TechnipFMC (NYSE:FTI) Trading Down 3.9% After Analyst Downgrade

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TechnipFMC plc (NYSE:FTIGet Rating) was down 3.9% during mid-day trading on Thursday after Cowen lowered their price target on the stock from $15.00 to $14.00. Cowen currently has an outperform rating on the stock. TechnipFMC traded as low as $6.41 and last traded at $6.42. Approximately 93,218 shares were traded during trading, a decline of 99% from the average daily volume of 8,541,320 shares. The stock had previously closed at $6.68.

Other analysts also recently issued research reports about the stock. StockNews.com started coverage on shares of TechnipFMC in a report on Thursday, March 31st. They set a “hold” rating for the company. Cowen decreased their price objective on shares of TechnipFMC from $15.00 to $14.00 in a report on Thursday. Societe Generale upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and raised their price objective for the stock from $7.57 to $10.00 in a report on Tuesday, April 19th. Finally, Kepler Capital Markets upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Monday, February 28th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.29.

Several institutional investors and hedge funds have recently bought and sold shares of FTI. Cubist Systematic Strategies LLC grew its stake in TechnipFMC by 20.8% during the fourth quarter. Cubist Systematic Strategies LLC now owns 857,673 shares of the oil and gas company’s stock valued at $5,077,000 after acquiring an additional 147,472 shares in the last quarter. Modera Wealth Management LLC purchased a new position in TechnipFMC during the fourth quarter valued at approximately $68,000. Qube Research & Technologies Ltd grew its stake in TechnipFMC by 32.2% during the fourth quarter. Qube Research & Technologies Ltd now owns 243,928 shares of the oil and gas company’s stock valued at $1,444,000 after acquiring an additional 59,472 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in TechnipFMC during the fourth quarter valued at approximately $61,000. Finally, Bridgefront Capital LLC purchased a new position in TechnipFMC during the fourth quarter valued at approximately $64,000. Hedge funds and other institutional investors own 88.53% of the company’s stock.

The firm’s 50 day moving average is $7.69 and its 200 day moving average is $7.17. The company has a market cap of $2.90 billion, a PE ratio of -6.98 and a beta of 1.88. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.43 and a quick ratio of 1.13.

TechnipFMC (NYSE:FTIGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The oil and gas company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.58 billion. TechnipFMC had a negative net margin of 6.58% and a negative return on equity of 3.41%. During the same period in the prior year, the firm posted ($0.03) EPS. As a group, analysts anticipate that TechnipFMC plc will post 0.13 EPS for the current year.

About TechnipFMC (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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