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What Analysts Recommend for TechnipFMC after Q2 Earnings

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Wall Street’s forecasts for TechnipFMC

In this article, we’ll look at Wall Street’s forecasts for TechnipFMC (FTI) stock following its Q2 2018 earnings release.

Analysts’ rating for TechnipFMC

As of July 25, the day TechnipFMC released its Q2 2018 earnings, approximately 67% of Wall Street analysts tracking TechnipFMC rated it a “buy” or some equivalent. Approximately 27% rated the company a “hold,” and 6% of sell-side analysts recommended a “sell.” In comparison, approximately 83% of sell-side analysts recommended a “buy” for Basic Energy Services (BAS) as of July 25, while 17% rated it a “hold.”

Analysts’ rating changes for FTI

From April 25 to July 25, the percentage of analysts recommending a “buy” or some equivalent for FTI has increased from 63% to 67%. Analysts’ “sell” recommendations decreased during the same period. As of July 25, approximately 50% of sell-side analysts recommended a “buy” for FTI.

Analysts’ target prices for FTI and its peers

Wall Street analysts’ mean target price for TechnipFMC as of July 25 was $35.9. FTI is currently trading at ~$29.9, implying ~20% upside at its current price. Analysts’ average target price for FTI was $36.4 a month ago.

The mean target price among sell-side analysts for Dril-Quip (DRQ) was $44.5 as of July 25. DRQ is currently trading at $56, implying nearly 21% potential downside at its current price. Sell-side analysts’ mean target price for Covia Holdings (CVIA) was $29.3 as of July 25. CVIA is currently trading at ~$16.1, implying 82% upside at its current price.

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

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