FMC Corp. (NYSE:FMC) – Equities researchers at Jefferies Group lowered their Q1 2017 EPS estimates for shares of FMC Corp. in a report issued on Thursday. Jefferies Group analyst L. Alexander now expects that the firm will earn $0.59 per share for the quarter, down from their prior estimate of $0.76. Jefferies Group has a “Buy” rating and a $58.00 price objective on the stock. Jefferies Group also issued estimates for FMC Corp.’s Q3 2017 earnings at $0.71 EPS, Q4 2017 earnings at $0.86 EPS and FY2017 earnings at $2.85 EPS.
Several other equities analysts also recently commented on the company. Citigroup Inc. upped their price objective on FMC Corp. from $48.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, July 15th. Nomura reiterated a “hold” rating on shares of FMC Corp. in a research note on Tuesday, July 12th. Susquehanna upped their price objective on FMC Corp. from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, August 26th. Credit Suisse Group AG reiterated a “hold” rating on shares of FMC Corp. in a research note on Monday, June 27th. Finally, Zacks Investment Research upgraded FMC Corp. from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $44.07.
FMC Corp. (NYSE:FMC) opened at 48.34 on Friday. The firm’s market cap is $6.47 billion. FMC Corp. has a 52 week low of $32.24 and a 52 week high of $50.57. The stock’s 50 day moving average price is $47.41 and its 200 day moving average price is $45.87.
FMC Corp. (NYSE:FMC) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.02. FMC Corp. had a positive return on equity of 16.35% and a negative net margin of 2.79%. The business had revenue of $810.30 million for the quarter, compared to analyst estimates of $889.70 million. During the same quarter in the prior year, the firm posted $0.70 earnings per share. The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in FMC Corp. by 2.1% in the first quarter. State Street Corp now owns 5,665,404 shares of the company’s stock worth $228,708,000 after buying an additional 114,542 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in FMC Corp. by 78.1% in the first quarter. Canada Pension Plan Investment Board now owns 197,510 shares of the company’s stock worth $7,973,000 after buying an additional 86,600 shares in the last quarter. M&T Bank Corp purchased a new position in FMC Corp. during the first quarter worth approximately $420,000. NN Investment Partners Holdings N.V. purchased a new position in FMC Corp. during the first quarter worth approximately $963,000. Finally, Sentry Investment Management LLC boosted its position in FMC Corp. by 22.3% in the first quarter. Sentry Investment Management LLC now owns 9,629 shares of the company’s stock worth $389,000 after buying an additional 1,757 shares in the last quarter. 94.55% of the stock is currently owned by institutional investors and hedge funds.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Friday, September 30th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.66 annualized dividend and a dividend yield of 1.37%. FMC Corp.’s payout ratio is currently -94.29%.
FMC Corp. Company Profile
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates through three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. The Company’s FMC Agricultural Solutions segment develops, markets and sells over three classes of crop protection chemicals, including insecticides, herbicides and fungicides.
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