FMC (NYSE:FMC) Releases Q2 Earnings Guidance

FMC (NYSE:FMC) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.43-0.72 for the period, compared to the consensus earnings per share estimate of $0.67. The company issued revenue guidance of $1.00-1.15 billion, compared to the consensus revenue estimate of $1.06 billion. FMC also updated its FY 2024 guidance to 3.230-4.410 EPS.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. UBS Group raised shares of FMC from a neutral rating to a buy rating and upped their target price for the company from $61.00 to $84.00 in a report on Wednesday, March 20th. BNP Paribas downgraded FMC from an outperform rating to a neutral rating and set a $56.00 price objective for the company. in a research note on Wednesday, February 7th. Mizuho upped their price objective on FMC from $55.00 to $57.00 and gave the company a neutral rating in a research note on Tuesday. StockNews.com raised FMC from a sell rating to a hold rating in a research note on Wednesday. Finally, Loop Capital upped their price objective on FMC from $55.00 to $65.00 and gave the company a hold rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $71.69.

FMC Stock Up 2.6 %

FMC stock traded up $1.69 during midday trading on Thursday, hitting $66.53. 285,309 shares of the company were exchanged, compared to its average volume of 1,971,800. The company’s fifty day moving average price is $60.99 and its 200-day moving average price is $57.84. The company has a market cap of $8.30 billion, a PE ratio of 6.16, a price-to-earnings-growth ratio of 1.99 and a beta of 0.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.01. FMC has a fifty-two week low of $49.49 and a fifty-two week high of $112.10.

FMC (NYSE:FMC) last released its quarterly earnings results on Monday, May 6th. The basic materials company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. FMC had a return on equity of 12.98% and a net margin of 29.45%. The firm had revenue of $918.00 million for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company posted $1.77 EPS. FMC’s revenue for the quarter was down 31.7% on a year-over-year basis. On average, research analysts predict that FMC will post 3.88 EPS for the current fiscal 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 issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.32 annualized dividend and a yield of 3.49%. FMC’s dividend payout ratio is presently 22.03%.

Insiders Place Their Bets

In other FMC news, CFO Andrew D. Sandifer acquired 2,150 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $2,966,211.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.81% of the stock is owned by company 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.