Citi Reaffirms Their Buy Rating on TechnipFMC (FTI)
Citi analyst Scott Gruber maintained a Buy rating on TechnipFMC yesterday and set a price target of $80.00.
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Gruber covers the Energy sector, focusing on stocks such as Halliburton, Nabors Industries, and Schlumberger. According to TipRanks, Gruber has an average return of 16.3% and a 59.96% success rate on recommended stocks.
In addition to Citi, TechnipFMC also received a Buy from Barclays’s David Anderson in a report issued on June 12. However, on June 3, Bernstein maintained a Hold rating on TechnipFMC (NYSE: FTI).
Based on TechnipFMC’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.49 billion and a net profit of $260.5 million. In comparison, last year the company earned a revenue of $2.24 billion and had a net profit of $142 million
Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FTI in relation to earlier this year. Last month, John Oleary, a Director at FTI sold 6,350.00 shares for a total of $462,216.50.
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