Zacks Research Comments on FMC Co.’s Q1 2024 Earnings (NYSE:FMC)

Posted by on Jun 26th, 2023

FMC Co. (NYSE:FMC – Get Rating) – Investment analysts at Zacks Research cut their Q1 2024 earnings estimates for shares of FMC in a research report issued on Friday, June 23rd. Zacks Research analyst A. Barman now anticipates that the basic materials company will post earnings of $2.10 per share for the quarter, down from their prior forecast of $2.11. The consensus estimate for FMC’s current full-year earnings is $7.77 per share. Zacks Research also issued estimates for FMC’s Q2 2024 earnings at $2.24 EPS, FY2024 earnings at $8.66 EPS, Q1 2025 earnings at $2.32 EPS and FY2025 earnings at $9.73 EPS.

FMC (NYSE:FMC – Get Rating) last issued its quarterly earnings data on Monday, May 1st. The basic materials company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.04. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.43 billion. FMC had a net margin of 12.51% and a return on equity of 27.91%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.88 EPS.

FMC has been the topic of a number of other research reports. Wells Fargo & Company cut their target price on shares of FMC from $148.00 to $142.00 in a research note on Wednesday, May 3rd. StockNews.com initiated coverage on shares of FMC in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Mizuho dropped their price objective on shares of FMC from $150.00 to $147.00 in a research note on Wednesday, May 3rd. Redburn Partners upgraded shares of FMC from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Friday, March 17th. Finally, Royal Bank of Canada dropped their price objective on shares of FMC from $140.00 to $136.00 in a research note on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $144.75.

FMC Stock Performance

Shares of FMC stock opened at $105.73 on Monday. The firm has a market cap of $13.22 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 1.36 and a beta of 0.82. The firm’s 50-day simple moving average is $111.26 and its 200-day simple moving average is $120.37. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.88 and a current ratio of 1.29. FMC has a 1 year low of $98.24 and a 1 year high of $134.38.

FMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 20th. Shareholders of record on Friday, June 30th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Thursday, June 29th. FMC’s dividend payout ratio (DPR) is 40.49%.

Insider Activity

In related news, CEO Mark Douglas acquired 4,121 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was acquired at an average cost of $115.53 per share, for a total transaction of $476,099.13. Following the completion of the acquisition, the chief executive officer now directly owns 41,672 shares of the company’s stock, valued at approximately $4,814,366.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.85% of the company’s stock.

Institutional Trading of FMC

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. General Partner Inc. acquired a new stake in FMC during the fourth quarter valued at approximately $26,000. Neo Ivy Capital Management lifted its stake in FMC by 533.3% during the fourth quarter. Neo Ivy Capital Management now owns 228 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 192 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in FMC by 68.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 228 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 93 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in FMC during the first quarter valued at approximately $33,000. Finally, Orion Capital Management LLC acquired a new stake in FMC during the first quarter valued at approximately $40,000. 86.95% of the stock is owned by institutional investors and hedge funds.

FMC Company Profile

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FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. It develops, markets, and sells crop protection chemicals that include insecticides, herbicides, and fungicides; and biologicals, crop nutrition, and seed treatment products, which are used in agriculture to enhance crop yield and quality by controlling a range of insects, weeds, and diseases, as well as in non-agricultural markets for pest control.

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Earnings History and Estimates for FMC (NYSE:FMC)

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