Royal Bank of Canada Begins Coverage on TechnipFMC (NYSE:FTI)

Stock analysts at Royal Bank of Canada initiated coverage on shares of TechnipFMC (NYSE:FTI) in a report issued on Monday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $37.00 price target on the oil and gas company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 31.30% from the company’s previous close.

Several other brokerages also recently commented on FTI. Barclays upped their target price on shares of TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. TD Cowen lifted their target price on TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Bank of America raised their price target on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Susquehanna raised 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. Finally, StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $33.91.

TechnipFMC Price Performance

Shares of FTI stock opened at $28.18 on Monday. The firm’s 50 day moving average price is $26.54 and its two-hundred day moving average price is $26.36. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC has a 52-week low of $18.33 and a 52-week high of $29.85. The stock has a market cap of $11.99 billion, a PE ratio of 18.54 and a beta of 1.51.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 earnings per share. As a group, analysts forecast that TechnipFMC will post 1.55 EPS for the current year.

TechnipFMC declared that its Board of Directors has authorized a stock buyback plan on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of TechnipFMC

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. grew its stake in TechnipFMC by 203.6% in the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 735 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in TechnipFMC during the third quarter worth $30,000. GAMMA Investing LLC raised its position in TechnipFMC by 73.1% during the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 492 shares in the last quarter. ORG Partners LLC acquired a new stake in TechnipFMC in the second quarter valued at $33,000. Finally, Crewe Advisors LLC bought a new position in shares of TechnipFMC in the 2nd quarter valued at about $51,000. Institutional investors own 96.58% of the company’s stock.

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.