Zacks: Brokerages Anticipate FMC Corp (NYSE:FMC) Will Post Quarterly Sales of $977.50 Million

Equities analysts forecast that FMC Corp (NYSE:FMC) will report sales of $977.50 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for FMC’s earnings. The lowest sales estimate is $975.00 million and the highest is $980.00 million. FMC reported sales of $1.04 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 6%. The company is scheduled to announce its next earnings report on Monday, November 4th.

On average, analysts expect that FMC will report full-year sales of $4.55 billion for the current year, with estimates ranging from $4.53 billion to $4.58 billion. For the next year, analysts forecast that the company will report sales of $4.84 billion, with estimates ranging from $4.74 billion to $5.06 billion. Zacks’ sales averages are an average based on a survey of analysts that follow FMC.

FMC (NYSE:FMC) last posted its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $1.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.03. FMC had a net margin of 10.65% and a return on equity of 27.33%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the business posted $1.78 EPS. The company’s quarterly revenue was up 4.5% on a year-over-year basis.

Several research analysts have recently commented on the stock. Citigroup reaffirmed a “buy” rating and issued a $93.00 price target (up from $91.00) on shares of FMC in a report on Thursday, June 13th. Zacks Investment Research raised shares of FMC from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a report on Monday, June 3rd. Buckingham Research lifted their price target on shares of FMC from $94.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Bank of America lowered shares of FMC from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. Finally, Nomura lifted their price target on shares of FMC from $93.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $96.85.

NYSE FMC opened at $82.82 on Wednesday. FMC has a one year low of $69.36 and a one year high of $92.76. The company has a 50-day simple moving average of $84.95 and a 200-day simple moving average of $81.13. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.91 and a current ratio of 1.27. The firm has a market capitalization of $11.24 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 1.44 and a beta of 1.49.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Friday, September 27th. FMC’s payout ratio is 25.44%.

In other FMC news, CEO Pierre R. Brondeau sold 196,466 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $88.90, for a total transaction of $17,465,827.40. Following the completion of the transaction, the chief executive officer now directly owns 368,778 shares of the company’s stock, valued at approximately $32,784,364.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Pfeiffer sold 2,446 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $80.67, for a total transaction of $197,318.82. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Several large investors have recently modified their holdings of FMC. Huntington National Bank lifted its stake in shares of FMC by 754.1% in the 2nd quarter. Huntington National Bank now owns 316 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 279 shares during the period. Squar Milner Financial Services LLC lifted its stake in shares of FMC by 51.4% in the 2nd quarter. Squar Milner Financial Services LLC now owns 383 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 130 shares during the period. Global Retirement Partners LLC lifted its stake in shares of FMC by 128.6% in the 1st quarter. Global Retirement Partners LLC now owns 455 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 256 shares during the period. Ellevest Inc. lifted its stake in shares of FMC by 91.2% in the 2nd quarter. Ellevest Inc. now owns 457 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 218 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of FMC by 46.9% in the 2nd quarter. Parallel Advisors LLC now owns 501 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 160 shares during the period. 89.79% of the stock is owned by institutional investors.

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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