FMC (NYSE:FMC) Issues Q2 Earnings Guidance

FMC (NYSE:FMC) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.43-0.72 for the period, compared to the consensus earnings per share estimate of $0.67. The company issued revenue guidance of $1.00-1.15 billion, compared to the consensus revenue estimate of $1.06 billion. FMC also updated its FY 2024 guidance to 3.230-4.410 EPS.

FMC Trading Up 9.5 %

Shares of NYSE:FMC traded up $5.80 on Tuesday, hitting $66.78. 6,580,673 shares of the company’s stock were exchanged, compared to its average volume of 1,982,814. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.01. The business’s 50 day simple moving average is $60.43 and its two-hundred day simple moving average is $57.79. The stock 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 has a 12 month low of $49.49 and a 12 month high of $114.66.

FMC (NYSE:FMC) last issued its quarterly earnings results 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. The business had revenue of $918.00 million for the quarter, compared to analyst estimates of $1.01 billion. FMC had a return on equity of 12.98% and a net margin of 29.45%. The company’s revenue was down 31.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.77 earnings per share. Analysts anticipate that FMC will post 3.88 EPS for the current fiscal year.

FMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Friday, June 28th will be given a dividend of $0.58 per share. The ex-dividend date is Friday, June 28th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.47%. FMC’s dividend payout ratio (DPR) is 22.03%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FMC. Royal Bank of Canada lowered their price target on shares of FMC from $61.00 to $59.00 and set an outperform rating on the stock in a research report on Thursday, February 8th. BMO Capital Markets decreased their price target on FMC from $63.00 to $61.00 and set a market perform rating on the stock in a research note on Wednesday, February 7th. 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 research note on Tuesday, January 16th. StockNews.com downgraded FMC from a hold rating to a sell rating in a report on Thursday, April 18th. Finally, KeyCorp boosted their price objective on FMC from $76.00 to $79.00 and gave the company an overweight rating in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $71.88.

Insider Buying and Selling at FMC

In related news, CFO Andrew D. Sandifer purchased 2,150 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were acquired at an average cost of $59.22 per share, with a total value of $127,323.00. Following the completion of the purchase, the chief financial officer now owns 50,088 shares of the company’s stock, valued at approximately $2,966,211.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.