Today, FMC Technologies Inc. (FTI) Upgrade at Griffin Securities

Today, FMC Technologies Inc. (FTI) Upgrade at Griffin Securities

Griffin Securities upgraded shares of FMC Technologies Inc. (NYSE:FTI) from a neutral rating to a buy rating in a research note released on Wednesday. The brokerage currently has $46.00 target price on the stock.

Several other research analysts have also weighed in on FTI. Scotiabank reissued a sector outperform rating and set a $32.00 price objective (down from $35.00) on shares of FMC Technologies in a report on Tuesday, July 26th. FBR & Co decreased their price objective on shares of FMC Technologies from $28.00 to $27.00 and set a mkt perform rating for the company in a report on Wednesday, July 27th. Jefferies Group reissued a hold rating on shares of FMC Technologies in a report on Friday, August 5th. Nomura set a $26.00 price objective on shares of FMC Technologies and gave the stock a hold rating in a report on Tuesday, August 16th. Finally, Capital One Financial Corp. raised shares of FMC Technologies from an equal weight rating to an overweight rating and set a $36.00 price objective for the company in a report on Thursday, August 25th. Fifteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. FMC Technologies presently has an average rating of Hold and a consensus target price of $32.34.

FMC Technologies (NYSE:FTI) opened at 33.31 on Wednesday. The stock has a market capitalization of $7.52 billion, a PE ratio of 72.10 and a beta of 0.92. FMC Technologies has a 12-month low of $22.30 and a 12-month high of $35.74. The company’s 50-day moving average is $33.02 and its 200 day moving average is $28.78.

FMC Technologies (NYSE:FTI) last announced its quarterly earnings data on Wednesday, October 19th. The company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.12. The company earned $1.09 billion during 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%. The firm’s revenue for the quarter was down 29.4% compared to the same quarter last year. During the same period last year, the business earned $0.61 EPS. On average, analysts predict that FMC Technologies will post $1.06 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC increased its position in shares of FMC Technologies by 0.3% in the second quarter. HighTower Advisors LLC now owns 9,686 shares of the company’s stock worth $258,000 after buying an additional 32 shares during the last quarter. DnB Asset Management AS increased its position in shares of FMC Technologies by 0.3% in the third quarter. DnB Asset Management AS now owns 14,936 shares of the company’s stock worth $443,000 after buying an additional 50 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of FMC Technologies by 0.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,190 shares of the company’s stock worth $213,000 after buying an additional 50 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of FMC Technologies by 0.4% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 17,466 shares of the company’s stock worth $518,000 after buying an additional 69 shares during the last quarter. Finally, Capstone Asset Management Co. increased its position in shares of FMC Technologies by 0.5% in the third quarter. Capstone Asset Management Co. now owns 15,852 shares of the company’s stock worth $470,000 after buying an additional 76 shares during the last quarter. 90.45% of the stock is currently owned by hedge funds and other institutional investors.

FMC Technologies Company Profile

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