FMC Co. (NYSE:FMC) Forecasted to Post Q3 2024 Earnings of $0.52 Per Share

FMC Co. (NYSE:FMC) – Equities research analysts at Seaport Res Ptn lowered their Q3 2024 earnings estimates for FMC in a report issued on Monday, August 5th. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will post earnings per share of $0.52 for the quarter, down from their previous estimate of $0.76. The consensus estimate for FMC’s current full-year earnings is $3.17 per share. Seaport Res Ptn also issued estimates for FMC’s Q4 2024 earnings at $1.80 EPS, FY2024 earnings at $3.32 EPS, Q1 2025 earnings at $1.09 EPS and Q2 2025 earnings at $1.20 EPS.

A number of other brokerages have also weighed in on FMC. StockNews.com raised shares of FMC from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. KeyCorp reduced their price objective on shares of FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. BMO Capital Markets raised their price objective on shares of FMC from $60.00 to $65.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. Redburn Atlantic raised shares of FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada raised their price objective on shares of FMC from $65.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $68.06.

FMC Stock Performance

Shares of FMC stock opened at $61.44 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 1.02. The firm has a market cap of $7.67 billion, a P/E ratio of 6.86, a P/E/G ratio of 1.65 and a beta of 0.84. The firm has a 50 day simple moving average of $57.74 and a 200 day simple moving average of $58.92. FMC has a fifty-two week low of $49.49 and a fifty-two week high of $90.33.

FMC (NYSE:FMC) last issued its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. FMC had a net margin of 33.97% and a return on equity of 7.52%. FMC’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 earnings per share.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Riverview Trust Co bought a new position in shares of FMC during the first quarter valued at about $27,000. Financial Connections Group Inc. bought a new position in shares of FMC during the fourth quarter valued at about $31,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of FMC by 114.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 568 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 303 shares in the last quarter. LRI Investments LLC bought a new position in shares of FMC during the first quarter valued at about $39,000. Finally, UMB Bank n.a. lifted its position in shares of FMC by 56.9% during the second quarter. UMB Bank n.a. now owns 678 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 246 shares in the last quarter. 91.86% of the stock is owned by institutional investors.

FMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Monday, September 30th. FMC’s dividend payout ratio (DPR) is 25.89%.

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.