FMC (NYSE:FMC) Updates FY24 Earnings Guidance

FMC (NYSE:FMC) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $3.23-4.41 for the period, compared to the consensus EPS estimate of $3.75. The company issued revenue guidance of $4.50-4.70 billion, compared to the consensus revenue estimate of $4.53 billion. FMC also updated its FY 2024 guidance to 3.230-4.410 EPS.

FMC Price Performance

Shares of FMC stock traded down $0.87 on Monday, reaching $60.98. The company’s stock had a trading volume of 1,904,997 shares, compared to its average volume of 1,929,391. FMC has a 52-week low of $49.49 and a 52-week high of $114.66. The company has a market capitalization of $7.61 billion, a P/E ratio of 5.79, a PEG ratio of 1.99 and a beta of 0.88. The company has a quick ratio of 1.01, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average price of $60.27 and a 200-day moving average price of $57.83.

FMC (NYSE:FMC) last posted its quarterly earnings data on Monday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates 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 revenue was down 31.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.77 earnings per share. Analysts expect that FMC will post 3.88 EPS for the current 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 paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.80%. The ex-dividend date is Friday, June 28th. FMC’s dividend payout ratio is currently 22.03%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. BMO Capital Markets cut their price objective on shares of FMC from $63.00 to $61.00 and set a market perform rating for the company in a report on Wednesday, February 7th. Mizuho cut their target price on FMC from $59.00 to $55.00 and set a neutral rating for the company in a research note on Tuesday, February 6th. StockNews.com lowered shares of FMC from a hold rating to a sell rating in a report on Thursday, April 18th. Royal Bank of Canada lowered their price objective on FMC from $61.00 to $59.00 and set an outperform rating for the company in a research report on Thursday, February 8th. Finally, UBS Group upgraded FMC from a neutral rating to a buy rating and lifted their target price for the company from $61.00 to $84.00 in a research report on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $71.75.

Insider Activity at FMC

In other FMC news, CFO Andrew D. Sandifer bought 2,150 shares of FMC stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average price of $59.22 per share, for a total transaction of $127,323.00. Following the acquisition, the chief financial officer now owns 50,088 shares of the company’s stock, valued at approximately $2,966,211.36. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.81% of the stock is currently owned by insiders.

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.