Trading Report: Today, Research Analysts Offer Predictions for FMC Technologies Inc.’s FY2016 Earnings (FTI)

Today, Research Analysts Offer Predictions for FMC Technologies Inc.’s FY2016 Earnings (FTI)

FMC Technologies Inc. (NYSE:FTI) – Equities research analysts at Griffin Securities upped their FY2016 EPS estimates for shares of FMC Technologies in a note issued to investors on Tuesday. Griffin Securities analyst K. Simpson now forecasts that the brokerage will earn $1.07 per share for the year, up from their previous estimate of $0.90. Griffin Securities has a “Buy” rating and a $46.00 price objective on the stock. Griffin Securities also issued estimates for FMC Technologies’ Q4 2016 earnings at $0.28 EPS and FY2017 earnings at $1.00 EPS.

FMC Technologies (NYSE:FTI) last issued its quarterly earnings results on Wednesday, October 19th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.16 billion. FMC Technologies had a net margin of 2.25% and a return on equity of 10.93%. FMC Technologies’s revenue was down 29.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.61 earnings per share.

Several other brokerages also recently weighed in on FTI. Jefferies Group set a $33.00 price target on shares of FMC Technologies and gave the company a “hold” rating in a report on Monday, October 24th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $31.00 price target on shares of FMC Technologies in a report on Thursday, November 3rd. Capital One Financial Corp. raised shares of FMC Technologies from an “equal weight” rating to an “overweight” rating and set a $36.00 price target on the stock in a report on Thursday, August 25th. Seaport Global Securities downgraded shares of FMC Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the company from $29.00 to $28.00 in a report on Thursday, September 22nd. Finally, Citigroup Inc. lifted their price target on shares of FMC Technologies from $29.00 to $31.00 and gave the company a “neutral” rating in a report on Monday, September 12th. Fifteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $32.34.

FMC Technologies (NYSE:FTI) opened at 34.71 on Thursday. The firm has a market cap of $7.83 billion, a price-to-earnings ratio of 75.13 and a beta of 0.92. The stock’s 50 day moving average is $32.81 and its 200-day moving average is $28.69. FMC Technologies has a one year low of $22.30 and a one year high of $35.74.

A number of institutional investors have recently made changes to their positions in FTI. Wellington Management Group LLP increased its position in shares of FMC Technologies by 4.3% in the first quarter. Wellington Management Group LLP now owns 670,057 shares of the company’s stock worth $18,333,000 after buying an additional 27,881 shares in the last quarter. Legal & General Group Plc increased its position in shares of FMC Technologies by 1.8% in the first quarter. Legal & General Group Plc now owns 1,022,765 shares of the company’s stock worth $27,982,000 after buying an additional 18,166 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of FMC Technologies by 58.4% in the first quarter. Envestnet Asset Management Inc. now owns 105,862 shares of the company’s stock worth $2,896,000 after buying an additional 39,037 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of FMC Technologies during the first quarter worth approximately $275,000. Finally, Squarepoint Ops LLC increased its position in shares of FMC Technologies by 35.7% in the first quarter. Squarepoint Ops LLC now owns 40,729 shares of the company’s stock worth $1,114,000 after buying an additional 10,720 shares in the last quarter. Institutional investors and hedge funds own 88.38% of the company’s stock.

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