Citigroup Maintains FMC Technologies to Neutral with Price Target $31.00

Brokerage firm Citigroup Maintains its rating on FMC Technologies(NYSE:FTI). In a research note issued to the investors, the brokerage major Raises the price-target to $31.00 per share. The shares have been rated Neutral. The rating by Citigroup was issued on Sep 12, 2016.

In a different note, On Aug 25, 2016, Capital One Financial said it Upgrades its rating on FMC Technologies. The shares have been rated ‘Overweight’ by the firm.

FMC Technologies (FTI) made into the market gainers list on Tuesdays trading session with the shares advancing 0.15% or 0.04 points. Due to strong positive momentum, the stock ended at $27.55, which is also near the day’s high of $27.765. The stock began the session at $27.53 and the volume stood at 51,89,771 shares. The 52-week high of the shares is $35.93 and the 52 week low is $22.3. The company has a current market capitalization of $6,216 M and it has 22,56,26,660 shares in outstanding.

FMC Technologies(FTI) last announced its earnings results on Jul 20, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.15B. Analysts had an estimated revenue of $1.26B. Earnings per share were $0.22. Analysts had estimated an EPS of $0.30.

Several Insider Transactions has been reported to the SEC. On Aug 23, 2016, Sanjay Bhatia (VP, Corporate Development) sold 2,800 shares at $28.44 per share price.Also, On Feb 22, 2016, Bradley D. Beitler (V.P., Technology) sold 2,836 shares at $24.64 per share price.On Jan 4, 2016, Maryann T. Mannen (EVP and CFO) sold 8,500 shares at $29.50 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.

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