FMC Technologies (FTI) is Reiterated by Cowen to Outperform, Raises Price Target to $ 35

FMC Technologies (FTI) was Reiterated by Cowen to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 35 from a previous price target of $29 . Cowen advised their investors in a research report released on Apr 28, 2016.

Many Wall Street Analysts have commented on FMC Technologies. FMC Technologies was Initiated by Nomura to “Neutral” on Apr 8, 2016. FMC Technologies was Upgraded by Goldman to ” Buy” on Mar 11, 2016. Shares were Reiterated by FBR Capital on Feb 29, 2016 to “Mkt Perform” and Lowered the Price Target to $ 28 from a previous price target of $31 .

On the company’s financial health, FMC Technologies reported $0.22 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus of $0.30. The company had revenue of $1208.70 million for the quarter, compared to analysts expectations of $1278.48 million. The company’s revenue was down -28.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.63 EPS.

FMC Technologies opened for trading at $29.24 and hit $31.05 on the upside on Wednesday, eventually ending the session at $30.35, with a gain of 6.49% or 1.85 points. The heightened volatility saw the trading volume jump to 59,08,098 shares. Company has a market cap of $6,887 M.

In a different news, on Feb 22, 2016, Bradley D. Beitler (V.P., Technology) sold 2,836 shares at $24.64 per share price. According to the SEC, on Jan 4, 2016, Maryann T. Mannen (EVP and CFO) sold 8,500 shares at $29.50 per share price. On Jul 28, 2015, Sanjay Bhatia (VP. Corp. Devel.) purchased 3,300 shares at $32.85 per share price, according to the Form-4 filing with the securities and exchange commission.

FMC Technologies Inc. is a provider of technology solutions for the energy industry. The Company’s segments include Subsea Technologies Surface Technologies and Energy Infrastructure. Subsea Technologies designs and manufactures products and systems and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas. Surface Technologies designs and manufactures systems and provides services used by oil and gas companies involved in land and offshore exploration and production of crude oil and gas; designs manufactures and supplies high pressure valves and fittings for oilfield service companies and also provides flowback and wireline services for exploration companies. Energy Infrastructure manufactures and supplies liquid and gas measurement and transportation equipment and systems for the production transportation and processing of crude oil natural gas and petroleum-based refined products and the mining industry.

FMC Technologies

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