ValuEngine Downgrades FMC Technologies, Inc. (NYSE:FTI) to Hold

ValuEngine cut shares of FMC Technologies, Inc. (NYSE:FTI) from a buy rating to a hold rating in a research report report published on Friday, September 1st.

Several other research analysts have also issued reports on FTI. Barclays PLC set a $33.00 price objective on FMC Technologies and gave the stock a hold rating in a research note on Saturday, May 6th. Sanford C. Bernstein upgraded FMC Technologies from an underperform rating to a market perform rating and set a $29.00 target price for the company in a research note on Tuesday, May 16th. Royal Bank Of Canada restated a hold rating and issued a $37.00 target price on shares of FMC Technologies in a research note on Friday, June 2nd. BidaskClub lowered FMC Technologies from a sell rating to a strong sell rating in a research note on Tuesday, June 20th. Finally, Seaport Global Securities lowered FMC Technologies from a buy rating to a neutral rating and lowered their price objective for the stock from $40.00 to $26.00 in a research report on Wednesday, June 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $34.94.

FMC Technologies (NYSE:FTI) traded up 1.35% during midday trading on Friday, reaching $27.06. 7,483,057 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $26.45 and its 200 day moving average is $29.31. The firm has a market capitalization of $12.64 billion, a P/E ratio of 32.72 and a beta of 0.93. FMC Technologies has a 52 week low of $25.17 and a 52 week high of $37.09.

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

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Several large investors have recently bought and sold shares of the business. First Eagle Investment Management LLC increased its position in shares of FMC Technologies by 53.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 30,585,688 shares of the oil and gas company’s stock worth $831,931,000 after purchasing an additional 10,617,891 shares during the last quarter. Vanguard Group Inc. increased its position in shares of FMC Technologies by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 27,167,998 shares of the oil and gas company’s stock worth $738,969,000 after purchasing an additional 896,416 shares during the last quarter. BlackRock Inc. increased its position in shares of FMC Technologies by 7.8% during the 2nd quarter. BlackRock Inc. now owns 21,731,728 shares of the oil and gas company’s stock worth $591,104,000 after purchasing an additional 1,571,751 shares during the last quarter. State Street Corp increased its position in shares of FMC Technologies by 2.0% during the 2nd quarter. State Street Corp now owns 20,888,596 shares of the oil and gas company’s stock worth $568,171,000 after purchasing an additional 417,151 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its position in shares of FMC Technologies by 5,960.8% during the 1st quarter. OppenheimerFunds Inc. now owns 13,171,232 shares of the oil and gas company’s stock worth $428,601,000 after purchasing an additional 12,953,913 shares during the last quarter. 65.36% of the stock is currently owned by hedge funds and other institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for FMC Technologies (NYSE:FTI)

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