FMC (FMC) Scheduled to Post Quarterly Earnings on Monday

Posted by Defense World Staff on Apr 24th, 2023

FMC (NYSE:FMC – Get Rating) will be announcing its earnings results after the market closes on Monday, May 1st. Analysts expect the company to announce earnings of $1.74 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

FMC (NYSE:FMC – Get Rating) last released its earnings results on Wednesday, February 8th. The basic materials company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.05. FMC had a return on equity of 29.29% and a net margin of 12.69%. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the firm earned $2.16 EPS. The firm’s revenue was up 14.7% on a year-over-year basis. On average, analysts expect FMC to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

FMC Trading Up 0.1 %

Shares of NYSE:FMC opened at $123.22 on Monday. The company has a market capitalization of $15.42 billion, a PE ratio of 21.17, a PEG ratio of 1.55 and a beta of 0.82. The company has a current ratio of 1.43, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. The business has a 50 day moving average of $123.27 and a two-hundred day moving average of $124.36. FMC has a 12-month low of $98.24 and a 12-month high of $136.96.

FMC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 20th. Stockholders of record on Friday, March 31st were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, March 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.88%. FMC’s dividend payout ratio is currently 39.86%.

Insider Activity at FMC

In other news, insider Nicholas Pfeiffer sold 4,421 shares of FMC stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $129.70, for a total value of $573,403.70. Following the transaction, the insider now directly owns 12,064 shares of the company’s stock, valued at $1,564,700.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Andrew D. Sandifer sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $127.77, for a total transaction of $638,850.00. Following the sale, the chief financial officer now directly owns 39,061 shares in the company, valued at $4,990,823.97. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nicholas Pfeiffer sold 4,421 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $129.70, for a total value of $573,403.70. Following the sale, the insider now owns 12,064 shares in the company, valued at $1,564,700.80. The disclosure for this sale can be found here. Insiders have sold 11,376 shares of company stock worth $1,465,016 over the last quarter. 0.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FMC

A number of hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in FMC in the fourth quarter valued at approximately $215,051,000. Morgan Stanley increased its position in shares of FMC by 80.7% during the 4th quarter. Morgan Stanley now owns 2,557,733 shares of the basic materials company’s stock worth $319,205,000 after purchasing an additional 1,142,531 shares during the last quarter. Invesco Ltd. increased its position in shares of FMC by 41.5% during the 1st quarter. Invesco Ltd. now owns 1,581,629 shares of the basic materials company’s stock worth $208,094,000 after purchasing an additional 463,542 shares during the last quarter. Eaton Vance Management increased its position in shares of FMC by 34.7% during the 1st quarter. Eaton Vance Management now owns 1,236,301 shares of the basic materials company’s stock worth $162,660,000 after purchasing an additional 318,212 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of FMC during the 4th quarter worth approximately $34,118,000. Institutional investors and hedge funds own 88.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FMC shares. BMO Capital Markets lifted their target price on shares of FMC from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, February 9th. Credit Suisse Group boosted their price target on shares of FMC from $112.00 to $120.00 and gave the company an “underperform” rating in a research note on Wednesday, February 8th. Wells Fargo & Company boosted their price target on shares of FMC from $141.00 to $148.00 and gave the company an “overweight” rating in a research note on Monday, January 9th. StockNews.com began coverage on FMC in a research note on Thursday, March 16th. They set a “buy” rating on the stock. Finally, UBS Group raised their target price on FMC from $142.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, January 11th. One investment analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $144.38.

FMC Company Profile

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FMC Corp. is an agricultural sciences company, which engages in the provision of solutions to growers and development of pipeline in crop protection, plant health, precision agriculture, and professional pest, and turf management. It offers insect control products under the Rynaxypyr and Cyazypyr brands, herbicides under the Authority, Boral, Centium, Command, and Gamit brands, insecticides under the Talstar and Hero brands, flutriafol-based fungicides, and bionematicides under the Quartzo and Presence brands.