TechnipFMC (NYSE:FTI) – Investment analysts at Griffin Securities reduced their Q2 2018 earnings per share estimates for shares of TechnipFMC in a note issued to investors on Monday, May 14th. Griffin Securities analyst K. Simpson now anticipates that the oil and gas company will post earnings of $0.32 per share for the quarter, down from their prior estimate of $0.34. Griffin Securities also issued estimates for TechnipFMC’s Q3 2018 earnings at $0.31 EPS and Q4 2018 earnings at $0.38 EPS.
Other analysts have also recently issued reports about the company. Susquehanna Bancshares set a $39.00 price objective on TechnipFMC and gave the company a “buy” rating in a research note on Friday, April 13th. Barclays reiterated a “hold” rating and issued a $32.00 price objective on shares of TechnipFMC in a research note on Tuesday, February 27th. ValuEngine cut TechnipFMC from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. DNB Markets upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, May 11th. Finally, Macquarie upgraded TechnipFMC from a “neutral” rating to an “outperform” rating in a research note on Monday, April 23rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. TechnipFMC presently has a consensus rating of “Hold” and an average price target of $33.36.
TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Wednesday, May 9th. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). The company had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.11 billion. TechnipFMC had a net margin of 1.54% and a return on equity of 4.58%. The firm’s revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.26 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 6th. Investors of record on Tuesday, May 22nd will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.53%. The ex-dividend date is Monday, May 21st. TechnipFMC’s dividend payout ratio (DPR) is presently 40.31%.
In other TechnipFMC news, EVP Dianne B. Ralston sold 16,650 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $29.99, for a total transaction of $499,333.50. Following the transaction, the executive vice president now owns 105,105 shares of the company’s stock, valued at $3,152,098.95. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard A. Pattarozzi sold 18,500 shares of the firm’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $30.83, for a total value of $570,355.00. Following the transaction, the director now directly owns 80,581 shares in the company, valued at approximately $2,484,312.23. The disclosure for this sale can be found here. Insiders sold 47,150 shares of company stock worth $1,429,809 in the last three months. 0.86% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of FTI. Millennium Management LLC grew its holdings in shares of TechnipFMC by 467.1% during the first quarter. Millennium Management LLC now owns 3,285,215 shares of the oil and gas company’s stock worth $96,750,000 after purchasing an additional 2,705,915 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of TechnipFMC by 105.7% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,261,787 shares of the oil and gas company’s stock worth $125,510,000 after purchasing an additional 2,189,893 shares during the last quarter. APG Asset Management N.V. grew its holdings in shares of TechnipFMC by 16.5% during the fourth quarter. APG Asset Management N.V. now owns 8,455,789 shares of the oil and gas company’s stock worth $220,479,000 after purchasing an additional 1,198,300 shares during the last quarter. Sirios Capital Management L P purchased a new position in shares of TechnipFMC during the fourth quarter worth about $37,133,000. Finally, BlackRock Inc. grew its holdings in shares of TechnipFMC by 4.7% during the fourth quarter. BlackRock Inc. now owns 22,394,509 shares of the oil and gas company’s stock worth $701,171,000 after purchasing an additional 1,013,425 shares during the last quarter. 66.51% of the stock is currently owned by institutional investors.
TechnipFMC Company Profile
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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