Royal Bank of Canada Issues Positive Forecast for FMC (NYSE:FMC) Stock Price

FMC (NYSE:FMC) had its target price lifted by equities researchers at Royal Bank of Canada from $78.00 to $81.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 28.00% from the company’s current price.

FMC has been the subject of a number of other reports. BMO Capital Markets upped their price target on shares of FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Friday, August 2nd. Citigroup began coverage on shares of FMC in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $67.00 price target for the company. Redburn Atlantic raised shares of FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. upped their price target on shares of FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, Wells Fargo & Company reduced their price target on shares of FMC from $68.00 to $62.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $67.00.

FMC Stock Performance

NYSE FMC traded down $1.71 on Friday, hitting $63.28. The stock had a trading volume of 448,083 shares, compared to its average volume of 1,694,135. FMC has a one year low of $49.49 and a one year high of $68.72. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.65. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 5.45, a P/E/G ratio of 1.71 and a beta of 0.85. The company’s 50-day moving average is $63.25 and its two-hundred day moving average is $60.84.

FMC (NYSE:FMC) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.49 by $0.20. FMC had a net margin of 34.93% and a return on equity of 7.68%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. FMC’s quarterly revenue was up 8.5% on a year-over-year basis. On average, analysts expect that FMC will post 3.3 earnings per share for the current year.

Institutional Investors Weigh In On FMC

Hedge funds have recently made changes to their positions in the company. Mather Group LLC. increased its stake in FMC by 250.6% in the 3rd quarter. Mather Group LLC. now owns 554 shares of the basic materials company’s stock valued at $37,000 after buying an additional 396 shares during the period. LRI Investments LLC acquired a new position in FMC in the 1st quarter valued at approximately $39,000. UMB Bank n.a. increased its stake in FMC by 56.9% in the 2nd quarter. UMB Bank n.a. now owns 678 shares of the basic materials company’s stock valued at $39,000 after buying an additional 246 shares during the period. Sentry Investment Management LLC acquired a new position in FMC in the 1st quarter valued at approximately $45,000. Finally, EntryPoint Capital LLC increased its stake in FMC by 1,282.3% in the 1st quarter. EntryPoint Capital LLC now owns 857 shares of the basic materials company’s stock valued at $55,000 after buying an additional 795 shares during the period. Hedge funds and other institutional investors own 91.86% of the company’s stock.

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.