FMC (NYSE:FMC) Stock Gets Price Target Boost from Citigroup

FMC (NYSE:FMC) had its price objective hoisted by equities research analysts at Citigroup from $6.00 to $7.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the basic materials company’s stock. Citigroup‘s target price would suggest a potential upside of 12.81% from the company’s current price.

Several other equities research analysts have also recently commented on FMC. Morgan Stanley cut their price target on FMC from $12.00 to $8.00 and set an “equal weight” rating for the company in a research note on Monday. BMO Capital Markets lowered their price objective on shares of FMC from $11.00 to $7.50 and set a “market perform” rating on the stock in a research report on Friday, October 16th. Seaport Research Partners set a $21.00 price objective on shares of FMC in a research report on Tuesday, August 4th. Royal Bank Of Canada dropped their price objective on shares of FMC from $9.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Monday. Finally, Mizuho set a $10.00 price objective on shares of FMC in a research report on Thursday, October 15th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, FMC presently has an average rating of “Reduce” and a consensus price target of $10.71.

FMC Stock Performance

NYSE FMC traded down $0.29 during trading on Tuesday, reaching $6.21. The company’s stock had a trading volume of 3,302,361 shares, compared to its average volume of 4,390,387. The business’s fifty day moving average price is $9.03 and its 200-day moving average price is $12.42. FMC has a twelve month low of $4.37 and a twelve month high of $18.29. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.48 and a current ratio of 1.99. The firm has a market cap of $777.03 million, a price-to-earnings ratio of -0.19 and a beta of 0.45.

FMC (NYSE:FMC) last released its quarterly earnings results on Thursday, October 29th. The basic materials company reported ($4.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($4.49). The company had revenue of $105.90 million for the quarter, compared to analysts’ expectations of $487.63 million. FMC had a positive return on equity of 11.35% and a negative net margin of 84.83%. The business’s quarterly revenue was down 80.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 EPS. As a group, analysts anticipate that FMC will post -3.58 EPS for the current fiscal year.

Institutional Trading of FMC

Hedge funds have recently modified their holdings of the business. Root Financial Partners LLC boosted its stake in shares of FMC by 3,642.9% in the first quarter. Root Financial Partners LLC now owns 1,834 shares of the basic materials company’s stock valued at $32,000 after buying an additional 1,785 shares in the last quarter. Essential Partners LLC purchased a new position in FMC in the first quarter worth $43,000. IFP Advisors Inc lifted its holdings in FMC by 99.0% in the second quarter. IFP Advisors Inc now owns 2,726 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 1,356 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its holdings in FMC by 1,292.2% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 3,411 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 3,166 shares during the period. Finally, Nykredit A S purchased a new stake in shares of FMC during the 2nd quarter worth $55,000. 91.86% of the stock is owned by institutional investors and hedge funds.

Key FMC News

Here are the key news stories impacting FMC this week:

• Negative Sentiment: UBS cut its price target from $10 to $6.50 and maintained a “neutral” rating. Although the revised target implies modest upside, the reduction reflects lower expectations for FMC’s recovery. UBS FMC rating
• Negative Sentiment: Morgan Stanley lowered its target from $12 to $8 and assigned an “equal weight” rating, citing a more limited near-term upside outlook. Morgan Stanley FMC rating
• Negative Sentiment: RBC reduced its target from $9 to $7 while maintaining a “sector perform” rating. The target still indicates potential appreciation, but the cut adds to evidence of weakening analyst conviction. RBC FMC rating

FMC Company Profile

FMC Corporation (NYSE: FMC) is an agricultural sciences company that develops and markets crop protection products and technologies. Its portfolio is designed to help farmers manage weeds, insects and diseases that can affect crop yields and quality.

The company’s products include herbicides, insecticides, fungicides, biological crop protection products and seed treatment solutions. FMC also develops crop health technologies and digital tools intended to support more precise and efficient agricultural applications.

FMC serves farmers, agricultural retailers and distributors in major farming regions around the world, with products used across a broad range of crops.