FMC Technologies (FTI) Stock Down on Q2 Earnings Miss
NEW YORK (TheStreet) -- Shares of FMC Technologies (FTI) - Get Report are declining 2.09% to $27.16 on heavy trading volume late Thursday afternoon after the Houston-based company posted earnings and revenue that fell short of analysts' expectations.
After yesterday's closing bell, the company reported adjusted earnings of 22 cents per share, lower than analysts' estimates of 30 cents per share.
Revenue came in at $1.2 billion, while analysts were projecting revenue of $1.26 billion.
FMC is a provider of technology solutions for the energy industry.
About 5.01 million of the company's shares were traded so far today vs. its average volume of 2.97 million shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that were evaluated.
But the team also finds weaknesses including feeble growth in the company's earnings per share, poor profit margins and weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: FTI