$1.01 Billion in Sales Expected for FMC Corp (FMC) This Quarter
Wall Street analysts predict that FMC Corp (NYSE:FMC) will post sales of $1.01 billion for the current fiscal quarter, Zacks reports. Two analysts have made estimates for FMC’s earnings, with the lowest sales estimate coming in at $1.01 billion and the highest estimate coming in at $1.02 billion. FMC reported sales of $646.20 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 56.3%. The firm is scheduled to report its next earnings results after the market closes on Monday, November 5th.
According to Zacks, analysts expect that FMC will report full-year sales of $4.63 billion for the current financial year, with estimates ranging from $4.60 billion to $4.69 billion. For the next year, analysts expect that the firm will post sales of $4.96 billion, with estimates ranging from $4.80 billion to $5.04 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover FMC.
FMC (NYSE:FMC) last issued its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $1.78 EPS for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.06. FMC had a return on equity of 27.12% and a net margin of 23.96%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. The firm’s revenue was up 92.2% compared to the same quarter last year.
In other FMC news, Director Dirk A. Kempthorne purchased 1,173 shares of the business’s stock in a transaction that occurred on Tuesday, August 28th. The stock was purchased at an average price of $86.12 per share, for a total transaction of $101,018.76. Following the purchase, the director now directly owns 35,783 shares in the company, valued at $3,081,631.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mark Douglas purchased 4,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was acquired at an average price of $86.13 per share, with a total value of $366,052.50. Following the purchase, the chief operating officer now owns 59,943 shares in the company, valued at $5,162,890.59. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can increased its stake in shares of FMC by 30.7% in the 3rd quarter. Bank of Montreal Can now owns 65,778 shares of the basic materials company’s stock valued at $5,733,000 after purchasing an additional 15,466 shares in the last quarter. Peoples Financial Services CORP. purchased a new position in shares of FMC in the 3rd quarter valued at about $506,000. Weybosset Research & Management LLC increased its stake in shares of FMC by 2.2% in the 3rd quarter. Weybosset Research & Management LLC now owns 86,406 shares of the basic materials company’s stock valued at $7,533,000 after purchasing an additional 1,836 shares in the last quarter. DNB Asset Management AS increased its stake in shares of FMC by 18.4% in the 3rd quarter. DNB Asset Management AS now owns 18,672 shares of the basic materials company’s stock valued at $1,628,000 after purchasing an additional 2,900 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp purchased a new position in shares of FMC in the 3rd quarter valued at about $6,761,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.
FMC traded up $1.70 on Monday, reaching $84.86. 1,375,129 shares of the stock were exchanged, compared to its average volume of 1,292,836. FMC has a fifty-two week low of $72.73 and a fifty-two week high of $98.70. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.24 and a current ratio of 1.63. The stock has a market cap of $11.74 billion, a P/E ratio of 31.31, a P/E/G ratio of 0.78 and a beta of 1.59.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 18th. Stockholders of record on Friday, September 28th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.66 annualized dividend and a dividend yield of 0.78%. FMC’s dividend payout ratio (DPR) is presently 24.35%.
FMC Company Profile
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.
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