FMC Corp. (FMC) Given Consensus Recommendation of “Hold” by Brokerages
FMC Corp. (NYSE:FMC) has earned a consensus rating of “Hold” from the fourteen analysts that are presently covering the stock. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $44.00.
Several brokerages have issued reports on FMC. KeyCorp reissued a “buy” rating on shares of FMC Corp. in a research note on Wednesday, June 29th. Zacks Investment Research cut shares of FMC Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Credit Suisse Group AG restated a “hold” rating and set a $44.00 price target on shares of FMC Corp. in a report on Wednesday, August 3rd. Susquehanna boosted their price target on shares of FMC Corp. from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, August 26th. Finally, Nomura restated a “hold” rating on shares of FMC Corp. in a report on Tuesday, July 12th.
Shares of FMC Corp. (NYSE:FMC) opened at 46.56 on Tuesday. FMC Corp. has a 12 month low of $32.24 and a 12 month high of $50.57. The stock’s market capitalization is $6.23 billion. The stock’s 50 day moving average price is $47.36 and its 200-day moving average price is $46.30.
FMC Corp. (NYSE:FMC) last announced its earnings results on Tuesday, August 2nd. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.02. FMC Corp. had a negative net margin of 2.79% and a positive return on equity of 16.35%. The company had revenue of $810.30 million for the quarter, compared to the consensus estimate of $889.70 million. During the same period in the previous year, the business earned $0.70 EPS. The company’s revenue was down 8.7% on a year-over-year basis. Equities analysts forecast that FMC Corp. will post $2.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Friday, September 30th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Wednesday, September 28th. FMC Corp.’s dividend payout ratio is -94.29%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FMC. Tredje AP fonden raised its position in FMC Corp. by 603.2% in the second quarter. Tredje AP fonden now owns 2,180 shares of the company’s stock worth $101,000 after buying an additional 1,870 shares in the last quarter. IFP Advisors Inc raised its position in FMC Corp. by 11,180.0% in the second quarter. IFP Advisors Inc now owns 2,256 shares of the company’s stock worth $104,000 after buying an additional 2,236 shares in the last quarter. Mizuho Asset Management Co. Ltd. raised its position in FMC Corp. by 112.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,347 shares of the company’s stock worth $109,000 after buying an additional 1,241 shares in the last quarter. Advisor Group Inc. purchased a new position in FMC Corp. during the second quarter worth $155,000. Finally, Investment Counselors of Maryland LLC raised its position in FMC Corp. by 3.0% in the second quarter. Investment Counselors of Maryland LLC now owns 3,394 shares of the company’s stock worth $157,000 after buying an additional 100 shares in the last quarter. 94.55% of the stock is owned by hedge funds and other institutional investors.
FMC Corp. Company Profile
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates through three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. The Company’s FMC Agricultural Solutions segment develops, markets and sells over three classes of crop protection chemicals, including insecticides, herbicides and fungicides.
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