FMC (NYSE:FMC) Announces Earnings Results

FMC (NYSE:FMC) announced its earnings results on Monday. The basic materials company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.13), RTT News reports. FMC had a net margin of 29.45% and a return on equity of 12.98%. The business had revenue of $918.00 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the business posted $1.77 EPS. FMC’s revenue for the quarter was down 31.7% on a year-over-year basis. FMC updated its Q2 guidance to $0.43-0.72 EPS and its FY24 guidance to $3.23-4.41 EPS.

FMC Stock Performance

Shares of NYSE:FMC traded down $0.87 during midday trading on Monday, hitting $60.98. The company had a trading volume of 1,903,805 shares, compared to its average volume of 1,929,377. FMC has a 12-month low of $49.49 and a 12-month high of $114.66. The company has a fifty day moving average of $60.27 and a two-hundred day moving average of $57.83. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 5.82, a PEG ratio of 1.99 and a beta of 0.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.01.

FMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Friday, June 28th. FMC’s dividend payout ratio is presently 22.03%.

Insider Activity at FMC

In related news, CFO Andrew D. Sandifer purchased 2,150 shares of FMC stock in a transaction on Monday, March 4th. The stock was acquired at an average price of $59.22 per share, for a total transaction of $127,323.00. Following the completion of the transaction, the chief financial officer now directly owns 50,088 shares in the company, valued at approximately $2,966,211.36. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.81% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FMC shares. BMO Capital Markets reduced their price target on FMC from $63.00 to $61.00 and set a “market perform” rating for the company in a report on Wednesday, February 7th. BNP Paribas lowered shares of FMC from an “outperform” rating to a “neutral” rating and set a $56.00 price objective for the company. in a report on Wednesday, February 7th. StockNews.com lowered FMC from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. KeyCorp boosted their price target on FMC from $76.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Finally, Royal Bank of Canada dropped their price objective on FMC from $61.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $71.75.

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.