FMC (NYSE:FMC) Releases Q2 2024 Earnings Guidance

FMC (NYSE:FMC) updated its second quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of 0.430-0.720 for the period, compared to the consensus earnings per share estimate of 0.680. The company issued revenue guidance of $1.0 billion-$1.2 billion, compared to the consensus revenue estimate of $1.1 billion. FMC also updated its FY 2024 guidance to 3.230-4.410 EPS.

Analyst Ratings Changes

FMC has been the subject of several recent research reports. BNP Paribas downgraded FMC from an outperform rating to a neutral rating and set a $56.00 price target for the company. in a research note on Wednesday, February 7th. Royal Bank of Canada cut their target price on FMC from $61.00 to $59.00 and set an outperform rating for the company in a research report on Thursday, February 8th. StockNews.com downgraded FMC from a hold rating to a sell rating in a research note on Thursday, April 18th. Bank of America lowered shares of FMC from a neutral rating to an underperform rating and decreased their target price for the company from $60.00 to $57.00 in a report on Tuesday, January 16th. Finally, Wolfe Research initiated coverage on shares of FMC in a research report on Friday, March 1st. They set a peer perform rating on the stock. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $71.88.

FMC Stock Up 9.5 %

Shares of NYSE:FMC traded up $5.80 during midday trading 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. FMC has a 12 month low of $49.49 and a 12 month high of $114.66. The company has a market cap of $8.34 billion, a PE ratio of 6.23, a price-to-earnings-growth ratio of 1.99 and a beta of 0.88. 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 stock has a 50 day moving average price of $60.43 and a 200-day moving average price of $57.79.

FMC (NYSE:FMC) last posted its earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The company 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 for the quarter was down 31.7% on a year-over-year basis. During the same quarter last year, the company earned $1.77 earnings per share. On average, sell-side analysts anticipate that FMC will post 3.88 EPS for the current fiscal year.

FMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Friday, June 28th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, June 28th. FMC’s payout ratio is currently 22.03%.

Insiders Place Their Bets

In other news, CFO Andrew D. Sandifer purchased 2,150 shares of the business’s stock in a transaction on Monday, March 4th. The stock was purchased at an average cost of $59.22 per share, with a total value of $127,323.00. Following the acquisition, the chief financial officer now directly owns 50,088 shares in the company, valued at $2,966,211.36. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.81% of the stock is owned by corporate 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.