FMC (NYSE:FMC) Updates Q2 2024 Earnings Guidance

FMC (NYSE:FMC) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.430-0.720 for the period, compared to the consensus earnings per share estimate of 0.600. The company issued revenue guidance of $1.0 billion-$1.2 billion, compared to the consensus revenue estimate of $1.1 billion.

Analyst Ratings Changes

Several brokerages recently commented on FMC. Loop Capital lifted their price target on shares of FMC from $55.00 to $65.00 and gave the stock a hold rating in a research note on Tuesday, March 19th. Wells Fargo & Company lifted their price objective on shares of FMC from $65.00 to $68.00 and gave the company an equal weight rating in a research note on Wednesday, May 8th. StockNews.com upgraded shares of FMC from a sell rating to a hold rating in a research note on Wednesday, May 8th. Wolfe Research started coverage on shares of FMC in a research note on Friday, March 1st. They issued a peer perform rating on the stock. Finally, UBS Group upgraded shares of FMC from a neutral rating to a buy rating and lifted their price objective for the company from $61.00 to $84.00 in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and an average price target of $70.56.

FMC Stock Up 1.3 %

Shares of NYSE FMC opened at $57.14 on Tuesday. FMC has a 12-month low of $49.49 and a 12-month high of $107.15. The company has a market capitalization of $7.13 billion, a PE ratio of 6.38, a price-to-earnings-growth ratio of 1.17 and a beta of 0.88. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.46 and a quick ratio of 1.02. The firm’s 50-day moving average is $59.87 and its two-hundred day moving average is $59.28.

FMC (NYSE:FMC) last announced its quarterly earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. FMC had a net margin of 27.65% and a return on equity of 7.68%. The company had revenue of $918.00 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm earned $1.77 earnings per share. The company’s revenue for the quarter was down 31.7% compared to the same quarter last year. Equities analysts anticipate that FMC will post 3.6 EPS for the current fiscal year.

FMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Friday, June 28th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend is Friday, June 28th. FMC’s dividend payout ratio is presently 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.