On April 13, 2023, Bloomberg Ratings reported that the shares of TechnipFMC plc (NYSE:FTI) had received an average rating of “Moderate Buy” from thirteen analysts covering the energy service company. The analysts’ consensus estimate was that the stock was worth $15.45 per share over a twelve-month period. Of the thirteen analysts covering TechnipFMC, twelve rated it as a buy, while only one gave a hold rating.
Despite the optimism surrounding TechnipFMC, the company fell short of expectations when it announced its quarterly earnings results on February 23rd. For the quarter ending in February, TechnipFMC reported an EPS of -$0.05, missing estimates by $0.08. However, the oil and gas company generated $1.69 billion in revenue during this period – slightly higher than Wall Street expectations of $1.67 billion.
Analysts remain optimistic about TechnipFMC’s future prospects despite its recent EPS miss. The energy service provider engages in designing and manufacturing products and systems for offshore exploration and production of crude oil and natural gas, among other services across its two segments – Subsea and Surface Technologies.
The Subsea segment focuses on providing solutions for underwater operations related to hydrocarbon production, while Surface Technologies provides solutions for land-based and shallow water hydrocarbon production activities.
TechnipFMC’s growth potential can be attributed to its leading position in subsea engineering services that help extract hydrocarbons from deep-water reserves spread across some of the world’s most challenging geological landscapes.
In conclusion, despite posting weak earnings earlier this year, experts continue to have unwavering faith in TechnipFMC’s future performance and growth trajectory due to advances made within its industry segments. With sustained progress towards efficient extraction techniques and rising demands for fuel globally – this could add up to brighter days ahead for shareholders of FTI stock.
Positive Brokerage Reports Boost Prospects for TechnipFMC plc in Energy Sector
TechnipFMC plc: Weighing in on the Recent Brokerage Reports
April 13, 2023 – TechnipFMC plc (NYSE: FTI) has been receiving positive feedback from a number of brokerages recently, indicating good prospects for the energy service company. Among the brokerages that have released reports, Citigroup lifted TechnipFMC’s price target from $18.00 to $20.00 and gave the company a “buy” rating while Barclays upped their price objective on TechnipFMC from $14.00 to $20.00 and gave the company an “overweight” rating.
Benchmark initiated coverage of TechnipFMC with a “buy” rating and set its price target at $15.00; Cowen increased their price target from $17.00 to $20.00, giving the company an “outperform” rating; finally, BTIG Research upped their price objective on shares of TechnipFMC from $15.00 to $18.00 and provided it with a ‘buy’ rating in a research report released on February 24th.
Shares of NYSE FTI opened at $13.59 on Thursday, April 13th with a market capitalization of $6 billion, reflecting analysts’ evaluations of TechnipFMC’s potential profitability in light of recent trends and growth projections in the energy sector.
TechnipFMC‘s Debt-to-Equity ratio stands at 0.31, demonstrating strong solvency capabilities for the corporation as well as an acceptable level within its particular industry sector guidelines – this is supportive given how firms experiencing debt problems are increasingly vulnerable to economic downturns or sudden changes in money markets.
The operating performance of TechnipFMC seems robust, given that the quick ratio was recorded at 0.95%. The current ratio stood at 1.20%. The firm’s beta was 1.74, which indicates higher volatility than the broader market.
TechnipFMC’s 50-day moving average and 200-day moving average are $13.85 and $12.30, respectively, indicating that TechnipFMC is trending upwards in the market and is poised to grow further.
Operating in two segments of the energy sector, Subsea and Surface Technologies, TechnipFMC provides oil and gas companies with engineered solutions for offshore exploration and production of crude oil and natural gas, through designing and manufacturing products/systems or performing engineering, procurement project management (EPPM), as well as offering other services.
In separate news recently filed with the Securities & Exchange Commission, a Director of TechnipFMC plc – Carvalho Filho Eleazar De sold 22,208 shares of the company’s stock at an average price of $15.10 on Thursday, March 9th. Following this sale release by company insiders; just over 1% (1.06%) of the stock is now owned by insiders within TechnipFMC.
Several hedge funds have bought into or decreased their stakes in TechnipFMC recently while Signaturefd LLC increased its stake by 88.5% during Q4/2022 meaning they now own 2,964 shares worth approximately $36k; This was also matched somewhat by Tower Research Capital LLC TRC who increased their equity holding by almost 200% selling off heavily during previous quarters giving them an overall holding worth around $56k as per institutional filings to date.
All facts therefore suggest from brokerages reports so far that FTI – outperform its benchmarks in energy sector going forward ██████████████ hypothesis still not confirmed / rejected ███████████ all evaluations indicate prospective profitability increasing especially given wider industry demand for natural gas as sources previously renewable dictate change towards more conventional means such as hydrocarbon-based exploration methods across on-shore/off-shore locations.