Seaport Res Ptn Has Negative Outlook of FMC FY2024 Earnings

FMC Co. (NYSE:FMC) – Equities research analysts at Seaport Res Ptn lowered their FY2024 earnings estimates for shares of FMC in a report released on Wednesday, January 22nd. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will post earnings of $3.28 per share for the year, down from their prior estimate of $3.35. The consensus estimate for FMC’s current full-year earnings is $3.34 per share. Seaport Res Ptn also issued estimates for FMC’s FY2025 earnings at $4.57 EPS.

FMC (NYSE:FMC) last posted its quarterly earnings data 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 business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm posted $0.44 earnings per share. FMC’s quarterly revenue was up 8.5% on a year-over-year basis.

A number of other brokerages have also recently issued reports on FMC. KeyCorp dropped their price target on shares of FMC from $79.00 to $69.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Bank of America upgraded shares of FMC from an “underperform” rating to a “neutral” rating and cut their price target for the company from $63.00 to $61.00 in a report on Tuesday, January 14th. Mizuho decreased their price objective on shares of FMC from $70.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Citigroup cut their target price on FMC from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Finally, Barclays upgraded FMC from an “equal weight” rating to an “overweight” rating and set a $65.00 price target for the company in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $63.25.

FMC Trading Down 0.1 %

FMC stock opened at $55.59 on Friday. FMC has a 12 month low of $47.71 and a 12 month high of $68.72. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65. The business’s fifty day simple moving average is $53.75 and its two-hundred day simple moving average is $58.94. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 4.78, a price-to-earnings-growth ratio of 1.15 and a beta of 0.83.

Institutional Trading of FMC

Several hedge funds have recently bought and sold shares of the stock. abrdn plc lifted its position in shares of FMC by 98.4% during the 4th quarter. abrdn plc now owns 18,760 shares of the basic materials company’s stock valued at $902,000 after buying an additional 9,303 shares in the last quarter. McAdam LLC raised its stake in FMC by 28.3% during the 4th quarter. McAdam LLC now owns 5,291 shares of the basic materials company’s stock worth $257,000 after acquiring an additional 1,167 shares during the period. Osborne Partners Capital Management LLC lifted its holdings in FMC by 1.7% during the fourth quarter. Osborne Partners Capital Management LLC now owns 127,960 shares of the basic materials company’s stock valued at $6,220,000 after purchasing an additional 2,081 shares in the last quarter. Caprock Group LLC bought a new position in shares of FMC in the fourth quarter worth approximately $208,000. Finally, Kempner Capital Management Inc. increased its stake in shares of FMC by 188.1% in the fourth quarter. Kempner Capital Management Inc. now owns 61,362 shares of the basic materials company’s stock worth $2,983,000 after purchasing an additional 40,060 shares in the last quarter. Institutional investors own 91.86% of the company’s stock.

Insider Buying and Selling

In other news, VP Jacqueline Scanlan sold 4,529 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $59.67, for a total value of $270,245.43. Following the completion of the sale, the vice president now directly owns 28,649 shares in the company, valued at $1,709,485.83. This represents a 13.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.85% of the stock is currently owned by insiders.

FMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Tuesday, December 31st were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Tuesday, December 31st. FMC’s dividend payout ratio (DPR) is presently 19.97%.

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.