FMC (NYSE:FMC) Releases FY24 Earnings Guidance

FMC (NYSE:FMC) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $3.23-4.41 for the period, compared to the consensus estimate of $3.75. The company issued revenue guidance of $4.50-4.70 billion, compared to the consensus revenue estimate of $4.53 billion. FMC also updated its FY 2024 guidance to 3.230-4.410 EPS.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FMC. UBS Group raised shares of FMC from a neutral rating to a buy rating and increased their target price for the company from $61.00 to $84.00 in a research note on Wednesday, March 20th. KeyCorp increased their target price on shares of FMC from $79.00 to $81.00 and gave the company an overweight rating in a research note on Wednesday. BMO Capital Markets reduced their target price on shares of FMC from $63.00 to $61.00 and set a market perform rating on the stock in a research note on Wednesday, February 7th. Wolfe Research initiated coverage on shares of FMC in a research note on Friday, March 1st. They issued a peer perform rating on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $71.69.

FMC Stock Up 2.6 %

NYSE FMC traded up $1.69 during trading on Thursday, reaching $66.53. 285,309 shares of the company’s stock traded hands, compared to its average volume of 1,971,800. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.01. The firm has a market cap of $8.30 billion, a price-to-earnings ratio of 6.16, a price-to-earnings-growth ratio of 1.99 and a beta of 0.88. The company’s 50 day simple moving average is $60.99 and its two-hundred day simple moving average is $57.84. FMC has a 12-month low of $49.49 and a 12-month high of $112.10.

FMC (NYSE:FMC) last released its earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $918.00 million for the quarter, compared to the consensus estimate of $1.01 billion. FMC had a net margin of 29.45% and a return on equity of 12.98%. FMC’s revenue was down 31.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.77 EPS. As a group, sell-side analysts forecast that FMC will post 3.88 EPS for the current fiscal year.

FMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Friday, June 28th. FMC’s dividend payout ratio is presently 22.03%.

Insiders Place Their Bets

In related news, CFO Andrew D. Sandifer bought 2,150 shares of the company’s stock in a transaction on Monday, March 4th. The shares were bought at an average price of $59.22 per share, with a total value of $127,323.00. Following the transaction, the chief financial officer now owns 50,088 shares in the company, valued at $2,966,211.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.81% of the stock is owned by insiders.

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.