TechnipFMC (NYSE:FTI) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

TechnipFMC (NYSE:FTI) issued its earnings results on Thursday. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06, Briefing.com reports. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.96 billion. TechnipFMC had a net margin of 0.72% and a return on equity of 6.37%. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. TechnipFMC updated its FY 2024 guidance to EPS.

TechnipFMC Stock Performance

NYSE:FTI remained flat at $26.59 during midday trading on Friday. 3,542,393 shares of the company were exchanged, compared to its average volume of 4,713,927. TechnipFMC has a 12 month low of $12.64 and a 12 month high of $27.26. The firm has a 50-day moving average price of $24.07 and a 200-day moving average price of $21.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.16 and a quick ratio of 0.92. The company has a market cap of $11.62 billion, a PE ratio of 222.10 and a beta of 1.65.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.75%. TechnipFMC’s payout ratio is 166.68%.

Insider Activity at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total transaction of $264,809.20. Following the completion of the sale, the director now owns 103,982 shares of the company’s stock, valued at $2,204,418.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on FTI shares. Susquehanna boosted their price target on shares of TechnipFMC from $27.00 to $34.00 and gave the stock a “positive” rating in a research note on Friday. Benchmark reiterated a “buy” rating and issued a $30.00 price target on shares of TechnipFMC in a research note on Friday. StockNews.com cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. TD Cowen upped their target price on shares of TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays upped their price target on shares of TechnipFMC from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $26.07.

About TechnipFMC

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.