Royal Bank Of Canada Reiterates “Buy” Rating for FMC Corporation (FMC)

FMC Corporation (NYSE:FMC)‘s stock had its “buy” rating reiterated by equities research analysts at Royal Bank Of Canada in a report issued on Wednesday. They currently have a $93.00 price target on the basic materials company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 0.08% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Bank of America Corporation raised FMC Corporation from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $103.00 in a research report on Thursday, August 31st. Zacks Investment Research lowered FMC Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Robert W. Baird reaffirmed a “hold” rating and issued a $86.00 price target on shares of FMC Corporation in a research report on Tuesday, September 12th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $85.00 price target on shares of FMC Corporation in a research report on Tuesday, September 5th. Finally, Seaport Global Securities lowered FMC Corporation from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $82.00 to $80.00 in a research report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $87.89.

FMC Corporation (NYSE:FMC) traded up 1.33% on Wednesday, reaching $94.17. 487,618 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $88.62 and its 200 day moving average price is $78.78. The company has a market cap of $12.63 billion, a PE ratio of 279.44 and a beta of 1.61. FMC Corporation has a 12 month low of $45.91 and a 12 month high of $94.42.

FMC Corporation (NYSE:FMC) last posted its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. The firm had revenue of $656.80 million during the quarter, compared to analyst estimates of $614.01 million. FMC Corporation had a return on equity of 16.51% and a net margin of 1.58%. FMC Corporation’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 EPS. On average, equities analysts expect that FMC Corporation will post $2.43 EPS for the current fiscal year.

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In other FMC Corporation news, VP Andrea E. Utecht sold 14,174 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $84.00, for a total transaction of $1,190,616.00. Following the completion of the sale, the vice president now directly owns 131,639 shares in the company, valued at approximately $11,057,676. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Aviance Capital Management LLC bought a new stake in shares of FMC Corporation during the 1st quarter valued at about $200,000. United Capital Financial Advisers LLC bought a new position in shares of FMC Corporation during the 1st quarter valued at approximately $202,000. RiverPoint Capital Management LLC grew its stake in shares of FMC Corporation by 4.4% during the 1st quarter. RiverPoint Capital Management LLC now owns 4,825 shares of the basic materials company’s stock valued at $336,000 after acquiring an additional 205 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of FMC Corporation by 4.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 5,048 shares of the basic materials company’s stock valued at $351,000 after acquiring an additional 214 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of FMC Corporation during the 1st quarter valued at approximately $431,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

FMC Corporation Company Profile

FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.

Analyst Recommendations for FMC Corporation (NYSE:FMC)

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