TechnipFMC plc (NYSE:FTI) does about 7.10M shares in volume on a normal day but saw 5600592 shares change hands in Monday trading. The company now has a market cap of 5.66B USD. Its current market price is $13.13, marking an increase of 0.77% compared to the previous close of $13.03. The 52 week high reached by this stock is $13.20 whilst the lowest price level in 52 weeks is $5.47. The script in recent trading has seen the stock touch a high of $13.405 and a low of $12.94.
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TechnipFMC plc (FTI) has a 20-day trading average at $12.33 and the current price is -0.53% off the 52-week high compared with 139.82% distance from its 52-week low. The 50-day simple moving average of the closing price is $12.08 and its 200-day simple moving average is $9.17. If we look at the stock’s price movements over the week, volatility stands at 3.75%, which decreases to 3.62% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 63.94 to suggest the stock is neutral.
The consensus objective for the share price is $14.39, suggesting that the stock has a potential upside of 8.76% over the period.
FactSet Research has provided data showing that 22 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 1 advise that it is a overweight. 18 analysts have rated it as a buy and 3 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Strong Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on January 19, 2023 when The Benchmark Company initiated the stock to “Buy” and issued a price target of $15. HSBC Securities upgraded the stock to “Buy” from Hold on October 25, 2022 at a price target of $13.50. Piper Sandler resumed its price target at $13.
The current price level is 6.92%, 8.86%, and 43.66% away from its SMA20, SMA50, and SMA200 respectively, with the FTI price moving above the 50-day SMA on January 23. TechnipFMC plc (FTI) stock is up 1.94% over the week and 11.37% over the past month. Its price is 7.71% year-to-date and 99.24% over the past year.
The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of $0.03 below consensus estimates by -$0.07. FTI’s earnings per share are forecast to grow by 129.60% this year and 537.50% over next year. Expected sales for next quarter are $1.72 billion, which analysts say will come at $6.65 billion for the current fiscal year and next year at $7.37 billion. In addition, estimates put the company’s current quarterly revenue at an average of $1.65 billion.
To reach the target analysts have set, the stock logically needs to grow 8.76 percent from here.
Outstanding shares total 450.10M with insiders holding 1.33% of the shares and institutional holders owning 99.38% of the company’s common stock. The company has a return on investment of -2.50% and return on equity of -6.80%. The forward price to earnings ratio is 25.75. The beta has a value of 1.80. Price to book ratio is 1.88 and price to sales ratio is 0.87.
According to a U.S. Securities and Exchange Commission filing, T Rowe Price Mid Cap Value Fund has reduced its position in TechnipFMC plc (FTI) to 25,656,726 shares, mirroring a recent drop by -9.74%. T Rowe Price Mid Cap Value Fund dumped -2.77 million shares of TechnipFMC plc common stock bringing its total worth to about $312.76 million at the end of recent close, SEC documents show. T Rowe Price Mid Cap Value Fund isn’t the only investment manager who changed stakes and is followed by Caisse de Dépôt & Placement du Qu, which added 5.55 million shares to end up with 15,445,620 shares worth $188.28 million.
