TechnipFMC plc (FTI) To Go Ex-Dividend on November 19th

TechnipFMC plc (NYSE:FTI) declared a quarterly dividend on Wednesday, October 23rd, RTT News reports. Shareholders of record on Tuesday, November 19th will be paid a dividend of 0.05 per share by the oil and gas company on Wednesday, December 4th. This represents a $0.20 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Tuesday, November 19th.

TechnipFMC has decreased its dividend by an average of 8.4% annually over the last three years. TechnipFMC has a dividend payout ratio of 10.7% meaning its dividend is sufficiently covered by earnings. Analysts expect TechnipFMC to earn $1.90 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 10.5%.

TechnipFMC Stock Up 2.8 %

FTI opened at $25.86 on Friday. The company has a market capitalization of $11.14 billion, a PE ratio of 55.02 and a beta of 1.50. The business has a 50-day moving average of $26.14 and a 200-day moving average of $26.18. TechnipFMC has a fifty-two week low of $18.33 and a fifty-two week high of $29.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.84.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.31 by $0.12. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.23 billion. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 earnings per share. Equities research analysts forecast that TechnipFMC will post 1.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FTI shares. Citigroup raised their price target on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Susquehanna increased their target price on TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a research note on Friday, July 26th. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Monday. BMO Capital Markets increased their price objective on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. Finally, Bank of America raised their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.74.

TechnipFMC declared that its Board of Directors has approved a share buyback plan on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

About TechnipFMC

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.