FMC Technologies, Inc. (FTI) Upgraded at BidaskClub

FMC Technologies, Inc. (NYSE:FTI) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Tuesday, August 1st.

FTI has been the subject of several other reports. Piper Jaffray Companies set a $32.00 target price on shares of FMC Technologies and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Scotiabank set a $37.00 target price on shares of FMC Technologies and gave the stock a “buy” rating in a research report on Monday, May 1st. Sanford C. Bernstein upgraded shares of FMC Technologies from an “underperform” rating to a “market perform” rating and set a $29.00 price target for the company in a research report on Tuesday, May 16th. ValuEngine upgraded shares of FMC Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Finally, Jefferies Group LLC restated a “hold” rating and set a $31.00 price target on shares of FMC Technologies in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $35.29.

Shares of FMC Technologies (NYSE:FTI) opened at 25.75 on Tuesday. FMC Technologies has a one year low of $25.45 and a one year high of $36.14. The firm has a market cap of $12.03 billion, a P/E ratio of 31.14 and a beta of 0.92. The firm has a 50 day moving average price of $27.44 and a 200-day moving average price of $30.19.

FMC Technologies (NYSE:FTI) last announced its earnings results on Wednesday, July 26th. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.08. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Analysts forecast that FMC Technologies will post $1.06 earnings per share for the current year.

FMC Technologies declared that its Board of Directors has approved a share repurchase program on Wednesday, April 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the oil and gas company to repurchase up to 135% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

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In other FMC Technologies news, EVP Bradley D. Beitler sold 12,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $32.00, for a total value of $384,000.00. Following the completion of the sale, the executive vice president now directly owns 87,886 shares of the company’s stock, valued at approximately $2,812,352. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Maryann T. Mannen sold 6,500 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $29.20, for a total transaction of $189,800.00. Following the completion of the sale, the chief financial officer now directly owns 309,261 shares of the company’s stock, valued at $9,030,421.20. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Toronto Dominion Bank raised its stake in FMC Technologies by 25.6% in the second quarter. Toronto Dominion Bank now owns 157,776 shares of the oil and gas company’s stock valued at $4,291,000 after buying an additional 32,120 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in FMC Technologies during the second quarter valued at approximately $313,000. Sterling Capital Management LLC raised its position in FMC Technologies by 8.0% in the second quarter. Sterling Capital Management LLC now owns 78,020 shares of the oil and gas company’s stock valued at $2,122,000 after buying an additional 5,790 shares during the period. Nomura Holdings Inc. bought a new stake in FMC Technologies during the second quarter valued at $962,000. Finally, California State Teachers Retirement System acquired a new stake in FMC Technologies during the second quarter valued at approximately $1,553,000. Institutional investors and hedge funds own 65.57% of the company’s stock.

FMC Technologies Company Profile

FMC Technologies, Inc is a global provider of technology solutions for the energy industry. The Company designs, manufactures and services a range of systems and products, including subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems.

Analyst Recommendations for FMC Technologies (NYSE:FTI)

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