Brokerages forecast that FMC Corp (NYSE:FMC) will report $1.19 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for FMC’s earnings, with the highest sales estimate coming in at $1.25 billion and the lowest estimate coming in at $1.09 billion. FMC reported sales of $656.80 million in the same quarter last year, which would suggest a positive year over year growth rate of 81.2%. The business is expected to issue its next quarterly earnings report on Tuesday, August 7th.
According to Zacks, analysts expect that FMC will report full-year sales of $4.63 billion for the current year, with estimates ranging from $4.58 billion to $4.66 billion. For the next financial year, analysts anticipate that the firm will post sales of $4.92 billion per share, with estimates ranging from $4.80 billion to $5.02 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for FMC.
FMC (NYSE:FMC) last posted its quarterly earnings results on Wednesday, May 2nd. The basic materials company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.63 by $0.21. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.17 billion. FMC had a return on equity of 22.69% and a net margin of 26.54%. The firm’s revenue was up 103.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS.
A number of brokerages have recently issued reports on FMC. Credit Suisse Group set a $100.00 target price on FMC and gave the stock a “buy” rating in a report on Saturday, April 14th. TheStreet upgraded FMC from a “c” rating to a “b” rating in a report on Wednesday, May 2nd. Stephens upgraded FMC from an “equal weight” rating to an “overweight” rating and set a $100.00 target price for the company in a report on Friday, May 4th. Zacks Investment Research upgraded FMC from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a report on Friday, April 6th. Finally, BMO Capital Markets boosted their target price on FMC from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, May 4th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. FMC presently has a consensus rating of “Buy” and a consensus price target of $99.72.
In other FMC news, insider Paul W. Graves sold 3,615 shares of the company’s stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $88.46, for a total value of $319,782.90. Following the completion of the transaction, the insider now owns 89,612 shares in the company, valued at approximately $7,927,077.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Pierre R. Brondeau sold 72,992 shares of the company’s stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $87.19, for a total value of $6,364,172.48. Following the completion of the transaction, the chief executive officer now owns 407,487 shares of the company’s stock, valued at approximately $35,528,791.53. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Boston Partners boosted its holdings in FMC by 1.1% in the 1st quarter. Boston Partners now owns 3,267,130 shares of the basic materials company’s stock worth $250,165,000 after acquiring an additional 34,237 shares during the period. Suvretta Capital Management LLC raised its position in shares of FMC by 6.8% in the 1st quarter. Suvretta Capital Management LLC now owns 2,880,850 shares of the basic materials company’s stock valued at $220,587,000 after purchasing an additional 182,670 shares in the last quarter. Global X Management Co. LLC raised its position in shares of FMC by 7.8% in the 1st quarter. Global X Management Co. LLC now owns 2,029,607 shares of the basic materials company’s stock valued at $155,407,000 after purchasing an additional 147,011 shares in the last quarter. Frontier Capital Management Co. LLC raised its position in shares of FMC by 3.0% in the 1st quarter. Frontier Capital Management Co. LLC now owns 1,603,748 shares of the basic materials company’s stock valued at $122,799,000 after purchasing an additional 47,254 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of FMC by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 1,414,860 shares of the basic materials company’s stock valued at $133,653,000 after purchasing an additional 59,330 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.
Shares of NYSE:FMC opened at $88.40 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.61 and a quick ratio of 1.23. FMC has a 1 year low of $71.43 and a 1 year high of $98.70. The stock has a market cap of $11.96 billion, a PE ratio of 32.62, a PEG ratio of 1.02 and a beta of 1.63.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 19th. Shareholders of record on Friday, June 29th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Thursday, June 28th. FMC’s dividend payout ratio is presently 24.35%.
FMC Company Profile
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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