FY2017 EPS Estimates for FMC Corp Decreased by Analyst (FMC)
FMC Corp (NYSE:FMC) – Research analysts at Seaport Global Securities cut their FY2017 earnings estimates for shares of FMC in a note issued to investors on Monday. Seaport Global Securities analyst M. Harrison now anticipates that the basic materials company will post earnings of $2.64 per share for the year, down from their previous estimate of $2.66. Seaport Global Securities also issued estimates for FMC’s Q4 2017 earnings at $1.03 EPS, Q1 2018 earnings at $1.11 EPS, Q2 2018 earnings at $1.26 EPS, Q3 2018 earnings at $1.28 EPS, Q4 2018 earnings at $1.48 EPS and FY2018 earnings at $5.13 EPS.
Several other brokerages also recently issued reports on FMC. BMO Capital Markets upped their price objective on shares of FMC from $80.00 to $90.00 and gave the company a “market perform” rating in a research note on Wednesday, November 8th. They noted that the move was a valuation call. KeyCorp reissued a “buy” rating and set a $112.00 price objective on shares of FMC in a research note on Monday, December 4th. Piper Jaffray Companies reissued a “hold” rating and set a $92.00 price objective on shares of FMC in a research note on Friday, November 10th. Royal Bank of Canada reissued an “outperform” rating and set a $110.00 price objective (up previously from $102.00) on shares of FMC in a research note on Thursday, November 9th. Finally, Zacks Investment Research downgraded shares of FMC from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 10th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $95.25.
FMC (NYSE:FMC) last announced its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.70 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $646.20 million for the quarter, compared to the consensus estimate of $686.21 million. During the same quarter in the prior year, the firm earned $0.67 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year.
A number of hedge funds have recently modified their holdings of the stock. Great West Life Assurance Co. Can increased its position in FMC by 0.6% during the third quarter. Great West Life Assurance Co. Can now owns 91,917 shares of the basic materials company’s stock worth $8,077,000 after purchasing an additional 572 shares during the last quarter. Gabelli Funds LLC increased its position in FMC by 1.8% during the third quarter. Gabelli Funds LLC now owns 34,600 shares of the basic materials company’s stock worth $3,090,000 after purchasing an additional 600 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in FMC by 3.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 26,863 shares of the basic materials company’s stock worth $2,543,000 after purchasing an additional 852 shares during the last quarter. Hardman Johnston Global Advisors LLC increased its position in FMC by 0.3% during the fourth quarter. Hardman Johnston Global Advisors LLC now owns 268,226 shares of the basic materials company’s stock worth $25,390,000 after purchasing an additional 870 shares during the last quarter. Finally, Sandy Spring Bank increased its position in FMC by 16.8% during the fourth quarter. Sandy Spring Bank now owns 6,915 shares of the basic materials company’s stock worth $655,000 after purchasing an additional 993 shares during the last quarter. 89.36% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Nicholas Pfeiffer sold 375 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $90.33, for a total transaction of $33,873.75. Following the completion of the transaction, the insider now owns 6,856 shares of the company’s stock, valued at $619,302.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 18th. Investors of record on Friday, December 29th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, December 28th. FMC’s dividend payout ratio (DPR) is 45.21%.
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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