FMC (NYSE:FMC) Updates Q2 2024 Earnings Guidance

FMC (NYSE:FMC) updated its second quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 0.430-0.720 for the period, compared to the consensus EPS estimate of 0.680. The company issued revenue guidance of $1.0 billion-$1.2 billion, compared to the consensus revenue estimate of $1.1 billion. FMC also updated its FY 2024 guidance to 3.230-4.410 EPS.

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 1,946,812 shares, compared to its average volume of 1,929,871. 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 company has a current ratio of 1.52, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. 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 posted its earnings results on Monday, May 6th. The basic materials company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.13). The firm had revenue of $918.00 million for the quarter, compared to analyst estimates of $1.01 billion. FMC had a return on equity of 12.98% and a net margin of 29.45%. The firm’s revenue for the quarter was down 31.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 EPS. Sell-side analysts predict that FMC will post 3.88 earnings per share for the current year.

FMC Announces Dividend

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

Analyst Ratings Changes

FMC has been the topic of several research reports. UBS Group raised shares of FMC from a neutral rating to a buy rating and raised their price objective for the stock from $61.00 to $84.00 in a research report on Wednesday, March 20th. BMO Capital Markets dropped their price target on FMC from $63.00 to $61.00 and set a market perform rating on the stock in a research report on Wednesday, February 7th. Loop Capital lifted their target price on FMC from $55.00 to $65.00 and gave the company a hold rating in a research note on Tuesday, March 19th. BNP Paribas downgraded FMC from an outperform rating to a neutral rating and set a $56.00 price target for the company. in a report on Wednesday, February 7th. Finally, KeyCorp boosted their price objective on shares of FMC from $76.00 to $79.00 and gave the company an overweight rating in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, FMC currently has a consensus rating of Hold and an average price target of $71.75.

Insider Transactions at FMC

In other news, CFO Andrew D. Sandifer acquired 2,150 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were bought at an average cost of $59.22 per share, for a total transaction of $127,323.00. Following the acquisition, the chief financial officer now directly owns 50,088 shares in the company, valued at approximately $2,966,211.36. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.81% of the company’s stock.

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.