FMC Technologies (FTI) reported quarterly earnings results on Wednesday, Jul-20-2016. The company reported $0.22 earnings per share for the quarter, missing the analyst consensus estimate by $-0.07. Analysts had a consensus of $0.29. The company posted revenue of $1150.00 million in the period, compared to analysts expectations of $1260.59 million. The company’s revenue was down -32.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.
Many Wall Street Analysts have commented on FMC Technologies. Shares were Downgraded by Barclays on May 20, 2016 to ” Equal Weight” and Lowered the Price Target to $ 33 from a previous price target of $37 .Company shares were Reiterated by Cowen on Apr 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 35 from a previous price target of $29 .Company shares were Reiterated by RBC Capital Mkts on Apr 28, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 32 from a previous price target of $29 .
FMC Technologies opened for trading at $27.18 and hit $27.71 on the upside on Monday, eventually ending the session at $27.7, with a gain of 1.39% or 0.38 points. The heightened volatility saw the trading volume jump to 20,78,918 shares. Company has a market cap of $6,270 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.