FMC (NYSE:FMC) Issues Q2 2024 Earnings Guidance

FMC (NYSE:FMC) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of 0.430-0.720 for the period, compared to the consensus EPS estimate of 0.680. The company issued revenue guidance of $1.0 billion-$1.2 billion, compared to the consensus revenue estimate of $1.1 billion. FMC also updated its FY 2024 guidance to 3.230-4.410 EPS.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. BNP Paribas lowered shares of FMC from an outperform rating to a neutral rating and set a $56.00 price objective for the company. in a report on Wednesday, February 7th. Bank of America cut FMC from a neutral rating to an underperform rating and reduced their price objective for the stock from $60.00 to $57.00 in a research note on Tuesday, January 16th. BMO Capital Markets lowered their target price on shares of FMC from $63.00 to $61.00 and set a market perform rating for the company in a research note on Wednesday, February 7th. Loop Capital raised their price target on shares of FMC from $55.00 to $65.00 and gave the stock a hold rating in a research report on Tuesday, March 19th. Finally, Wells Fargo & Company increased their price objective on shares of FMC from $65.00 to $68.00 and gave the stock an equal weight rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $71.69.

FMC Price Performance

Shares of FMC stock traded up $1.53 on Thursday, hitting $66.37. The company had a trading volume of 316,739 shares, compared to its average volume of 1,972,016. FMC has a 52 week low of $49.49 and a 52 week high of $112.10. The company has a market cap of $8.28 billion, a PE ratio of 6.16, a PEG ratio of 1.99 and a beta of 0.88. The business has a 50-day simple moving average of $60.99 and a 200-day simple moving average of $57.84. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.01.

FMC (NYSE:FMC) last announced its quarterly earnings data on Monday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The business had revenue of $918.00 million during the quarter, compared to analyst estimates of $1.01 billion. FMC had a return on equity of 12.98% and a net margin of 29.45%. The company’s revenue was down 31.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.77 earnings per share. Research analysts expect that FMC will post 3.88 EPS for the current fiscal year.

FMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, June 28th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.50%. FMC’s payout ratio is currently 22.03%.

Insiders Place Their Bets

In related news, CFO Andrew D. Sandifer bought 2,150 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were bought at an average cost of $59.22 per share, with a total value of $127,323.00. Following the completion of the transaction, the chief financial officer now directly owns 50,088 shares of the company’s stock, valued at $2,966,211.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.81% of the stock is currently owned by company insiders.

FMC Company Profile

FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. It develops, markets, and sells crop protection chemicals that includes insecticides, herbicides, and fungicides; and biologicals, crop nutrition, and seed treatment products, which 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.