FMC Corp (NYSE:FMC) – Research analysts at Jefferies Financial Group decreased their Q2 2019 earnings per share (EPS) estimates for shares of FMC in a note issued to investors on Monday, June 10th. Jefferies Financial Group analyst L. Alexander now anticipates that the basic materials company will post earnings of $1.60 per share for the quarter, down from their prior forecast of $1.66. Jefferies Financial Group currently has a “Buy” rating and a $112.00 price objective on the stock. Jefferies Financial Group also issued estimates for FMC’s Q3 2019 earnings at $0.87 EPS, Q4 2019 earnings at $1.46 EPS, FY2019 earnings at $5.65 EPS and FY2020 earnings at $6.85 EPS.
A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of FMC from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a research note on Monday, June 3rd. Morgan Stanley began coverage on shares of FMC in a research note on Monday, May 20th. They issued an “equal weight” rating and a $82.00 target price on the stock. Royal Bank of Canada downgraded shares of FMC from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $100.00 to $87.00 in a research note on Thursday, April 18th. They noted that the move was a valuation call. Loop Capital set a $102.00 target price on shares of FMC and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, KeyCorp lowered their target price on shares of FMC from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $93.33.
Shares of FMC opened at $79.91 on Tuesday. The company has a market capitalization of $10.63 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.29 and a beta of 1.46. The company has a current ratio of 1.26, a quick ratio of 0.92 and a debt-to-equity ratio of 0.77. FMC has a 1-year low of $69.36 and a 1-year high of $92.76.
FMC (NYSE:FMC) last announced its earnings results on Monday, May 6th. The basic materials company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.10. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. FMC had a net margin of 9.57% and a return on equity of 27.53%. FMC’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm posted $1.84 earnings per share.
Hedge funds and other institutional investors have recently modified their holdings of the business. Paragon Capital Management LLC bought a new position in FMC during the first quarter valued at approximately $31,000. Lindbrook Capital LLC bought a new position in FMC during the fourth quarter valued at approximately $31,000. Riverview Trust Co bought a new position in FMC during the fourth quarter valued at approximately $32,000. Global Retirement Partners LLC grew its position in FMC by 128.6% during the first quarter. Global Retirement Partners LLC now owns 455 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 256 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of FMC by 114.9% in the first quarter. Rockefeller Capital Management L.P. now owns 578 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 309 shares during the last quarter. Institutional investors and hedge funds own 90.00% of the company’s stock.
In other FMC news, CEO Pierre R. Brondeau sold 33,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $73.09, for a total transaction of $2,411,970.00. Following the transaction, the chief executive officer now directly owns 284,814 shares in the company, valued at $20,817,055.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Douglas sold 18,500 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $75.12, for a total transaction of $1,389,720.00. Following the transaction, the insider now owns 47,594 shares in the company, valued at $3,575,261.28. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, June 27th. FMC’s payout ratio is currently 25.44%.
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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