FMC (NYSE:FMC) Issues Q2 Earnings Guidance

FMC (NYSE:FMC) issued an update on its second quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.43-0.72 for the period, compared to the consensus EPS 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.

FMC Stock Up 9.5 %

NYSE FMC traded up $5.80 during trading hours on Tuesday, hitting $66.78. 6,580,673 shares of the company were exchanged, compared to its average volume of 1,982,814. FMC has a 52-week low of $49.49 and a 52-week high of $114.66. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 6.23, a PEG ratio of 1.99 and a beta of 0.88. The company has a quick ratio of 1.01, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average of $60.43 and a two-hundred day moving average of $57.79.

FMC (NYSE:FMC) last released its quarterly earnings data on Monday, May 6th. The basic materials company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. FMC had a return on equity of 12.98% and a net margin of 29.45%. The business had revenue of $918.00 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the business posted $1.77 EPS. The business’s revenue for the quarter was down 31.7% on a year-over-year basis. Equities research analysts anticipate that FMC will post 3.88 earnings per share for the current year.

FMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, June 28th will be paid a dividend of $0.58 per share. The ex-dividend date is Friday, June 28th. This represents a $2.32 dividend on an annualized basis and a yield of 3.47%. FMC’s dividend payout ratio is presently 22.03%.

Analysts Set New Price Targets

A number of analysts have weighed in on FMC shares. Mizuho increased their price objective on FMC from $55.00 to $57.00 and gave the stock a neutral rating in a research report on Tuesday. Wolfe Research initiated coverage on FMC in a report on Friday, March 1st. They issued a peer perform rating for the company. Bank of America cut FMC from a neutral rating to an underperform rating and reduced their price target for the company from $60.00 to $57.00 in a report on Tuesday, January 16th. BNP Paribas cut 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, StockNews.com downgraded FMC from a hold rating to a sell rating in a research note on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, FMC currently has an average rating of Hold and a consensus target price of $71.88.

Insiders Place Their Bets

In other news, CFO Andrew D. Sandifer bought 2,150 shares of the business’s stock in a transaction on Monday, March 4th. The stock was purchased at an average cost of $59.22 per share, for a total transaction of $127,323.00. Following the completion of the transaction, the chief financial officer now directly owns 50,088 shares of the company’s stock, valued at approximately $2,966,211.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.81% of the stock is currently 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.