FMC (NYSE:FMC) Issues Q2 Earnings Guidance

FMC (NYSE:FMC) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.43-0.72 for the period, compared to the consensus estimate of $0.67. The company issued revenue guidance of $1.00-1.15 billion, compared to the consensus revenue estimate of $1.06 billion. FMC also updated its FY 2024 guidance to 3.230-4.410 EPS.

FMC Stock Up 9.5 %

FMC traded up $5.82 during midday trading on Tuesday, hitting $66.80. The company had a trading volume of 5,858,647 shares, compared to its average volume of 1,968,743. The company has a quick ratio of 1.01, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock’s 50 day moving average price is $60.43 and its 200 day moving average price is $57.79. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 6.23, a PEG ratio of 1.99 and a beta of 0.88. FMC has a 52 week low of $49.49 and a 52 week high of $114.66.

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

FMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Friday, June 28th. FMC’s payout ratio is 22.03%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FMC. Loop Capital increased their price target on shares of FMC from $55.00 to $65.00 and gave the company a hold rating in a research report on Tuesday, March 19th. BNP Paribas cut FMC from an outperform rating to a neutral rating and set a $56.00 price target on the stock. in a research report on Wednesday, February 7th. Bank of America downgraded FMC from a neutral rating to an underperform rating and lowered their price objective for the stock from $60.00 to $57.00 in a research report on Tuesday, January 16th. Wolfe Research assumed coverage on FMC in a research report on Friday, March 1st. They set a peer perform rating for the company. Finally, Mizuho raised their price target on FMC from $55.00 to $57.00 and gave the company a neutral rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, FMC has a consensus rating of Hold and an average price target of $71.88.

Insiders Place Their Bets

In related news, CFO Andrew D. Sandifer acquired 2,150 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average cost of $59.22 per share, with a total value of $127,323.00. Following the transaction, the chief financial officer now directly owns 50,088 shares of the company’s stock, valued at approximately $2,966,211.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.81% of the company’s stock.

About FMC

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.