFMC by 0.3% during the first quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock valued at $1,005,652,000 after purchasing an additional 134,880 shares during the last quarter. Hardman Johnston Global Advisors LLC increased its holdings in shares of TechnipFMC by 13.5% in the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock valued at $236,482,000 after purchasing an additional 1,071,103 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in TechnipFMC by 2.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company’s stock worth $228,384,000 after purchasing an additional 204,435 shares during the last quarter. Finally, State Street Corp lifted its holdings in TechnipFMC by 1.7% during the 3rd quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock worth $215,100,000 after buying an additional 133,775 shares in the last quarter. 96.58% of the stock is owned by institutional investors.

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.