FMC (NYSE:FMC) Updates FY 2024 Earnings Guidance

FMC (NYSE:FMC) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 3.160-3.520 for the period, compared to the consensus earnings per share estimate of 3.280. The company issued revenue guidance of $4.3 billion-$4.4 billion, compared to the consensus revenue estimate of $4.4 billion. FMC also updated its FY24 guidance to $3.16-3.52 EPS.

Wall Street Analysts Forecast Growth

FMC has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Citigroup began coverage on FMC in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $67.00 price objective for the company. Redburn Atlantic upgraded FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. Barclays upped their price target on FMC from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Finally, BMO Capital Markets raised their price objective on FMC from $60.00 to $65.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $67.00.

FMC Trading Down 2.5 %

Shares of NYSE FMC traded down $1.62 during mid-day trading on Friday, hitting $63.37. The stock had a trading volume of 474,926 shares, compared to its average volume of 1,694,262. The firm has a market cap of $7.91 billion, a P/E ratio of 5.45, a price-to-earnings-growth ratio of 1.71 and a beta of 0.85. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.07 and a current ratio of 1.48. The business has a 50 day moving average price of $63.25 and a two-hundred day moving average price of $60.84. FMC has a 1 year low of $49.49 and a 1 year high of $68.72.

FMC (NYSE:FMC) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.20. FMC had a net margin of 34.93% and a return on equity of 7.68%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the business posted $0.44 earnings per share. FMC’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities analysts anticipate that FMC will post 3.3 EPS for the current fiscal year.

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.