FMC Co. (NYSE:FMC – Free Report) – Analysts at Seaport Res Ptn lowered their Q3 2023 EPS estimates for FMC in a note issued to investors on Tuesday, August 8th. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will earn $1.05 per share for the quarter, down from their prior estimate of $1.44. The consensus estimate for FMC’s current full-year earnings is $6.14 per share. Seaport Res Ptn also issued estimates for FMC’s Q3 2024 earnings at $1.50 EPS, Q4 2024 earnings at $2.86 EPS and FY2024 earnings at $7.82 EPS.
Several other brokerages have also weighed in on FMC. Loop Capital lowered their target price on shares of FMC from $148.00 to $118.00 in a research note on Tuesday, July 11th. Wells Fargo & Company lowered shares of FMC from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $142.00 to $102.00 in a research note on Monday, July 24th. BMO Capital Markets lowered their target price on shares of FMC from $145.00 to $120.00 in a research note on Tuesday, July 11th. StockNews.com initiated coverage on shares of FMC in a research note on Thursday, May 18th. They set a “hold” rating for the company. Finally, Royal Bank of Canada lowered their price objective on shares of FMC from $135.00 to $105.00 in a research note on Tuesday, July 11th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.08.
FMC Trading Up 1.5 %
Shares of FMC opened at $89.06 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.96 and a debt-to-equity ratio of 0.89. FMC has a 12-month low of $86.61 and a 12-month high of $134.38. The firm has a 50-day moving average price of $99.84 and a 200 day moving average price of $113.24. The firm has a market capitalization of $11.11 billion, a P/E ratio of 18.14, a P/E/G ratio of 1.42 and a beta of 0.80.
FMC (NYSE:FMC – Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). FMC had a net margin of 11.60% and a return on equity of 21.97%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the company posted $1.93 EPS. The company’s revenue for the quarter was down 30.1% compared to the same quarter last year.
FMC Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.58 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.32 dividend on an annualized basis and a yield of 2.60%. FMC’s payout ratio is currently 47.25%.
Hedge Funds Weigh In On FMC
A number of institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. grew its position in FMC by 9.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,326 shares of the basic materials company’s stock valued at $1,359,000 after buying an additional 908 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of FMC during the 1st quarter worth $191,000. Cibc World Market Inc. purchased a new stake in shares of FMC during the 1st quarter worth $224,000. Prudential PLC purchased a new stake in shares of FMC during the 1st quarter worth $383,000. Finally, National Pension Service boosted its position in shares of FMC by 872,245.0% during the 1st quarter. National Pension Service now owns 174,469 shares of the basic materials company’s stock worth $22,955,000 after purchasing an additional 174,449 shares in the last quarter. 86.95% of the stock is owned by institutional investors and hedge funds.
About FMC
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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