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TechnipFMC (NYSE:FTI) trades down 3.9% following analyst downgrade

Shares of TechnipFMC plc (NYSE:FTI – Get Rating) fell 3.9% in Thursday’s session after Cowen lowered his price target on the stock from $15.00 to $14.00. Cowen currently has an outperform rating on the stock. TechnipFMC traded as low as $6.41 and last traded at $6.42. Approximately 93,218 shares were traded during trading, a 99% decline from the average daily volume of 8,541,320 shares. The stock previously closed at $6.68.

Other stock analysts have also published research reports on the company. launched coverage on TechnipFMC in a research note on Thursday, March 31. They have set a “holding” rating on the stock. Cowen lowered its price target on TechnipFMC from $15.00 to $14.00 in a report released Thursday. Societe Generale upgraded TechnipFMC from a “hold” rating to a “buy” rating and raised its price target for the company from $7.57 to $10.00 in a Tuesday, April 19 report. Finally, Kepler Capital Markets upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a Monday, Feb. 28 research note. One research analyst gave the stock a hold rating and six gave the company a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.29.

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A number of hedge funds have recently bought and sold shares of the company. Verition Fund Management LLC increased its stake in TechnipFMC shares by 47.3% during the first quarter. Verition Fund Management LLC now owns 112,399 shares of the oil and gas company worth $871,000 after buying 36,117 additional shares last quarter. BNP Paribas Arbitrage SA increased its stake in TechnipFMC by 23,053.6% in the first quarter. BNP Paribas Arbitrage SA now owns 1,058,118 shares in the oil and gas company valued at $8,200,000 after buying an additional 1,053,548 shares in the last quarter. Keeley Teton Advisors LLC increased its stake in TechnipFMC by 473.0% in the first quarter. Keeley Teton Advisors LLC now owns 722,044 shares of the oil and gas company valued at $5,596,000 after buying an additional 596,032 shares in the last quarter. Gamco Investors Inc. ET AL acquired a new stake in TechnipFMC in the first quarter worth approximately $357,000. Finally, Weiss Multi Strategy Advisers LLC purchased a new stock position in TechnipFMC during the first quarter for a value of approximately $1,191,000. 88.53% of the shares are held by hedge funds and other institutional investors.

The company has a market capitalization of $2.90 billion, a P/E ratio of -7.26 and a beta of 1.88. The company has a fifty-day moving average price of $7.72 and a 200-day moving average price of $7.17. The company has a debt ratio of 0.49, a current ratio of 1.43 and a quick ratio of 1.13.

TechnipFMC (NYSE:FTI – Get Rating) last reported results on Wednesday, April 27. The oil and gas company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The company posted revenue of $1.56 billion in the quarter, versus analyst estimates of $1.58 billion. TechnipFMC posted a negative return on equity of 3.41% and a negative net margin of 6.58%. In the same quarter last year, the company made ($0.03) earnings per share. On average, equity research analysts expect TechnipFMC plc to post 0.13 earnings per share for the current fiscal year.

TechnipFMC Company Profile (NYSE:FTI)

TechnipFMC plc is active in oil and gas projects, technologies, systems and services in Europe, Central Asia, North and Latin America, Asia-Pacific, Africa and the Middle East. The Subsea segment is engaged in the design, engineering, procurement, fabrication, fabrication, installation and life of field services for subsea systems, subsea infrastructure and subsea pipeline systems used in the production and transportation of oil and gas.

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