Susquehanna Issues Pessimistic Forecast for TechnipFMC (NYSE:FTI) Stock Price

by · The Markets Daily

TechnipFMC (NYSE:FTI – Get Free Report) had its target price lowered by research analysts at Susquehanna from $90.00 to $85.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price objective points to a potential upside of 24.56% from the stock’s previous close.

A number of other equities analysts have also issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. Weiss Ratings cut shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, June 23rd. Piper Sandler raised their target price on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. UBS Group set a $80.00 target price on TechnipFMC in a report on Wednesday, June 3rd. Finally, Barclays increased their price target on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and an average target price of $69.64.

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TechnipFMC Trading Up 1.5%

Shares of NYSE FTI opened at $68.24 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. TechnipFMC has a 12-month low of $31.88 and a 12-month high of $77.78. The stock’s 50 day simple moving average is $69.60 and its 200 day simple moving average is $63.74. The company has a market cap of $27.21 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 1.45 and a beta of 0.70.

TechnipFMC (NYSE:FTI – Get Free Report) last posted its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. TechnipFMC’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 EPS. Equities research analysts expect that TechnipFMC will post 2.98 EPS for the current year.

Institutional Investors Weigh In On TechnipFMC

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in TechnipFMC during the first quarter valued at approximately $26,000. Ascentis Independent Advisors bought a new position in shares of TechnipFMC during the 1st quarter valued at $37,000. Harbor Investment Advisory LLC acquired a new stake in shares of TechnipFMC in the 4th quarter valued at $32,000. First Pacific Financial acquired a new position in TechnipFMC during the first quarter worth $52,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of TechnipFMC during the 3rd quarter worth about $32,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

About TechnipFMC

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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.

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