Taking the lead: TechnipFMC plc (FTI)

TechnipFMC plc (NYSE: FTI) stock fell -1.14% on Wednesday to $12.13 against a previous-day closing price of $12.27. With 8.29 million shares changed hands, the volume of the stock remained lighter than its average volume of 8.55 million shares. During the session, the Oil & Gas Equipment & Services company that operates in wider Energy sector, reached to the highest price of $12.19 whereas the lowest price it dropped to was $11.75. The 52-week range on FTI shows that it touched its highest point at $12.42 and its lowest point at $5.47 during that stretch. It currently has a 1-year price target of $13.35. Beta for the stock currently stands at 1.81.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FTI was down-trending over the past week, with a drop of -1.62%, but this was up by 13.58% over a month. Three-month performance surged to 39.11% while six-month performance rose 47.03%. The stock gained 90.42% in the past year, while it has gained 104.90% so far this year. A look at the trailing 12-month EPS for FTI yields -0.36 with Next year EPS estimates of 0.52. For the next quarter, that number is 0.04. This implies an EPS growth rate of 102.40% for this year and 536.59% for next year. EPS is expected to decline by -2.90% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -42.80%.

Float and Shares Shorts:

At present, 450.10 million FTI shares are outstanding with a float of 440.51 million shares on hand for trading. On Oct 13, 2022, short shares totaled 12.72 million, which was 2.81% higher than short shares on Sep 14, 2022. In addition to Mr. Douglas J. Pferdehirt as the firm’s CEO & Exec. Chairman, Mr. Justin J. Rounce serves as its Exec. VP & Chief Technology Officer.

Institutional Ownership:

Through their ownership of 100.97% of FTI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 63.24% of FTI, in contrast to 34.18% held by mutual funds. Shares owned by individuals account for 1.94%. As the largest shareholder in FTI with 11.88% of the stake, T. Rowe Price Associates, Inc. holds 53,044,449 shares worth 53,044,449. A second-largest stockholder of FTI, Fidelity Management & Research Co, holds 42,726,494 shares, controlling over 9.57% of the firm’s shares. Pzena Investment Management LLC is the third largest shareholder in FTI, holding 26,367,730 shares or 5.91% stake. With a 6.37% stake in FTI, the T Rowe Price Mid Cap Value Fund is the largest stakeholder. A total of 28,423,826 shares are owned by the mutual fund manager. The Caisse de Dépôt & Placement du Qu, which owns about 3.46% of FTI stock, is the second-largest Mutual Fund holder. It holds 15,445,620 shares valued at 163.57 million. Franklin Small Cap Value Fund holds 2.98% of the stake in FTI, owning 13,318,811 shares worth 141.05 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FTI since 20 analysts follow the stock currently. There are 16 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With FTI analysts setting a high price target of $17.00 and a low target of $11.75, the average target price over the next 12 months is $13.78. Based on these targets, FTI could surge 40.15% to reach the target high and fall by -3.13% to reach the target low. Reaching the average price target will result in a growth of 13.6% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. FTI will report FY 2022 earnings on 02/22/2023. Analysts have provided yearly estimates in a range of $0.20 being high and $0.04 being low. For FTI, this leads to a yearly average estimate of $0.10. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. TechnipFMC plc surprised analysts by -$0.06 when it reported $0.03 EPS against a consensus estimate of $0.09. The surprise factor in the prior quarter was -$0.02. Based on analyst estimates, the high estimate for the next quarter is $0.11 and the low estimate is -$0.04. The average estimate for the next quarter is thus $0.03.

Summary of Insider Activity:

Insiders traded FTI stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has risen to 8 over the past year. The total number of shares bought during that period was 824,158 while 215,693 shares were sold.

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