Energy play TechnipFMC closed higher Thursday for a fourth day in a row as it nears completion of a double-bottom base with a 32.90 buy point. It traded at 31.21 Thursday afternoon just below the entry. Also on Thursday, TechnipFMC stock got a significant upgrade to its Relative Strength (RS) Rating, from 80 to 83.
The raised 83 RS Rating shows that shares of the maker of systems for on-land and offshore oil drilling bested 83% of all stocks for price performance this past year. It's a notable change because the market's winners typically have an RS Rating north of 80 as they launch their biggest price moves.
TechnipFMC Quarterly Profits Surged This Past Year
The U.K.-based company reported a 50% surge in EPS in its most recent quarter, to 33 cents per share. Sales increased 9% to $2.23 billion. Although still strong, the 50% rise in EPS was down from gains of 330%, 205% and 286% the prior three stanzas. Analyst consensus is for a smaller, though still healthy, 35% hike in EPS for the current quarter on a 7% rise in revenue, according to FactSet.
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TechnipFMC's other key ratings include an adequate 79 Earnings Per Share Rating and an 84 Composite Rating, situating it in the top 16% of stocks overall. Additionally, its B Accumulation/Distribution Rating on an A-to-E scale with A tops shows that ETFs, mutual funds and the like are fairly heavy buyers of its stock.
Ranks No. 2 In Its Industry
TechnipFMC earns the No. 2 rank among its peers in the Oil & Gas-Machinery/Equipment industry group. Archrock is the top-ranked stock within the group.
The unique IBD Relative Strength Rating identifies technical performance by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
Please follow James DeTar on Twitter @JimDeTar
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