Citigroup Has Lowered Expectations for FMC (NYSE:FMC) Stock Price

FMC (NYSE:FMC) had its target price lowered by equities research analysts at Citigroup from $70.00 to $55.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the basic materials company’s stock. Citigroup’s target price points to a potential upside of 7.21% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. Mizuho lifted their price objective on shares of FMC from $64.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Royal Bank of Canada lifted their price objective on shares of FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, FMC currently has a consensus rating of “Hold” and a consensus price target of $67.08.

FMC Stock Performance

Shares of NYSE FMC traded down $0.40 during midday trading on Wednesday, hitting $51.30. 206,414 shares of the company’s stock were exchanged, compared to its average volume of 1,642,555. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.48 and a quick ratio of 1.09. The stock’s 50 day moving average price is $59.40 and its 200-day moving average price is $60.04. The firm has a market cap of $6.40 billion, a P/E ratio of 4.41, a PEG ratio of 1.48 and a beta of 0.80. FMC has a twelve month low of $50.03 and a twelve month high of $68.72.

FMC (NYSE:FMC) last announced its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.49 by $0.20. FMC had a return on equity of 7.68% and a net margin of 34.93%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the company earned $0.44 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. Equities research analysts anticipate that FMC will post 3.35 EPS for the current year.

Insiders Place Their Bets

In other FMC news, VP Jacqueline Scanlan sold 4,529 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.67, for a total transaction of $270,245.43. Following the sale, the vice president now directly owns 28,649 shares of the company’s stock, valued at approximately $1,709,485.83. This represents a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.81% of the company’s stock.

Institutional Trading of FMC

Large investors have recently added to or reduced their stakes in the company. Barnett & Company Inc. bought a new stake in shares of FMC during the third quarter valued at approximately $2,265,000. Inspire Trust Co. N.A. grew its stake in shares of FMC by 18.7% during the third quarter. Inspire Trust Co. N.A. now owns 60,200 shares of the basic materials company’s stock valued at $3,970,000 after purchasing an additional 9,500 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of FMC by 27.8% during the third quarter. Advisors Asset Management Inc. now owns 43,483 shares of the basic materials company’s stock valued at $2,867,000 after purchasing an additional 9,449 shares during the last quarter. First National Bank of Omaha grew its stake in shares of FMC by 85.7% during the third quarter. First National Bank of Omaha now owns 33,935 shares of the basic materials company’s stock valued at $2,238,000 after purchasing an additional 15,662 shares during the last quarter. Finally, tru Independence LLC bought a new stake in shares of FMC during the third quarter valued at approximately $5,323,000. 91.86% of the stock is owned by institutional investors.

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.