TechnipFMC plc (NYSE:FTI) to Post Q1 2023 Earnings of $0.03 Per Share, Zacks Research Forecasts

Posted by Defense World Staff on Apr 24th, 2023

TechnipFMC plc (NYSE:FTI – Get Rating) – Research analysts at Zacks Research cut their Q1 2023 earnings estimates for shares of TechnipFMC in a note issued to investors on Thursday, April 20th. Zacks Research analyst N. Choudhury now forecasts that the oil and gas company will post earnings of $0.03 per share for the quarter, down from their prior estimate of $0.05. The consensus estimate for TechnipFMC’s current full-year earnings is $0.49 per share. Zacks Research also issued estimates for TechnipFMC’s Q2 2024 earnings at $0.19 EPS, Q4 2024 earnings at $0.18 EPS, FY2024 earnings at $0.67 EPS, Q1 2025 earnings at $0.23 EPS and FY2025 earnings at $1.08 EPS.

FTI has been the subject of a number of other research reports. Citigroup raised their price objective on TechnipFMC from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, February 28th. BTIG Research increased their price objective on TechnipFMC from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, February 24th. Benchmark assumed coverage on TechnipFMC in a research note on Thursday, January 19th. They issued a “buy” rating and a $15.00 price target on the stock. StockNews.com began coverage on shares of TechnipFMC in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, Barclays boosted their target price on shares of TechnipFMC from $14.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, February 27th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

TechnipFMC Trading Down 1.1 %

Shares of TechnipFMC stock opened at $13.02 on Monday. The firm’s 50 day moving average is $13.83 and its 200 day moving average is $12.56. The firm has a market capitalization of $5.75 billion, a PE ratio of -56.61 and a beta of 1.74. TechnipFMC has a 1 year low of $5.47 and a 1 year high of $16.03. The company has a current ratio of 1.20, a quick ratio of 0.95 and a debt-to-equity ratio of 0.31.

TechnipFMC (NYSE:FTI – Get Rating) last issued its earnings results on Thursday, February 23rd. The oil and gas company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.08). The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.67 billion. TechnipFMC had a negative net margin of 1.60% and a negative return on equity of 0.38%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.12) earnings per share.

Insider Buying and Selling at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 22,208 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $15.10, for a total transaction of $335,340.80. Following the completion of the sale, the director now owns 107,092 shares of the company’s stock, valued at $1,617,089.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FTI. Oliver Luxxe Assets LLC purchased a new stake in shares of TechnipFMC in the 4th quarter valued at approximately $1,087,000. Profund Advisors LLC increased its position in shares of TechnipFMC by 14.9% during the fourth quarter. Profund Advisors LLC now owns 98,060 shares of the oil and gas company’s stock valued at $1,195,000 after purchasing an additional 12,681 shares during the period. Encompass Capital Advisors LLC increased its position in shares of TechnipFMC by 205.9% during the third quarter. Encompass Capital Advisors LLC now owns 9,175,529 shares of the oil and gas company’s stock valued at $77,625,000 after purchasing an additional 6,175,529 shares during the period. Janney Capital Management LLC boosted its position in shares of TechnipFMC by 6.1% during the 3rd quarter. Janney Capital Management LLC now owns 46,599 shares of the oil and gas company’s stock valued at $394,000 after acquiring an additional 2,697 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of TechnipFMC during the 3rd quarter valued at about $8,179,000. Institutional investors and hedge funds own 94.52% of the company’s stock.

TechnipFMC Company Profile

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TechnipFMC plc is an energy service company, which engages in the provision of solutions for the production and transformation of hydrocarbons. It operates through the following segments: Subsea and Surface Technologies. The Subsea segment engages in designs and manufactures products and systems, performs engineering, procurement and project management, and provides services used by oil and gas companies involved in offshore exploration and production of crude oil and natural gas.