TechnipFMC (NYSE:FTI) Reaches New 52-Week High – What’s Next?

TechnipFMC plc (NYSE:FTI) reached a new 52-week high on Friday . The stock traded as high as $78.75 and last traded at $78.5470, with a volume of 285556 shares trading hands. The stock had previously closed at $76.67.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FTI shares. Susquehanna decreased their target price on TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Weiss Ratings downgraded shares of TechnipFMC from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, July 31st. Barclays increased their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, UBS Group set a $80.00 target price on shares of TechnipFMC in a report on Wednesday, June 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

TechnipFMC Trading Up 2.7%

The firm has a fifty day moving average of $70.06 and a 200 day moving average of $68.34. The firm has a market capitalization of $30.86 billion, a PE ratio of 27.29, a P/E/G ratio of 1.56 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the prior year, the business earned $0.68 EPS. TechnipFMC’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts expect that TechnipFMC plc will post 3.05 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio is 6.94%.

Institutional Investors Weigh In On TechnipFMC

A number of large investors have recently added to or reduced their stakes in FTI. Fiduciary Financial Advisors purchased a new position in TechnipFMC in the 2nd quarter valued at about $145,000. L2 Asset Management LLC purchased a new stake in shares of TechnipFMC during the second quarter worth about $896,000. Cibc World Market Inc. purchased a new stake in shares of TechnipFMC during the second quarter worth about $11,408,000. OMERS ADMINISTRATION Corp acquired a new position in shares of TechnipFMC in the second quarter worth about $1,430,000. Finally, Osmosis Investment Management UK Ltd acquired a new position in shares of TechnipFMC in the second quarter worth about $454,000. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Company Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.