FMC (NYSE:FMC) Updates FY 2024 Earnings Guidance

FMC (NYSE:FMC) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 3.230-4.410 for the period, compared to the consensus EPS estimate of 3.780. The company issued revenue guidance of $4.5 billion-$4.7 billion, compared to the consensus revenue estimate of $4.5 billion. FMC also updated its FY24 guidance to $3.23-4.41 EPS.

FMC Stock Up 2.4 %

NYSE:FMC traded up $1.53 on Thursday, reaching $66.37. 316,739 shares of the stock traded hands, compared to its average volume of 1,972,016. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 6.16, a PEG ratio of 1.99 and a beta of 0.88. The company’s fifty day simple moving average is $60.99 and its 200 day simple moving average is $57.84. FMC has a 12 month low of $49.49 and a 12 month high of $112.10. The company has a current ratio of 1.52, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.

FMC (NYSE:FMC) last issued its quarterly earnings data on Monday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $918.00 million for the quarter, compared to the consensus estimate of $1.01 billion. FMC had a net margin of 29.45% and a return on equity of 12.98%. The firm’s revenue for the quarter was down 31.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.77 earnings per share. Equities analysts predict that FMC will post 3.88 EPS for the current fiscal year.

FMC Dividend Announcement

The company also recently announced 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 3.50%. The ex-dividend date of this dividend is Friday, June 28th. FMC’s dividend payout ratio is currently 22.03%.

Analysts Set New Price Targets

FMC has been the topic of several recent analyst reports. UBS Group raised shares of FMC from a neutral rating to a buy rating and increased their target price for the company from $61.00 to $84.00 in a research note on Wednesday, March 20th. Wells Fargo & Company increased their price objective on FMC from $65.00 to $68.00 and gave the stock an equal weight rating in a research note on Wednesday. BMO Capital Markets lowered their price objective on shares of FMC from $63.00 to $61.00 and set a market perform rating for the company in a research note on Wednesday, February 7th. BNP Paribas lowered 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, Wolfe Research began coverage on FMC in a research note on Friday, March 1st. They set a peer perform rating for the company. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $71.69.

Insider Transactions at FMC

In related news, CFO Andrew D. Sandifer bought 2,150 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average cost of $59.22 per share, for a total transaction of $127,323.00. Following the completion of the acquisition, the chief financial officer now owns 50,088 shares in the company, valued at approximately $2,966,211.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.81% of the company’s stock.

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.