Research Analysts Issue Forecasts for FMC Corporation’s Q3 2017 Earnings (FMC)
FMC Corporation (NYSE:FMC) – Stock analysts at First Analysis issued their Q3 2017 earnings estimates for FMC Corporation in a research note issued on Wednesday. First Analysis analyst expects that the basic materials company will post earnings per share of $0.64 for the quarter. First Analysis also issued estimates for FMC Corporation’s Q4 2017 earnings at $0.87 EPS, FY2017 earnings at $2.42 EPS and FY2018 earnings at $5.12 EPS.
FMC Corporation (NYSE:FMC) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. FMC Corporation had a net margin of 1.58% and a return on equity of 16.51%. The business had revenue of $656.80 million for the quarter, compared to analyst estimates of $614.01 million. During the same quarter in the prior year, the business earned $0.46 EPS. FMC Corporation’s quarterly revenue was up 6.7% on a year-over-year basis.
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A number of other research analysts have also weighed in on the stock. Piper Jaffray Companies reissued a “hold” rating and set a $85.00 price target on shares of FMC Corporation in a research report on Tuesday, September 5th. Bank of America Corporation raised shares of FMC Corporation from an “underperform” rating to a “buy” rating and raised their price target for the company from $66.00 to $103.00 in a research report on Thursday, August 31st. Jefferies Group LLC set a $100.00 price target on shares of FMC Corporation and gave the company a “buy” rating in a research report on Monday, August 14th. Instinet upgraded shares of FMC Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $78.00 to $97.00 in a report on Wednesday, August 9th. Finally, Susquehanna Bancshares Inc raised their price objective on shares of FMC Corporation from $86.00 to $100.00 and gave the stock a “positive” rating in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. FMC Corporation has an average rating of “Buy” and an average price target of $84.49.
FMC Corporation (FMC) opened at 87.14 on Friday. The firm has a market cap of $11.69 billion, a price-to-earnings ratio of 258.58 and a beta of 1.60. The company has a 50-day moving average of $82.81 and a 200-day moving average of $73.55. FMC Corporation has a 52 week low of $44.40 and a 52 week high of $88.19.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Friday, September 29th will be paid a $0.165 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.66 annualized dividend and a dividend yield of 0.76%. FMC Corporation’s payout ratio is 188.58%.
In other news, VP Andrea E. Utecht sold 14,174 shares of FMC Corporation stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $84.00, for a total value of $1,190,616.00. Following the completion of the transaction, the vice president now owns 131,639 shares in the company, valued at $11,057,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Douglas sold 12,697 shares of FMC Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $75.82, for a total transaction of $962,686.54. Following the completion of the transaction, the insider now owns 73,690 shares of the company’s stock, valued at approximately $5,587,175.80. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Levin Capital Strategies L.P. purchased a new position in shares of FMC Corporation in the first quarter worth about $1,209,000. Acrospire Investment Management LLC increased its stake in shares of FMC Corporation by 522.9% in the first quarter. Acrospire Investment Management LLC now owns 1,906 shares of the basic materials company’s stock worth $133,000 after purchasing an additional 1,600 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of FMC Corporation by 47.2% in the first quarter. TIAA CREF Investment Management LLC now owns 616,798 shares of the basic materials company’s stock worth $42,923,000 after purchasing an additional 197,694 shares in the last quarter. Waratah Capital Advisors Ltd. purchased a new position in shares of FMC Corporation in the first quarter worth about $1,319,000. Finally, Frontier Capital Management Co. LLC increased its stake in shares of FMC Corporation by 18.6% in the first quarter. Frontier Capital Management Co. LLC now owns 1,500,898 shares of the basic materials company’s stock worth $104,447,000 after purchasing an additional 235,702 shares in the last quarter. Hedge funds and other institutional investors own 90.45% of the company’s stock.
About FMC Corporation
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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