TechnipFMC PLC (NYSE:FTI) Expected to Post Earnings of $0.06 Per Share

Equities analysts expect TechnipFMC PLC (NYSE:FTI) to announce earnings of $0.06 per share for the current fiscal quarter, according to Zacks Investment Research. Twenty Seven analysts have provided estimates for TechnipFMC’s earnings, with the lowest EPS estimate coming in at ($0.11) and the highest estimate coming in at $0.34. TechnipFMC posted earnings of $0.39 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 84.6%. The business is expected to issue its next quarterly earnings results after the market closes on Wednesday, July 29th.

According to Zacks, analysts expect that TechnipFMC will report full-year earnings of $0.31 per share for the current year, with EPS estimates ranging from ($0.24) to $0.83. For the next fiscal year, analysts forecast that the firm will post earnings of $0.60 per share, with EPS estimates ranging from $0.06 to $1.05. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for TechnipFMC.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.33). The firm had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.38 billion. TechnipFMC had a positive return on equity of 2.41% and a negative net margin of 40.74%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.06 earnings per share.

Several brokerages have weighed in on FTI. UBS Group lifted their price objective on TechnipFMC from $9.50 to $10.25 and gave the company a “buy” rating in a report on Tuesday, May 26th. Piper Sandler cut TechnipFMC from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $31.00 to $8.00 in a report on Friday, March 27th. Societe Generale cut TechnipFMC from a “buy” rating to a “hold” rating in a report on Tuesday, April 21st. Barclays dropped their price objective on TechnipFMC from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Monday, April 27th. Finally, ValuEngine upgraded TechnipFMC from a “sell” rating to a “hold” rating in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $16.39.

NYSE FTI traded down $0.30 during midday trading on Friday, hitting $7.04. The company had a trading volume of 4,414,868 shares, compared to its average volume of 8,693,889. The company has a market capitalization of $3.29 billion, a PE ratio of -0.57, a P/E/G ratio of 0.81 and a beta of 1.91. The company has a current ratio of 1.14, a quick ratio of 1.01 and a debt-to-equity ratio of 1.09. The firm has a 50-day moving average price of $7.84 and a 200-day moving average price of $12.69. TechnipFMC has a twelve month low of $4.49 and a twelve month high of $28.57.

A number of hedge funds have recently modified their holdings of the stock. First Eagle Investment Management LLC grew its position in TechnipFMC by 19.2% during the 4th quarter. First Eagle Investment Management LLC now owns 32,271,892 shares of the oil and gas company’s stock worth $691,909,000 after acquiring an additional 5,189,029 shares during the last quarter. State Street Corp grew its position in TechnipFMC by 6.0% during the 1st quarter. State Street Corp now owns 22,639,204 shares of the oil and gas company’s stock worth $155,357,000 after acquiring an additional 1,288,861 shares during the last quarter. BlackRock Inc. grew its position in TechnipFMC by 10.7% during the 1st quarter. BlackRock Inc. now owns 21,288,743 shares of the oil and gas company’s stock worth $143,487,000 after acquiring an additional 2,049,316 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its position in TechnipFMC by 15.3% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 17,367,907 shares of the oil and gas company’s stock worth $372,369,000 after acquiring an additional 2,306,583 shares during the last quarter. Finally, Pzena Investment Management LLC grew its position in TechnipFMC by 8.9% during the 1st quarter. Pzena Investment Management LLC now owns 12,220,651 shares of the oil and gas company’s stock worth $82,367,000 after acquiring an additional 997,595 shares during the last quarter. Institutional investors and hedge funds own 77.79% of the company’s stock.

TechnipFMC Company Profile

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.

Recommended Story: How to interpret a stock’s beta number

Get a free copy of the Zacks research report on TechnipFMC (FTI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for TechnipFMC (NYSE:FTI)

Receive News & Ratings for TechnipFMC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TechnipFMC and related companies with MarketBeat.com's FREE daily email newsletter.