Wall Street’s Forecasts for TechnipFMC ahead of Q2 Results

Wall Street’s forecasts for TechnipFMC

In this article, we’ll look at Wall Street analysts’ forecasts for TechnipFMC (FTI) before its Q2 2018 earnings.Wall Street’s Forecasts for TechnipFMC ahead of Q2 Results

Analysts’ rating for TechnipFMC

As of July 10, 66% of Wall Street analysts tracking TechnipFMC rated it a “buy” or some equivalent. Approximately 28% of the analysts tracking FTI have recommended a “hold,” while 6% rated it a “sell” or some equivalent.

By comparison, ~73% of sell-side analysts tracking Patterson-UTI Energy (PTEN) rated it a “buy” or some equivalent as of July 10, while 23% recommended a “hold,” according to data compiled by Reuters.

Analysts’ rating changes for FTI

From April 10 to July 10, 2018, the percentage of analysts recommending a “buy” or some equivalent for FTI has increased from 56% to 66%. Analysts’ “hold” and “sell” recommendations, however, have decreased during this period. As of July 10, 2017, ~53% of sell-side analysts recommended a “buy” for FTI.

Analysts’ target prices for FTI and its peers

Wall Street analysts’ mean target price for FTI as of July 10, 2018, was ~$36.0. FTI is currently trading at ~$31.9, implying ~13% upside at its current mean price. A month ago, analysts’ average target price for FTI was $36.2.

The mean target price among sell-side analysts for Helix Energy Solutions Group (HLX) was $8.8 as of July 10. HLX is currently trading at ~$8.6, implying nearly 3% returns at its current price. The mean target price, surveyed among the sell-side analysts for Key Energy Services (KEG) was ~$18.2 as of July 10. KEG is currently trading at ~$17.1, implying 7% upside at its current price.

Learn more about the OFS industry in Market Realist’s The Oilfield Equipment and Services Industry: A Primer.