FMC has been the subject of several other reports. Credit Suisse Group initiated coverage on FMC in a research note on Monday, November 5th. They set an outperform rating and a $103.00 target price for the company. Citigroup initiated coverage on FMC in a research note on Monday, November 5th. They set a buy rating and a $92.00 target price for the company. Buckingham Research initiated coverage on FMC in a research note on Wednesday, November 14th. They set a buy rating and a $106.00 target price for the company. Finally, ValuEngine cut FMC from a hold rating to a sell rating in a research note on Wednesday, October 17th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $102.08.
FMC stock opened at $80.08 on Wednesday. The company has a market cap of $11.11 billion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 0.89 and a beta of 1.63. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.54 and a quick ratio of 1.10. FMC has a 52 week low of $72.73 and a 52 week high of $98.70.
FMC (NYSE:FMC) last released its earnings results on Monday, November 5th. The basic materials company reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.06. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. FMC had a return on equity of 26.26% and a net margin of 22.28%. The business’s revenue was up 60.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 EPS. As a group, analysts forecast that FMC will post 5.99 earnings per share for the current year.
FMC declared that its Board of Directors has initiated a stock buyback program on Monday, December 3rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the basic materials company to purchase up to 9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 17th. Investors of record on Friday, December 28th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, December 27th. This is a boost from FMC’s previous quarterly dividend of $0.17. This represents a $1.60 annualized dividend and a yield of 2.00%. FMC’s dividend payout ratio (DPR) is 24.35%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. SRS Capital Advisors Inc. bought a new position in FMC during the third quarter worth $125,000. Piedmont Investment Advisors LLC acquired a new stake in FMC in the second quarter worth $139,000. Moneta Group Investment Advisors LLC acquired a new stake in FMC in the second quarter worth $157,000. Capital Guardian Trust Co. acquired a new stake in FMC in the third quarter worth $174,000. Finally, CSat Investment Advisory L.P. acquired a new stake in FMC in the second quarter worth $193,000. Hedge funds and other institutional investors own 90.07% of the company’s stock.
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.
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