FMC Corporation (FMC) to Post FY2018 Earnings of $5.50 Per Share, KeyCorp Forecasts
FMC Corporation (NYSE:FMC) – Analysts at KeyCorp lifted their FY2018 earnings estimates for shares of FMC in a research report issued to clients and investors on Sunday. KeyCorp analyst M. Sison now anticipates that the basic materials company will post earnings of $5.50 per share for the year, up from their previous estimate of $5.40. KeyCorp has a “Buy” rating and a $112.00 price target on the stock.
Several other analysts have also recently weighed in on the stock. Bank of America upgraded shares of FMC from an “underperform” rating to a “buy” rating and raised their price objective for the company from $66.00 to $103.00 in a research report on Thursday, August 31st. Robert W. Baird restated a “hold” rating and set a $86.00 price objective on shares of FMC in a research report on Tuesday, September 12th. Piper Jaffray Companies restated a “hold” rating and set a $85.00 price objective on shares of FMC in a research report on Tuesday, September 5th. Jefferies Group restated a “buy” rating and set a $100.00 price objective on shares of FMC in a research report on Friday, September 15th. Finally, Zacks Investment Research upgraded shares of FMC from a “hold” rating to a “strong-buy” rating and set a $103.00 price objective on the stock in a research report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company. FMC has a consensus rating of “Buy” and an average price target of $92.61.
FMC (NYSE:FMC) traded up $0.26 during trading on Tuesday, hitting $88.25. 1,345,882 shares of the stock traded hands, compared to its average volume of 1,275,381. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.81 and a current ratio of 2.19. The stock has a market cap of $12,063.42, a PE ratio of 36.08, a P/E/G ratio of 3.01 and a beta of 1.61. FMC has a 12-month low of $56.35 and a 12-month high of $95.25.
FMC (NYSE:FMC) last announced its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.07. FMC had a net margin of 0.78% and a return on equity of 16.77%. The firm had revenue of $646.20 million during the quarter, compared to the consensus estimate of $686.21 million. During the same period last year, the firm earned $0.67 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year.
Large investors have recently modified their holdings of the stock. Advisor Partners LLC purchased a new position in FMC in the 3rd quarter worth $216,000. Achmea Investment Management B.V. purchased a new position in FMC in the 3rd quarter worth $246,000. Nordea Investment Management AB raised its position in FMC by 99.7% in the 3rd quarter. Nordea Investment Management AB now owns 8,042 shares of the basic materials company’s stock worth $718,000 after purchasing an additional 4,015 shares during the period. Virginia Retirement Systems ET AL purchased a new position in FMC in the 3rd quarter worth $831,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of FMC by 28.7% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,815 shares of the basic materials company’s stock valued at $1,145,000 after acquiring an additional 2,860 shares during the period. Institutional investors own 89.34% of the company’s stock.
FMC 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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