TechnipFMC (NYSE:FTI) Shares Down 5.4%

TechnipFMC plc (NYSE:FTIGet Rating)’s share price dropped 5.4% on Monday . The stock traded as low as $7.66 and last traded at $7.75. Approximately 29,096 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 10,574,784 shares. The stock had previously closed at $8.19.

FTI has been the subject of several analyst reports. Kepler Capital Markets raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Monday, February 28th. Societe Generale raised shares of TechnipFMC from a “hold” rating to a “buy” rating and increased their price target for the company from $7.57 to $10.00 in a research note on Tuesday, April 19th. Finally, StockNews.com initiated coverage on shares of TechnipFMC in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $10.50.

The company has a fifty day moving average of $7.49. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.39 and a quick ratio of 1.12. The company has a market cap of $3.39 billion, a PE ratio of 374.50 and a beta of 1.98.

TechnipFMC (NYSE:FTIGet Rating) last released its earnings results on Wednesday, February 23rd. The oil and gas company reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.11). The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.59 billion. TechnipFMC had a negative return on equity of 3.40% and a net margin of 0.21%. TechnipFMC’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 earnings per share. On average, research analysts forecast that TechnipFMC plc will post 0.17 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in FTI. OLD Mission Capital LLC acquired a new stake in TechnipFMC during the 3rd quarter worth approximately $131,000. WINTON GROUP Ltd acquired a new stake in shares of TechnipFMC in the 3rd quarter valued at $155,000. Baker Tilly Wealth Management LLC raised its holdings in shares of TechnipFMC by 40.2% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 29,543 shares of the oil and gas company’s stock valued at $222,000 after purchasing an additional 8,476 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of TechnipFMC by 31.6% in the 3rd quarter. Van ECK Associates Corp now owns 17,339,538 shares of the oil and gas company’s stock valued at $130,567,000 after purchasing an additional 4,166,307 shares in the last quarter. Finally, Versor Investments LP raised its holdings in shares of TechnipFMC by 5.8% in the 3rd quarter. Versor Investments LP now owns 33,100 shares of the oil and gas company’s stock valued at $249,000 after purchasing an additional 1,800 shares in the last quarter. Institutional investors own 88.59% of the company’s stock.

TechnipFMC Company Profile (NYSE:FTI)

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. 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.

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