TechnipFMC plc (NYSE:FTI) to Issue $0.05 Quarterly Dividend

TechnipFMC plc (NYSE:FTI) announced a quarterly dividend on Wednesday, October 23rd,RTT News reports. Shareholders of record on Tuesday, November 19th will be given a dividend of 0.05 per share by the oil and gas company on Wednesday, December 4th. This represents a $0.20 annualized dividend and a yield of 0.71%. The ex-dividend date is Tuesday, November 19th.

TechnipFMC has decreased its dividend payment by an average of 8.4% annually over the last three years. TechnipFMC has a payout ratio of 10.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect TechnipFMC to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 10.3%.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $28.18 on Monday. TechnipFMC has a 12 month low of $18.33 and a 12 month high of $29.85. The stock’s fifty day simple moving average is $26.54 and its 200 day simple moving average is $26.36. The company has a market capitalization of $11.99 billion, a PE ratio of 18.54 and a beta of 1.51. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the company posted $0.21 EPS. The business’s quarterly revenue was up 14.2% on a year-over-year basis. On average, research analysts predict that TechnipFMC will post 1.55 EPS for the current year.

TechnipFMC announced that its board has initiated a stock repurchase program on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FTI shares. Susquehanna boosted their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. TD Cowen boosted their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, October 25th. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets boosted their price target on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, October 10th. Finally, HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, TechnipFMC presently has an average rating of “Buy” and a consensus target price of $33.60.

TechnipFMC Company Profile

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.