TechnipFMC PLC (NYSE:FTI) Expected to Post Quarterly Sales of $3.12 Billion

Equities analysts predict that TechnipFMC PLC (NYSE:FTI) will announce sales of $3.12 billion for the current quarter, Zacks reports. Twenty Seven analysts have issued estimates for TechnipFMC’s earnings, with estimates ranging from $2.59 billion to $3.81 billion. TechnipFMC reported sales of $3.43 billion during the same quarter last year, which indicates a negative year over year growth rate of 9%. The company is scheduled to report its next earnings results after the market closes on Wednesday, July 29th.

On average, analysts expect that TechnipFMC will report full year sales of $12.65 billion for the current financial year, with estimates ranging from $11.04 billion to $14.10 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $13.25 billion, with estimates ranging from $10.22 billion to $18.95 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow TechnipFMC.

TechnipFMC (NYSE:FTI) last announced 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 analysts’ expectations of $3.38 billion. TechnipFMC had a negative net margin of 40.74% and a positive return on equity of 2.41%. The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.06 EPS.

A number of research firms have weighed in on FTI. UBS Group raised their price objective on shares of TechnipFMC from $9.50 to $10.25 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Piper Sandler lowered shares of TechnipFMC from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $31.00 to $8.00 in a research note on Friday, March 27th. Tudor Pickering lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Monday, March 16th. ValuEngine upgraded shares of TechnipFMC from a “sell” rating to a “hold” rating in a research note on Thursday, April 23rd. Finally, Barclays reduced their price target on shares of TechnipFMC from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $16.39.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sunbelt Securities Inc. purchased a new position in TechnipFMC during the fourth quarter valued at approximately $3,666,000. Advisory Services Network LLC purchased a new position in TechnipFMC during the fourth quarter valued at approximately $27,000. Orion Portfolio Solutions LLC purchased a new position in TechnipFMC during the fourth quarter valued at approximately $31,000. CSat Investment Advisory L.P. lifted its holdings in TechnipFMC by 82.3% during the fourth quarter. CSat Investment Advisory L.P. now owns 2,007 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 906 shares in the last quarter. Finally, Verus Capital Partners LLC lifted its holdings in TechnipFMC by 514.4% during the first quarter. Verus Capital Partners LLC now owns 4,743 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 3,971 shares in the last quarter. 77.79% of the stock is currently owned by institutional investors.

NYSE:FTI traded down $0.24 on Monday, reaching $6.80. 6,969,977 shares of the stock traded hands, compared to its average volume of 6,264,506. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of -0.55, a PEG ratio of 1.10 and a beta of 1.92. The company has a current ratio of 1.14, a quick ratio of 1.01 and a debt-to-equity ratio of 1.09. TechnipFMC has a 12 month low of $4.49 and a 12 month high of $28.57. The company’s fifty day simple moving average is $7.84 and its 200 day simple moving average is $12.69.

About TechnipFMC

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.

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Earnings History and Estimates for TechnipFMC (NYSE:FTI)

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