FMC (FMC) Updates FY 2019 Earnings Guidance

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FMC (NYSE:FMC) issued an update on its FY 2019 earnings guidance on Monday morning. The company provided earnings per share guidance of $5.55-5.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.93. The company issued revenue guidance of $4.45-4.55 billion, compared to the consensus revenue estimate of $4.54 billion.FMC also updated its Q1 2019 guidance to $1.58-1.68 EPS.

FMC traded up $0.21 during trading on Monday, hitting $84.76. 916,436 shares of the stock traded hands, compared to its average volume of 924,137. The stock has a market capitalization of $11.39 billion, a P/E ratio of 31.28, a PEG ratio of 1.01 and a beta of 1.49. The company has a quick ratio of 1.10, a current ratio of 1.54 and a debt-to-equity ratio of 0.84. FMC has a 12-month low of $69.36 and a 12-month high of $92.95.

The company also recently declared a quarterly dividend, which was paid on Thursday, January 17th. Shareholders of record on Friday, December 28th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, December 27th. This represents a $1.60 annualized dividend and a yield of 1.89%. This is a boost from FMC’s previous quarterly dividend of $0.17. FMC’s dividend payout ratio is presently 59.04%.

FMC announced that its Board of Directors has authorized a stock buyback plan on Monday, December 3rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the basic materials company to buy up to 9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Several research firms have recently commented on FMC. Credit Suisse Group set a $105.00 target price on shares of FMC and gave the stock a buy rating in a research report on Monday, December 3rd. Buckingham Research began coverage on shares of FMC in a research report on Wednesday, November 14th. They issued a buy rating and a $106.00 target price for the company. Citigroup set a $96.00 target price on shares of FMC and gave the stock a buy rating in a research report on Sunday, November 11th. Loop Capital began coverage on shares of FMC in a research report on Friday, November 9th. They issued a buy rating and a $118.00 target price for the company. Finally, Zacks Investment Research raised shares of FMC from a sell rating to a hold rating in a research report on Tuesday, January 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company. FMC presently has a consensus rating of Buy and an average target price of $102.17.

In other FMC news, Director Eduardo E. Cordeiro purchased 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 20th. The stock was bought at an average cost of $71.90 per share, for a total transaction of $251,650.00. Following the purchase, the director now directly owns 21,645 shares in the company, valued at $1,556,275.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.20% of the company’s stock.

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FMC Company Profile

FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.

Further Reading: What is the balance sheet?

Earnings History and Estimates for FMC (NYSE:FMC)

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