FMC (NYSE:FMC) Updates FY 2024 Earnings Guidance

FMC (NYSE:FMC) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 3.230-4.410 for the period, compared to the consensus earnings per share estimate of 3.780. The company issued revenue guidance of $4.5 billion-$4.7 billion, compared to the consensus revenue estimate of $4.5 billion. FMC also updated its FY24 guidance to $3.23-4.41 EPS.

Analysts Set New Price Targets

FMC has been the topic of several analyst reports. StockNews.com lowered FMC from a hold rating to a sell rating in a report on Thursday, April 18th. Mizuho lowered their price target on shares of FMC from $59.00 to $55.00 and set a neutral rating on the stock in a report on Tuesday, February 6th. BMO Capital Markets decreased their price objective on shares of FMC from $63.00 to $61.00 and set a market perform rating for the company in a research report on Wednesday, February 7th. Loop Capital upped their price objective on shares of FMC from $55.00 to $65.00 and gave the stock a hold rating in a research report on Tuesday, March 19th. Finally, Wolfe Research initiated coverage on shares of FMC in a research report on Friday, March 1st. They issued a peer perform rating for the company. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $71.75.

FMC Stock Down 1.4 %

Shares of NYSE FMC traded down $0.87 during mid-day trading on Monday, reaching $60.98. The company had a trading volume of 1,904,997 shares, compared to its average volume of 1,929,391. The company has a current ratio of 1.52, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. FMC has a 52-week low of $49.49 and a 52-week high of $114.66. The stock has a market cap of $7.61 billion, a P/E ratio of 5.79, a PEG ratio of 1.99 and a beta of 0.88. The firm has a 50 day simple moving average of $60.27 and a two-hundred day simple moving average of $57.83.

FMC (NYSE:FMC) last announced its earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.13). The firm had revenue of $918.00 million during the quarter, compared to analyst estimates of $1.01 billion. FMC had a net margin of 29.45% and a return on equity of 12.98%. The firm’s revenue for the quarter was down 31.7% compared to the same quarter last year. During the same period last year, the company earned $1.77 earnings per share. Sell-side analysts predict that FMC will post 3.88 earnings per share for the current year.

FMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.32 dividend on an annualized basis and a yield of 3.80%. FMC’s dividend payout ratio is presently 22.03%.

Insiders Place Their Bets

In other FMC news, CFO Andrew D. Sandifer purchased 2,150 shares of FMC stock in a transaction on Monday, March 4th. The shares were bought at an average price of $59.22 per share, with a total value of $127,323.00. Following the completion of the acquisition, the chief financial officer now directly owns 50,088 shares of the company’s stock, valued at $2,966,211.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.81% of the stock is owned by insiders.

FMC Company Profile

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 includes 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.