FMC Corp. to Post FY2016 Earnings of $2.81 Per Share, Gabelli Forecasts (FMC)
FMC Corp. (NYSE:FMC) – Equities researchers at Gabelli issued their FY2016 earnings per share estimates for shares of FMC Corp. in a research note issued on Thursday. Gabelli analyst R. Morbelli expects that the brokerage will earn $2.81 per share for the year.
Several other analysts have also recently issued reports on the stock. Jefferies Group reaffirmed a “buy” rating and set a $58.00 price objective on shares of FMC Corp. in a research note on Thursday, September 29th. Nomura reissued a “hold” rating on shares of FMC Corp. in a research note on Thursday, November 3rd. Susquehanna increased their price target on shares of FMC Corp. from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, August 26th. Credit Suisse Group AG reissued a “hold” rating and issued a $44.00 price target on shares of FMC Corp. in a research note on Wednesday, August 3rd. Finally, Zacks Investment Research raised shares of FMC Corp. from a “sell” rating to a “hold” rating and set a $59.00 price target for the company in a research note on Friday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $45.67.
FMC Corp. (NYSE:FMC) opened at 54.00 on Monday. The stock’s market capitalization is $7.23 billion. FMC Corp. has a one year low of $32.24 and a one year high of $55.55. The company’s 50-day moving average is $48.58 and its 200 day moving average is $47.61.
FMC Corp. (NYSE:FMC) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.08. The company had revenue of $808 million for the quarter, compared to analyst estimates of $674.10 million. FMC Corp. had a negative net margin of 0.33% and a positive return on equity of 18.06%. FMC Corp.’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.42 earnings per share.
Large investors have recently added to or reduced their stakes in the company. DAVENPORT & Co LLC raised its stake in FMC Corp. by 16.0% in the second quarter. DAVENPORT & Co LLC now owns 148,463 shares of the company’s stock worth $6,875,000 after buying an additional 20,430 shares during the period. Exxonmobil Investment Management Inc. TX raised its stake in FMC Corp. by 6.4% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 34,622 shares of the company’s stock worth $1,603,000 after buying an additional 2,080 shares during the period. British Columbia Investment Management Corp raised its stake in FMC Corp. by 112.8% in the second quarter. British Columbia Investment Management Corp now owns 44,754 shares of the company’s stock worth $2,073,000 after buying an additional 23,720 shares during the period. BNP Paribas Arbitrage SA raised its stake in FMC Corp. by 118.6% in the second quarter. BNP Paribas Arbitrage SA now owns 49,995 shares of the company’s stock worth $2,315,000 after buying an additional 27,127 shares during the period. Finally, Euclid Advisors LLC acquired a new stake in FMC Corp. during the first quarter worth about $245,000. Institutional investors own 94.70% of the company’s stock.
FMC Corp. Company Profile
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates through three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. The Company’s FMC Agricultural Solutions segment develops, markets and sells over three classes of crop protection chemicals, including insecticides, herbicides and fungicides.
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