Susquehanna Thinks TechnipFMC PLC’s Stock is Going to Recover
According to The Fly, susquehanna analyst Charles Minervino reiterated a Buy rating on TechnipFMC PLC (FTI) today. The company’s shares opened today at $23.35, close to its 52-week low of $22.39.
According to TipRanks.com, Minervino is ranked 0 out of 5 stars with an average return of -17.1% and a 21.7% success rate. Minervino covers the Basic Materials sector, focusing on stocks such as Baker Hughes a GE company, Diamond Offshore Drilling, and Oil States International.
Currently, the analyst consensus on TechnipFMC PLC is a Strong Buy with an average price target of $35.83, representing a 53.4% upside. In a report issued on November 22, Jefferies also reiterated a Buy rating on the stock.
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Based on TechnipFMC PLC’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $137 million. In comparison, last year the company had a net profit of $121 million.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock.
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TechnipFMC Plc engages in the provision of solutions for the production and transformation of oil and gas. It operates through the following segments: Subsea, Onshore and Offshore, Surface Technologies, and Corporate.