Royal Bank Of Canada Has Lowered Expectations for FMC (NYSE:FMC) Stock Price

FMC (NYSE:FMC) had its price target dropped by stock analysts at Royal Bank Of Canada from $9.00 to $7.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank Of Canada‘s target price indicates a potential upside of 12.96% from the stock’s current price.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group reissued a “buy” rating and set a $18.00 price objective on shares of FMC in a report on Friday, July 31st. Mizuho set a $10.00 price target on FMC in a report on Thursday, October 15th. Jefferies Financial Group began coverage on FMC in a report on Monday. They set a “hold” rating and a $6.00 target price for the company. Citigroup cut their price target on FMC from $12.00 to $6.00 and set a “neutral” rating on the stock in a research note on Monday, October 19th. Finally, BMO Capital Markets dropped their price target on shares of FMC from $11.00 to $7.50 and set a “market perform” rating for the company in a research note on Friday, October 16th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $11.18.

FMC Stock Down 0.0%

Shares of FMC stock traded down $0.00 on Monday, reaching $6.20. 473,616 shares of the company were exchanged, compared to its average volume of 4,340,162. The stock’s 50 day moving average price is $9.13 and its 200-day moving average price is $12.46. The company has a market cap of $776.05 million, a P/E ratio of -0.18 and a beta of 0.50. FMC has a 1-year low of $4.37 and a 1-year high of $18.29. The company has a debt-to-equity ratio of 416.31, a current ratio of 1.66 and a quick ratio of 1.18.

FMC (NYSE:FMC) last posted its earnings results on Thursday, October 29th. The basic materials company reported ($4.41) EPS for the quarter, missing the consensus estimate of $0.08 by ($4.49). FMC had a negative net margin of 151.18% and a negative return on equity of 30.77%. The business had revenue of $105.90 million during the quarter, compared to analysts’ expectations of $487.63 million. During the same period last year, the company earned $0.89 EPS. The business’s quarterly revenue was down 80.5% compared to the same quarter last year. As a group, equities analysts forecast that FMC will post -3.58 EPS for the current year.

Institutional Trading of FMC

A number of institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new stake in shares of FMC in the second quarter valued at $8,498,000. AXQ Capital LP lifted its position in shares of FMC by 109.9% during the 2nd quarter. AXQ Capital LP now owns 366,661 shares of the basic materials company’s stock valued at $4,217,000 after acquiring an additional 191,945 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of FMC by 142.4% during the 2nd quarter. Wellington Management Group LLP now owns 235,089 shares of the basic materials company’s stock worth $2,704,000 after acquiring an additional 138,098 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of FMC in the 1st quarter worth $1,401,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of FMC during the second quarter worth $1,175,000. 91.86% of the stock is owned by institutional investors and hedge funds.

FMC Company Profile

FMC Corporation (NYSE: FMC) is an agricultural sciences company that develops and markets crop protection products and technologies. Its portfolio is designed to help farmers manage weeds, insects and diseases that can affect crop yields and quality.

The company’s products include herbicides, insecticides, fungicides, biological crop protection products and seed treatment solutions. FMC also develops crop health technologies and digital tools intended to support more precise and efficient agricultural applications.

FMC serves farmers, agricultural retailers and distributors in major farming regions around the world, with products used across a broad range of crops.