FY2018 Earnings Estimate for FMC Corporation Issued By Jefferies Group (NYSE:FMC)
FMC Corporation (NYSE:FMC) – Research analysts at Jefferies Group increased their FY2018 earnings per share estimates for shares of FMC Corporation in a research note issued on Tuesday. Jefferies Group analyst L. Alexander now expects that the basic materials company will post earnings per share of $5.00 for the year, up from their prior estimate of $4.55. Jefferies Group currently has a “Buy” rating and a $100.00 price target on the stock. Jefferies Group also issued estimates for FMC Corporation’s FY2020 earnings at $5.55 EPS.
FMC Corporation (NYSE:FMC) last released its earnings results on Tuesday, August 1st. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. The firm had revenue of $656.80 million for the quarter, compared to analyst estimates of $614.01 million. FMC Corporation had a return on equity of 16.51% and a net margin of 1.58%. FMC Corporation’s revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 earnings per share.
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FMC has been the subject of a number of other research reports. Zacks Investment Research downgraded FMC Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Royal Bank Of Canada restated a “buy” rating and set a $83.00 target price on shares of FMC Corporation in a research report on Monday, June 5th. Nomura restated a “hold” rating and set a $78.00 target price on shares of FMC Corporation in a research report on Monday, May 8th. TheStreet upgraded FMC Corporation from a “c+” rating to a “b-” rating in a research report on Thursday, May 4th. Finally, Credit Suisse Group set a $85.00 target price on FMC Corporation and gave the stock a “buy” rating in a research report on Monday, June 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $81.22.
FMC Corporation (FMC) traded up 1.21% on Friday, reaching $84.35. The company had a trading volume of 1,097,534 shares. FMC Corporation has a 12 month low of $44.40 and a 12 month high of $84.48. The company’s 50 day moving average price is $75.56 and its 200-day moving average price is $68.92. The company has a market capitalization of $11.32 billion, a price-to-earnings ratio of 248.82 and a beta of 1.62.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Friday, September 29th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.66 dividend on an annualized basis and a yield of 0.78%. FMC Corporation’s payout ratio is 188.58%.
In other FMC Corporation news, insider Eric Norris sold 11,358 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $75.75, for a total value of $860,368.50. Following the completion of the transaction, the insider now directly owns 28,750 shares of the company’s stock, valued at $2,177,812.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark Douglas sold 12,697 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $75.82, for a total value of $962,686.54. Following the completion of the transaction, the insider now directly owns 73,690 shares of the company’s stock, valued at $5,587,175.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,489 shares of company stock valued at $3,118,310. Insiders own 1.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Contravisory Investment Management Inc. boosted its position in FMC Corporation by 163.4% in the first quarter. Contravisory Investment Management Inc. now owns 1,520 shares of the basic materials company’s stock worth $106,000 after buying an additional 943 shares during the last quarter. Acrospire Investment Management LLC boosted its position in FMC Corporation by 522.9% in the first quarter. Acrospire Investment Management LLC now owns 1,906 shares of the basic materials company’s stock worth $133,000 after buying an additional 1,600 shares during the last quarter. Aviance Capital Management LLC acquired a new position in FMC Corporation during the first quarter worth about $200,000. United Capital Financial Advisers LLC acquired a new position in FMC Corporation during the first quarter worth about $202,000. Finally, Conning Inc. acquired a new position in FMC Corporation during the first quarter worth about $220,000. 90.19% of the stock is owned by hedge funds and other institutional investors.
FMC Corporation Company Profile
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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