TechnipFMC (NYSE:FTI) Shares Gap Down to $8.73

TechnipFMC plc (NYSE:FTIGet Rating)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $8.73, but opened at $8.46. TechnipFMC shares last traded at $8.81, with a volume of 60,164 shares.

FTI has been the topic of several recent research reports. Societe Generale upgraded TechnipFMC from a “hold” rating to a “buy” rating and boosted their target price for the stock from $7.57 to $10.00 in a report on Tuesday. Kepler Capital Markets upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Monday, February 28th. Finally, StockNews.com began coverage on TechnipFMC in a report on Thursday, March 31st. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $10.50.

The stock has a market capitalization of $3.95 billion, a P/E ratio of 440.50 and a beta of 1.98. The company has a current ratio of 1.39, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The business’s 50-day moving average is $7.34.

TechnipFMC (NYSE:FTIGet Rating) last announced its earnings results on Wednesday, February 23rd. The oil and gas company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.59 billion. TechnipFMC had a net margin of 0.21% and a negative return on equity of 3.40%. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.05 EPS. As a group, equities research analysts predict that TechnipFMC plc will post 0.17 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of FTI. Franklin Resources Inc. increased its position in shares of TechnipFMC by 89.0% during the third quarter. Franklin Resources Inc. now owns 16,025,655 shares of the oil and gas company’s stock worth $120,675,000 after acquiring an additional 7,545,761 shares during the period. Norges Bank purchased a new stake in shares of TechnipFMC during the fourth quarter worth $27,264,000. Van ECK Associates Corp increased its position in shares of TechnipFMC by 31.6% during the third quarter. Van ECK Associates Corp now owns 17,339,538 shares of the oil and gas company’s stock worth $130,567,000 after acquiring an additional 4,166,307 shares during the period. Monaco Asset Management SAM purchased a new stake in shares of TechnipFMC during the fourth quarter worth $16,724,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of TechnipFMC during the fourth quarter worth $16,607,000. 88.59% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Company Profile (NYSE:FTI)

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. 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.

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