FMC (NYSE:FMC) Updates Q2 2024 Earnings Guidance

FMC (NYSE:FMC) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.430-0.720 for the period, compared to the consensus earnings per share estimate of 0.600. The company issued revenue guidance of $1.0 billion-$1.2 billion, compared to the consensus revenue estimate of $1.1 billion.

FMC Price Performance

NYSE:FMC opened at $57.08 on Friday. The firm has a market cap of $7.12 billion, a PE ratio of 6.37, a price-to-earnings-growth ratio of 1.17 and a beta of 0.88. FMC has a 12 month low of $49.49 and a 12 month high of $106.87. The company has a quick ratio of 1.02, a current ratio of 1.46 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average price is $59.91 and its two-hundred day moving average price is $59.25.

FMC (NYSE:FMC) last released its quarterly earnings results on Monday, May 6th. The basic materials company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $918.00 million for the quarter, compared to analyst estimates of $1.01 billion. FMC had a net margin of 27.65% and a return on equity of 7.68%. The company’s revenue for the quarter was down 31.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.77 earnings per share. On average, equities analysts anticipate that FMC will post 3.6 EPS for the current fiscal year.

FMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date is Friday, June 28th. FMC’s dividend payout ratio is presently 25.89%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FMC shares. JPMorgan Chase & Co. dropped their target price on shares of FMC from $53.00 to $50.00 and set a neutral rating for the company in a research note on Monday, May 13th. Mizuho boosted their price target on shares of FMC from $55.00 to $57.00 and gave the stock a neutral rating in a research note on Tuesday, May 7th. Royal Bank of Canada boosted their price target on shares of FMC from $65.00 to $81.00 and gave the stock an outperform rating in a research note on Friday, May 10th. Wells Fargo & Company boosted their price target on shares of FMC from $65.00 to $68.00 and gave the stock an equal weight rating in a research note on Wednesday, May 8th. Finally, StockNews.com raised shares of FMC from a sell rating to a hold rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $70.06.

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.