FMC Technologies (FTI) is Downgraded by Barclays to Equal Weight, Lowers Price Target to $ 33

FMC Technologies (FTI) was Downgraded by Barclays to ” Equal Weight” while Lowering the Price Target of the company shares to $ 33 from a previous price target of $37 . Earlier the firm had a rating of “Overweight ” on the company shares. Barclays advised their investors in a research report released on May 20, 2016.

Many Wall Street Analysts have commented on FMC Technologies. 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 was Initiated by Nomura to “Neutral” on Apr 8, 2016.

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 closed down -1.35 points or -4.71% at $27.3 with 90,88,882 shares getting traded on Thursday. Post opening the session at $29.01, the shares hit an intraday low of $27.29 and an intraday high of $29.01 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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