FMC (NYSE:FMC) Updates FY24 Earnings Guidance

FMC (NYSE:FMC) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $3.23-4.41 for the period, compared to the consensus EPS estimate of $3.75. The company issued revenue guidance of $4.50-4.70 billion, compared to the consensus revenue estimate of $4.53 billion. FMC also updated its FY 2024 guidance to 3.230-4.410 EPS.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Bank of America lowered FMC from a neutral rating to an underperform rating and decreased their price target for the company from $60.00 to $57.00 in a report on Tuesday, January 16th. BMO Capital Markets reduced their price target on FMC from $63.00 to $61.00 and set a market perform rating on the stock in a report on Wednesday, February 7th. Royal Bank of Canada lowered their price objective on shares of FMC from $61.00 to $59.00 and set an outperform rating for the company in a research report on Thursday, February 8th. Loop Capital raised their target price on shares of FMC from $55.00 to $65.00 and gave the stock a hold rating in a research report on Tuesday, March 19th. Finally, UBS Group raised shares of FMC from a neutral rating to a buy rating and lifted their price target for the company from $61.00 to $84.00 in a research note on Wednesday, March 20th. Two investment 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. According to data from MarketBeat.com, FMC currently has a consensus rating of Hold and an average price target of $71.88.

FMC Stock Up 9.5 %

FMC stock traded up $5.82 during trading on Tuesday, reaching $66.80. 5,858,647 shares of the company traded hands, compared to its average volume of 1,968,743. The business has a 50 day simple moving average of $60.43 and a 200 day simple moving average of $57.79. FMC has a 12 month low of $49.49 and a 12 month high of $114.66. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.52. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 6.23, a price-to-earnings-growth ratio of 1.99 and a beta of 0.88.

FMC (NYSE:FMC) last posted its quarterly earnings data on Monday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, topping 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 firm had revenue of $918.00 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the firm earned $1.77 EPS. The business’s quarterly revenue was down 31.7% on a year-over-year basis. On average, equities research analysts anticipate that FMC will post 3.88 earnings per share for the current fiscal year.

FMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors 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 dividend on an annualized basis and a yield of 3.47%. FMC’s dividend payout ratio is currently 22.03%.

Insider Activity at FMC

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

About FMC

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.