TechnipFMC plc (NYSE:FTI) is expected to report quarterly revenue of $1.58 billion


Equity analysts expect TechnipFMC plc (NYSE:FTI) to report revenue of $1.58 billion for the current fiscal quarter, Zacks reports. Seventeen analysts have released earnings estimates for TechnipFMC. The lowest sales estimate is $1.53 billion and the highest is $1.63 billion. TechnipFMC posted revenue of $3.43 billion in the same quarter last year, suggesting a negative 53.9% year-over-year growth rate. The company is expected to release its next quarterly earnings report after the market closes on Wednesday, February 23.

On average, analysts expect TechnipFMC to report revenue of $6.46 billion for the current year, with estimates ranging from $6.41 billion to $6.51 billion. For the next fiscal year, analysts expect the company to record sales of $6.71 billion, with estimates ranging from $5.98 billion to $7.50 billion. Zacks Investment Research sales calculations are an average based on a survey of sell-side research firms that track TechnipFMC.

A number of research analysts have recently released reports on the stock. Societe Generale downgraded TechnipFMC shares from a buy rating to a hold rating and set a price target of $7.57 on the stock. in a research report on Monday, November 15. Piper Sandler upgraded TechnipFMC shares from a “neutral” rating to an “overweight” rating and lowered its price target from $9.60 to $10.00 in a Tuesday, October 26 research report. Evercore ISI began covering TechnipFMC shares in a research report on Monday, November 15. They set an “outperform” rating and a target price of $12.00 on the stock. Finally, Jefferies Financial Group upgraded TechnipFMC shares from a “hold” rating to a “buy” rating and raised its share price target from $8.00 to $9.00 in a report of research of Wednesday, December 8. One financial analyst gave the stock a sell rating, nine gave the company a hold rating and five gave the company a buy rating. Based on data from MarketBeat.com, TechnipFMC currently has an average rating of “Hold” and a consensus price target of $9.37.

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This is a stock that has kept its expenses in line and has a positive EBITDA.

A number of hedge funds and other institutional investors have recently changed their positions in FTI. OLD Mission Capital LLC acquired a new stake in TechnipFMC during the 3rd quarter for a value of approximately $131,000. Bank of Montreal Can increased its stake in TechnipFMC by 35.5% during the second quarter. Bank of Montreal Can now owns 24,397 shares of the oil and gas company valued at $225,000 after acquiring an additional 6,386 shares during the period. LPL Financial LLC increased its stake in TechnipFMC shares by 7.5% in the second quarter. LPL Financial LLC now owns 138,548 shares of the oil and gas company valued at $1,254,000 after purchasing an additional 9,694 shares during the period. Northern Trust Corp increased its stake in TechnipFMC shares by 18.8% in the second quarter. Northern Trust Corp now owns 1,528,844 shares of the oil and gas company valued at $13,835,000 after purchasing an additional 242,252 shares during the period. Finally, Allianz Asset Management GmbH increased its holding in TechnipFMC shares by 20.5% in the 2nd quarter. Allianz Asset Management GmbH now owns 212,943 shares of the oil and gas company valued at $1,927,000 after purchasing an additional 36,217 shares during the period. Institutional investors and hedge funds hold 88.59% of the company’s shares.

TechnipFMC shares opened Wednesday at $6.46. The stock has a 50-day moving average price of $6.51. The company has a debt ratio of 0.58, a quick ratio of 1.23 and a current ratio of 1.52. TechnipFMC has a 52-week low of $5.55 and a 52-week high of $10.70. The stock has a market capitalization of $2.91 billion, a P/E ratio of 23.07 and a beta of 1.99.

About TechnipFMC

TechnipFMC Plc is an energy services 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 is engaged in the design, engineering, procurement, manufacturing, fabrication and installation, as well as lifetime field service for subsea systems. vessels, subsea infrastructure and subsea pipeline systems used in the production and transportation of oil and gas.

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TechnipFMC (NYSE:FTI) Earnings History and Estimates

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