FMC (NYSE:FMC) Issues FY 2024 Earnings Guidance

FMC (NYSE:FMC) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 3.230-4.410 for the period, compared to the consensus EPS estimate of 3.780. The company issued revenue guidance of $4.5 billion-$4.7 billion, compared to the consensus revenue estimate of $4.5 billion. FMC also updated its FY24 guidance to $3.23-4.41 EPS.

FMC Stock Performance

NYSE FMC traded up $5.82 during trading on Tuesday, reaching $66.80. The company’s stock had a trading volume of 5,858,647 shares, compared to its average volume of 1,968,743. The business’s fifty day moving average price is $60.43 and its 200-day moving average price is $57.79. FMC has a twelve month low of $49.49 and a twelve month high of $114.66. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.52. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 6.23, a P/E/G ratio of 1.99 and a beta of 0.88.

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

FMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, June 28th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Friday, June 28th. FMC’s dividend payout ratio is presently 22.03%.

Analyst Ratings Changes

A number of brokerages have commented on FMC. Royal Bank of Canada cut their price objective on shares of FMC from $61.00 to $59.00 and set an outperform rating for the company in a research report on Thursday, February 8th. StockNews.com cut FMC from a hold rating to a sell rating in a report on Thursday, April 18th. Bank of America cut FMC from a neutral rating to an underperform rating and cut their price objective for the stock from $60.00 to $57.00 in a research report on Tuesday, January 16th. UBS Group raised shares of FMC from a neutral rating to a buy rating and upped their price target for the stock from $61.00 to $84.00 in a research note on Wednesday, March 20th. Finally, Wolfe Research initiated coverage on shares of FMC in a report on Friday, March 1st. They issued a peer perform rating for the company. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $71.88.

Insider Buying and Selling at FMC

In related news, CFO Andrew D. Sandifer acquired 2,150 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average price of $59.22 per share, for a total transaction of $127,323.00. Following the transaction, the chief financial officer now owns 50,088 shares in the company, valued at approximately $2,966,211.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.