FMC Technologies Inc. (NYSE:FTI) announced its earnings results on Wednesday. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. FMC Technologies had a return on equity of 13.44% and a net margin of 2.99%. The company earned $1.09 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the business posted $0.61 EPS. FMC Technologies’s revenue for the quarter was down 29.4% on a year-over-year basis.
FMC Technologies (NYSE:FTI) traded up 1.09% during mid-day trading on Wednesday, hitting $31.49. The company had a trading volume of 4,131,182 shares. FMC Technologies has a 52-week low of $22.30 and a 52-week high of $35.93. The stock’s 50 day moving average price is $29.13 and its 200 day moving average price is $27.80. The firm has a market cap of $7.10 billion, a P/E ratio of 45.05 and a beta of 1.14.
A number of brokerages recently commented on FTI. Seaport Global Securities cut FMC Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the company from $29.00 to $28.00 in a report on Thursday, September 22nd. Citigroup Inc. raised their target price on FMC Technologies from $29.00 to $31.00 and gave the company a “neutral” rating in a report on Monday, September 12th. Capital One Financial Corp. upgraded FMC Technologies from an “equal weight” rating to an “overweight” rating and set a $36.00 target price for the company in a report on Thursday, August 25th. Nomura set a $26.00 target price on FMC Technologies and gave the company a “hold” rating in a report on Tuesday, August 16th. Finally, Jefferies Group restated a “hold” rating on shares of FMC Technologies in a report on Friday, August 5th. Fifteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $31.56.
In related news, VP Sanjay Bhatia sold 2,800 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $28.44, for a total value of $79,632.00. Following the completion of the transaction, the vice president now owns 48,943 shares of the company’s stock, valued at $1,391,938.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.86% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. increased its position in shares of FMC Technologies by 25.3% in the second quarter. Pacer Advisors Inc. now owns 4,534 shares of the company’s stock worth $121,000 after buying an additional 916 shares in the last quarter. Euclid Advisors LLC acquired a new position in shares of FMC Technologies during the second quarter worth approximately $160,000. Invictus RG increased its position in shares of FMC Technologies by 1,964.8% in the second quarter. Invictus RG now owns 7,268 shares of the company’s stock worth $194,000 after buying an additional 6,916 shares in the last quarter. 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 in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of FMC Technologies by 40.2% in the second quarter. Janney Montgomery Scott LLC now owns 11,203 shares of the company’s stock worth $325,000 after buying an additional 3,212 shares in the last quarter. 89.61% of the stock is owned by hedge funds and other institutional investors.
About FMC Technologies
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.
Receive News & Ratings for FMC Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FMC Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.