Mizuho Issues Positive Forecast for FMC (NYSE:FMC) Stock Price

FMC (NYSE:FMC) had its price objective raised by Mizuho from $64.00 to $70.00 in a research note released on Friday morning, Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Several other research analysts have also commented on FMC. Redburn Atlantic raised shares of FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. BMO Capital Markets lifted their price objective on shares of FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Friday, August 2nd. Wells Fargo & Company dropped their price objective on shares of FMC from $68.00 to $62.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. JPMorgan Chase & Co. lifted their price objective on shares of FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, Barclays boosted their target price on shares of FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $68.00.

FMC Price Performance

Shares of FMC stock traded down $1.84 on Friday, hitting $63.15. 1,088,860 shares of the company traded hands, compared to its average volume of 1,697,158. The stock has a market capitalization of $7.88 billion, a P/E ratio of 5.43, 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. FMC has a 52 week low of $49.49 and a 52 week high of $68.72. The business has a 50-day simple moving average of $63.21 and a 200 day simple moving average of $60.88.

FMC (NYSE:FMC) last released its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.20. FMC had a net margin of 34.93% and a return on equity of 7.68%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts expect that FMC will post 3.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FMC

Several hedge funds have recently modified their holdings of FMC. Vanguard Group Inc. increased its holdings in FMC by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 15,290,219 shares of the basic materials company’s stock worth $973,987,000 after buying an additional 768,432 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in FMC by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,061,828 shares of the basic materials company’s stock worth $322,439,000 after buying an additional 1,316,133 shares during the period. AQR Capital Management LLC increased its holdings in FMC by 317.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,099,389 shares of the basic materials company’s stock worth $63,160,000 after buying an additional 836,179 shares during the period. Russell Investments Group Ltd. boosted its position in FMC by 11.6% in the 1st quarter. Russell Investments Group Ltd. now owns 903,274 shares of the basic materials company’s stock worth $57,538,000 after purchasing an additional 93,892 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in FMC by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 858,129 shares of the basic materials company’s stock worth $49,385,000 after purchasing an additional 17,381 shares in the last quarter. Institutional investors and hedge funds own 91.86% of the company’s stock.

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.