Q3 2018 EPS Estimates for FMC Corp (NYSE:FMC) Cut by Analyst

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FMC Corp (NYSE:FMC) – Research analysts at Seaport Global Securities lowered their Q3 2018 earnings per share estimates for shares of FMC in a note issued to investors on Wednesday, October 17th, according to Zacks Investment Research. Seaport Global Securities analyst M. Harrison now expects that the basic materials company will earn $0.90 per share for the quarter, down from their previous estimate of $0.91. Seaport Global Securities also issued estimates for FMC’s Q3 2019 earnings at $1.12 EPS and FY2019 earnings at $6.73 EPS.

Several other brokerages have also recently issued reports on FMC. Zacks Investment Research cut FMC from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. ValuEngine cut FMC from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Loop Capital initiated coverage on FMC in a research report on Friday. They set a “buy” rating and a $118.00 price objective on the stock. Credit Suisse Group initiated coverage on FMC in a research report on Monday, November 5th. They set an “outperform” rating and a $103.00 price objective on the stock. Finally, Citigroup initiated coverage on FMC in a research report on Monday, November 5th. They set a “buy” rating and a $92.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. FMC presently has an average rating of “Buy” and a consensus target price of $101.42.

Shares of NYSE:FMC traded down $0.10 on Thursday, hitting $83.57. 1,241,731 shares of the company traded hands, compared to its average volume of 1,377,359. The company has a market capitalization of $11.30 billion, a PE ratio of 30.84, a PEG ratio of 0.75 and a beta of 1.60. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.54 and a quick ratio of 1.24. FMC has a 52 week low of $72.73 and a 52 week high of $98.70.

FMC (NYSE:FMC) last issued its quarterly earnings results on Monday, November 5th. The basic materials company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.06. FMC had a return on equity of 26.26% and a net margin of 22.28%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $0.70 earnings per share. The company’s revenue was up 60.4% on a year-over-year basis.

In other news, COO Mark Douglas acquired 4,250 shares of FMC stock in a transaction on Tuesday, August 14th. The shares were 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 directly owns 59,943 shares in the company, valued at approximately $5,162,890.59. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dirk A. Kempthorne acquired 1,173 shares of FMC stock in a transaction on Tuesday, August 28th. The stock was purchased at an average cost of $86.12 per share, for a total transaction of $101,018.76. Following the purchase, the director now owns 35,783 shares in the company, valued at $3,081,631.96. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of FMC by 1.6% during the 2nd quarter. BlackRock Inc. now owns 9,035,632 shares of the basic materials company’s stock valued at $806,069,000 after purchasing an additional 143,241 shares during the last quarter. FMR LLC boosted its holdings in FMC by 2.6% during the 3rd quarter. FMR LLC now owns 6,171,637 shares of the basic materials company’s stock valued at $538,044,000 after acquiring an additional 154,747 shares during the period. Boston Partners boosted its holdings in FMC by 29.2% during the 2nd quarter. Boston Partners now owns 4,220,507 shares of the basic materials company’s stock valued at $376,511,000 after acquiring an additional 953,377 shares during the period. King Luther Capital Management Corp boosted its holdings in FMC by 2.9% during the 2nd quarter. King Luther Capital Management Corp now owns 2,483,582 shares of the basic materials company’s stock valued at $221,560,000 after acquiring an additional 69,370 shares during the period. Finally, Northern Trust Corp boosted its holdings in FMC by 7.0% during the 2nd quarter. Northern Trust Corp now owns 2,427,168 shares of the basic materials company’s stock valued at $216,528,000 after acquiring an additional 158,579 shares during the period. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for FMC (NYSE:FMC)

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