FMC (NYSE:FMC) Issues FY 2024 Earnings Guidance

FMC (NYSE:FMC) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 3.160-3.520 for the period, compared to the consensus earnings per share estimate of 3.280. The company issued revenue guidance of $4.3 billion-$4.4 billion, compared to the consensus revenue estimate of $4.4 billion. FMC also updated its FY24 guidance to $3.16-3.52 EPS.

FMC Stock Performance

Shares of NYSE FMC traded down $1.38 during trading on Tuesday, hitting $60.16. The company had a trading volume of 1,308,357 shares, compared to its average volume of 1,693,203. FMC has a 12 month low of $49.49 and a 12 month high of $68.72. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.07 and a current ratio of 1.48. The firm has a market capitalization of $7.51 billion, a P/E ratio of 5.43, a price-to-earnings-growth ratio of 1.59 and a beta of 0.85. The stock has a 50 day simple moving average of $63.18 and a 200 day simple moving average of $60.77.

FMC (NYSE:FMC) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. FMC had a net margin of 33.97% and a return on equity of 7.52%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 EPS. As a group, analysts anticipate that FMC will post 3.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Citigroup initiated coverage on shares of FMC in a report on Wednesday, October 23rd. They set a “neutral” rating and a $67.00 price objective for the company. KeyCorp lowered their target price on shares of FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Barclays raised their target price on shares of FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company dropped their price objective on shares of FMC from $68.00 to $62.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $67.00.

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.