FMC (NYSE:FMC) Releases Q2 Earnings Guidance

FMC (NYSE:FMC) updated its second quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.43-0.72 for the period, compared to the consensus estimate of $0.67. The company issued revenue guidance of $1.00-1.15 billion, compared to the consensus revenue estimate of $1.06 billion. FMC also updated its FY 2024 guidance to 3.230-4.410 EPS.

FMC Stock Performance

FMC traded down $0.87 on Monday, reaching $60.98. The company had a trading volume of 1,904,997 shares, compared to its average volume of 1,929,391. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.52. The company’s fifty day moving average is $60.27 and its 200 day moving average is $57.83. FMC has a fifty-two week low of $49.49 and a fifty-two week high of $114.66. The stock has a market cap of $7.61 billion, a P/E ratio of 5.79, a P/E/G ratio of 1.99 and a beta of 0.88.

FMC (NYSE:FMC) last announced its quarterly earnings data on Monday, May 6th. The basic materials company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.13). The company had revenue of $918.00 million for 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 business’s quarterly revenue was down 31.7% compared to the same quarter last year. During the same period last year, the business earned $1.77 EPS. As a group, analysts predict that FMC will post 3.88 earnings per share for the current fiscal year.

FMC Announces Dividend

The company also recently disclosed 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. This represents a $2.32 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Friday, June 28th. FMC’s dividend payout ratio (DPR) is currently 22.03%.

Analysts Set New Price Targets

Several analysts have recently issued reports on FMC shares. Loop Capital upped their price target on shares of FMC from $55.00 to $65.00 and gave the company a hold rating in a research note on Tuesday, March 19th. Royal Bank of Canada lowered their price target on shares of FMC from $61.00 to $59.00 and set an outperform rating on the stock in a report on Thursday, February 8th. KeyCorp increased their target price on shares of FMC from $76.00 to $79.00 and gave the stock an overweight rating in a research note on Tuesday, April 9th. BNP Paribas lowered shares of FMC from an outperform rating to a neutral rating and set a $56.00 price target for the company. in a research report on Wednesday, February 7th. Finally, StockNews.com lowered FMC from a hold rating to a sell rating in a research note on Thursday, April 18th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, FMC currently has an average rating of Hold and an average target price of $71.75.

Insider Buying and Selling at FMC

In other news, CFO Andrew D. Sandifer bought 2,150 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average price of $59.22 per share, for a total transaction of $127,323.00. Following the purchase, the chief financial officer now owns 50,088 shares in the company, valued at $2,966,211.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.81% of the stock is owned by corporate insiders.

About FMC

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.