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

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

TechnipFMC Price Performance

NYSE:FTI remained flat at $26.59 during trading hours on Friday. The company’s stock had a trading volume of 3,542,472 shares, compared to its average volume of 4,720,067. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.92 and a current ratio of 1.16. The firm’s fifty day simple moving average is $24.07 and its 200-day simple moving average is $21.50. The stock has a market capitalization of $11.62 billion, a PE ratio of 221.58 and a beta of 1.65. TechnipFMC has a 52-week low of $12.64 and a 52-week high of $27.26.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, May 20th. This represents a $0.20 annualized dividend and a yield of 0.75%. TechnipFMC’s dividend payout ratio (DPR) is currently 166.67%.

Insider Transactions at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.20, for a total value of $264,809.20. Following the completion of the transaction, the director now owns 103,982 shares of the company’s stock, valued at approximately $2,204,418.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays raised their target price on TechnipFMC from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. StockNews.com lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Susquehanna increased their target price on TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a report on Friday. HSBC lowered TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 target price on the stock. in a research report on Friday, February 23rd. Finally, Bank of America increased their price target on shares of TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a research note on Monday, April 15th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average 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.