Q4 2023 EPS Estimates for FMC Co. Cut by Analyst (NYSE:FMC)

Posted by Defense World Staff on Jul 13th, 2023

FMC Co. (NYSE:FMC – Free Report) – Research analysts at KeyCorp dropped their Q4 2023 earnings estimates for FMC in a research report issued on Monday, July 10th. KeyCorp analyst A. Yefremov now expects that the basic materials company will post earnings per share of $2.24 for the quarter, down from their previous estimate of $2.43. The consensus estimate for FMC’s current full-year earnings is $7.74 per share. KeyCorp also issued estimates for FMC’s FY2024 earnings at $8.09 EPS.

FMC has been the subject of a number of other reports. Mizuho cut their target price on FMC from $147.00 to $127.00 in a research note on Tuesday. Royal Bank of Canada cut their target price on FMC from $135.00 to $105.00 in a research note on Tuesday. Loop Capital lowered their target price on shares of FMC from $148.00 to $118.00 in a research note on Tuesday. Redburn Partners raised shares of FMC from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a research note on Friday, March 17th. Finally, Wells Fargo & Company lowered their target price on shares of FMC from $148.00 to $142.00 in a research note on Wednesday, May 3rd. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $129.38.

FMC Stock Up 1.7 %

NYSE FMC opened at $95.47 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.88 and a current ratio of 1.29. The firm has a 50-day simple moving average of $106.16 and a 200 day simple moving average of $118.28. FMC has a twelve month low of $88.77 and a twelve month high of $134.38. The stock has a market cap of $11.94 billion, a PE ratio of 16.66, a PEG ratio of 1.35 and a beta of 0.81.

FMC (NYSE:FMC – Get Free Report) last released its earnings results on Monday, May 1st. The basic materials company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.04. FMC had a net margin of 12.51% and a return on equity of 27.91%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the company earned $1.88 earnings per share. The firm’s revenue was down .7% on a year-over-year basis.

FMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 20th. Investors of record on Friday, June 30th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $2.32 annualized dividend and a yield of 2.43%. FMC’s dividend payout ratio (DPR) is presently 40.49%.

Insider Activity at FMC

In other FMC news, CEO Mark Douglas acquired 4,121 shares of the company’s stock in a transaction on Wednesday, May 3rd. The stock was acquired at an average price of $115.53 per share, for a total transaction of $476,099.13. Following the purchase, the chief executive officer now directly owns 41,672 shares of the company’s stock, valued at $4,814,366.16. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FMC

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in FMC by 1.9% during the first quarter. Vanguard Group Inc. now owns 14,067,888 shares of the basic materials company’s stock worth $1,850,913,000 after buying an additional 258,552 shares in the last quarter. BlackRock Inc. lifted its stake in FMC by 2.0% during the first quarter. BlackRock Inc. now owns 11,637,405 shares of the basic materials company’s stock worth $1,421,276,000 after purchasing an additional 228,436 shares during the last quarter. State Street Corp lifted its stake in FMC by 1.8% during the first quarter. State Street Corp now owns 5,683,520 shares of the basic materials company’s stock worth $697,341,000 after purchasing an additional 101,627 shares during the last quarter. Geode Capital Management LLC raised its stake in FMC by 2.3% during the first quarter. Geode Capital Management LLC now owns 2,613,319 shares of the basic materials company’s stock worth $318,445,000 after acquiring an additional 58,568 shares in the last quarter. Finally, Morgan Stanley grew its stake in shares of FMC by 80.7% during the fourth quarter. Morgan Stanley now owns 2,557,733 shares of the basic materials company’s stock worth $319,205,000 after buying an additional 1,142,531 shares during the last quarter. Institutional investors own 86.95% of the company’s stock.

FMC Company Profile

(Get Free Report)

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.