FMC (NYSE:FMC) Updates FY 2024 Earnings Guidance

FMC (NYSE:FMC) updated its FY 2024 earnings guidance on Monday. 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.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Bank of America cut shares of FMC from a neutral rating to an underperform rating and reduced their price target for the stock from $60.00 to $57.00 in a research report on Tuesday, January 16th. Royal Bank of Canada cut their price objective 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. Loop Capital boosted their price objective on shares of FMC from $55.00 to $65.00 and gave the company a hold rating in a research report on Tuesday, March 19th. StockNews.com cut shares of FMC from a hold rating to a sell rating in a research report on Thursday, April 18th. Finally, Mizuho boosted their price objective on shares of FMC from $55.00 to $57.00 and gave the company a neutral rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, FMC currently has a consensus rating of Hold and an average target price of $71.88.

FMC Price Performance

Shares of FMC stock traded up $5.80 on Tuesday, reaching $66.78. The company had a trading volume of 6,580,673 shares, compared to its average volume of 1,982,814. The stock has a market capitalization 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 quick ratio of 1.01, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The business’s 50-day moving average is $60.43 and its 200 day moving average is $57.79. FMC has a one year low of $49.49 and a one year high of $114.66.

FMC (NYSE:FMC) last posted its quarterly earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $918.00 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned $1.77 EPS. Equities research analysts forecast 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. Investors of record on Friday, June 28th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Friday, June 28th. FMC’s payout ratio is currently 22.03%.

Insider Activity at FMC

In other FMC news, CFO Andrew D. Sandifer acquired 2,150 shares of FMC stock in a transaction on Monday, March 4th. The stock was purchased 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 directly owns 50,088 shares of the company’s stock, valued at $2,966,211.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.81% of the stock is currently owned by 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.