FMC (NYSE:FMC) Updates FY 2024 Earnings Guidance

FMC (NYSE:FMC) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 3.230-4.410 for the period, compared to the consensus earnings per share estimate of 3.780. The company issued revenue guidance of $4.5 billion-$4.7 billion, compared to the consensus revenue estimate of $4.5 billion. FMC also updated its FY24 guidance to $3.23-4.41 EPS.

FMC Stock Down 1.4 %

Shares of FMC traded down $0.87 during midday trading on Monday, reaching $60.98. The stock had a trading volume of 1,904,997 shares, compared to its average volume of 1,929,391. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 5.79, a PEG ratio of 1.99 and a beta of 0.88. The company’s fifty day simple moving average is $60.27 and its two-hundred day simple moving average is $57.83. 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 1-year low of $49.49 and a 1-year high of $114.66.

FMC (NYSE:FMC) last announced its quarterly earnings data on Monday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.13). FMC had a net margin of 29.45% and a return on equity of 12.98%. The firm had revenue of $918.00 million during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm posted $1.77 earnings per share. The business’s quarterly revenue was down 31.7% compared to the same quarter last year. Equities research analysts expect that FMC will post 3.88 earnings per share for the current year.

FMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Friday, June 28th will be given a $0.58 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.32 annualized dividend and a dividend yield of 3.80%. FMC’s dividend payout ratio is presently 22.03%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Bank of America lowered shares of FMC from a neutral rating to an underperform rating and reduced their target price for the company from $60.00 to $57.00 in a report on Tuesday, January 16th. Loop Capital lifted their target price on shares of FMC from $55.00 to $65.00 and gave the stock a hold rating in a research note on Tuesday, March 19th. UBS Group raised FMC from a neutral rating to a buy rating and lifted their price objective for the company from $61.00 to $84.00 in a research report on Wednesday, March 20th. KeyCorp lifted their price target on FMC from $76.00 to $79.00 and gave the company an overweight rating in a report on Tuesday, April 9th. Finally, BNP Paribas lowered shares of FMC from an outperform rating to a neutral rating and set a $56.00 price objective on the stock. in a report on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $71.75.

Insider Transactions at FMC

In other FMC news, CFO Andrew D. Sandifer purchased 2,150 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was acquired at an average price of $59.22 per share, for a total transaction of $127,323.00. Following the purchase, the chief financial officer now owns 50,088 shares of the company’s stock, valued at approximately $2,966,211.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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.