FY2020 EPS Estimates for FMC Corp Lowered by Jefferies Financial Group (FMC)

FMC Corp (NYSE:FMC) – Equities research analysts at Jefferies Financial Group dropped their FY2020 earnings per share estimates for FMC in a research note issued on Monday, December 3rd. Jefferies Financial Group analyst L. Alexander now forecasts that the basic materials company will post earnings of $6.95 per share for the year, down from their prior forecast of $7.15.

FMC (NYSE:FMC) last posted its quarterly earnings data on Monday, November 5th. The basic materials company reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.06. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. FMC had a net margin of 22.28% and a return on equity of 26.26%. The company’s revenue was up 60.4% on a year-over-year basis. During the same quarter last year, the business posted $0.70 earnings per share.

Other analysts have also issued research reports about the stock. Credit Suisse Group raised their price objective on shares of FMC from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday. ValuEngine raised shares of FMC from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Loop Capital set a $118.00 price objective on shares of FMC and gave the stock a “buy” rating in a report on Wednesday. Citigroup set a $96.00 price objective on shares of FMC and gave the stock a “buy” rating in a report on Sunday, November 11th. Finally, Buckingham Research assumed coverage on shares of FMC in a report on Wednesday, November 14th. They set a “buy” rating and a $106.00 price objective for the company. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $102.08.

NYSE FMC opened at $82.53 on Wednesday. The company has a market cap of $11.21 billion, a PE ratio of 30.45, a PEG ratio of 0.88 and a beta of 1.63. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.54 and a quick ratio of 1.10. FMC has a 1-year low of $72.73 and a 1-year high of $98.70.

FMC declared that its Board of Directors has initiated a share repurchase plan on Monday, December 3rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the basic materials company to purchase up to 9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 17th. Investors of record on Friday, December 28th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, December 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.94%. This is a positive change from FMC’s previous quarterly dividend of $0.17. FMC’s dividend payout ratio (DPR) is currently 24.35%.

Several institutional investors have recently modified their holdings of FMC. SRS Capital Advisors Inc. bought a new position in FMC in the third quarter valued at approximately $125,000. Thompson Davis & CO. Inc. boosted its stake in FMC by 307.1% in the second quarter. Thompson Davis & CO. Inc. now owns 1,425 shares of the basic materials company’s stock valued at $127,000 after acquiring an additional 1,075 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in FMC in the second quarter valued at approximately $139,000. Moneta Group Investment Advisors LLC bought a new position in FMC in the second quarter valued at approximately $157,000. Finally, Capital Guardian Trust Co. bought a new position in FMC in the third quarter valued at approximately $174,000. 90.07% of the stock is owned by institutional investors and hedge funds.

About FMC

FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.

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Earnings History and Estimates for FMC (NYSE:FMC)

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