TechnipFMC plc [NYSE: FTI] loss -0.22% or -0.03 points to close at $13.69 with a heavy trading volume of 5012523 shares. The company report on February 28, 2023 that TechnipFMC Awarded Substantial Flexible Pipe Contract for Agogo Integrated West Hub Development Project.
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TechnipFMC (NYSE: FTI) has been awarded a substantial(1) contract by Azule Energy to supply flexible pipe for the Agogo Integrated West Hub Development Project, offshore Angola.
The contract is one of TechnipFMC’s largest ever awards for flexible pipe in West Africa, and covers the engineering, procurement, and supply of jumpers, flowlines, risers, and all associated ancillary equipment. The flexible pipe will connect the new Agogo facility to the subsea production systems.
It opened the trading session at $13.84, the shares rose to $14.28 and dropped to $13.51, the range by which the price of stock traded the whole day. The daily chart for FTI points out that the company has recorded 50.94% gains over the past six months. However, it is still -150.27% lower than its most recent low trading price.
If we look at the average trading volume of 5.45M shares, FTI reached to a volume of 5012523 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about TechnipFMC plc [FTI]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FTI shares is $17.52 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FTI stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for TechnipFMC plc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 17, 2023. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Buy. The new note on the price target was released on January 19, 2023, representing the official price target for TechnipFMC plc stock. Previously, the target price had yet another raise to $13.50, while HSBC Securities analysts kept a Buy rating on FTI stock.
The Average True Range (ATR) for TechnipFMC plc is set at 0.63, with the Price to Sales ratio for FTI stock in the period of the last 12 months amounting to 0.92. The Price to Book ratio for the last quarter was 1.88, with the Price to Cash per share for the same quarter was set at 2.40. Price to Free Cash Flow for FTI in the course of the last twelve months was 31.88 with Quick ratio for the last quarter at 0.90.
Trading performance analysis for FTI stock
TechnipFMC plc [FTI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.76. With this latest performance, FTI shares dropped by -2.84% in over the last four-week period, additionally plugging by 50.94% over the last 6 months – not to mention a rise of 83.27% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FTI stock in for the last two-week period is set at 41.42, with the RSI for the last a single of trading hit 31.65, and the three-weeks RSI is set at 46.85 for TechnipFMC plc [FTI]. The present Moving Average for the last 50 days of trading for this stock 13.66, while it was recorded at 14.37 for the last single week of trading, and 10.30 for the last 200 days.
TechnipFMC plc [FTI]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and TechnipFMC plc [FTI] shares currently have an operating margin of +3.53 and a Gross Margin at +13.75. TechnipFMC plc’s Net Margin is presently recorded at -0.92.
Return on Equity for this stock declined to -1.86, with Return on Assets sitting at -0.64.
TechnipFMC plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.20.
TechnipFMC plc [FTI]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FTI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for TechnipFMC plc go to -2.90%.
An analysis of insider ownership at TechnipFMC plc [FTI]
There are presently around $5,857 million, or 98.95% of FTI stock, in the hands of institutional investors. The top three institutional holders of FTI stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 58,933,447, which is approximately 11.102% of the company’s market cap and around 1.49% of the total institutional ownership; FMR LLC, holding 42,290,758 shares of the stock with an approximate value of $578.96 million in FTI stocks shares; and WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC, currently with $298.75 million in FTI stock with ownership of nearly 5.428% of the company’s market capitalization.
Positions in TechnipFMC plc stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 156 institutional holders increased their position in TechnipFMC plc [NYSE:FTI] by around 82,355,004 shares. Additionally, 132 investors decreased positions by around 84,137,472 shares, while 35 investors held positions by with 261,355,309 shares. The mentioned changes placed institutional holdings at 427,847,785 shares, according to the latest SEC report filing. FTI stock had 68 new institutional investments in for a total of 44,941,207 shares, while 31 institutional investors sold positions of 11,950,578 shares during the same period.