Seaport Res Ptn Has Bearish Forecast for FMC FY2024 Earnings

FMC Co. (NYSE:FMC) – Investment analysts at Seaport Res Ptn lowered their FY2024 earnings per share estimates for shares of FMC in a research report issued to clients and investors on Wednesday, January 22nd. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will post earnings of $3.28 per share for the year, down from their prior forecast 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 has been the topic of several other reports. Barclays raised shares of FMC from an “equal weight” rating to an “overweight” rating and set a $65.00 target price on the stock in a research note on Tuesday. Mizuho decreased their target price on shares of FMC from $70.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Citigroup cut their price objective on FMC from $70.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Bank of America raised FMC from an “underperform” rating to a “neutral” rating and decreased their target price for the stock from $63.00 to $61.00 in a research report on Tuesday, January 14th. Finally, 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 report on Thursday, January 2nd. Ten analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $63.25.

FMC Stock Up 2.3 %

FMC stock opened at $55.70 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.48 and a quick ratio of 1.09. The firm has a market capitalization of $6.95 billion, a P/E ratio of 4.79, a P/E/G ratio of 1.15 and a beta of 0.83. FMC has a 52-week low of $47.71 and a 52-week high of $68.72. The company’s 50 day simple moving average is $53.73 and its 200-day simple moving average is $58.95.

FMC (NYSE:FMC) last posted its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.20. FMC had a return on equity of 7.68% and a net margin of 34.93%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company earned $0.44 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Caprock Group LLC acquired a new stake in FMC during the fourth quarter worth $208,000. Kempner Capital Management Inc. lifted its holdings in shares of FMC by 188.1% during the 4th quarter. Kempner Capital Management Inc. now owns 61,362 shares of the basic materials company’s stock worth $2,983,000 after acquiring an additional 40,060 shares during the period. Washington Capital Management Inc. boosted its position in shares of FMC by 77.8% during the 4th quarter. Washington Capital Management Inc. now owns 9,600 shares of the basic materials company’s stock valued at $467,000 after acquiring an additional 4,200 shares in the last quarter. tru Independence LLC increased its stake in FMC by 28.9% in the fourth quarter. tru Independence LLC now owns 104,090 shares of the basic materials company’s stock valued at $5,060,000 after acquiring an additional 23,360 shares during the period. Finally, Pacer Advisors Inc. increased its stake in FMC by 77.0% in the fourth quarter. Pacer Advisors Inc. now owns 34,834 shares of the basic materials company’s stock valued at $1,693,000 after acquiring an additional 15,152 shares during the period. 91.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at FMC

In other FMC news, VP Jacqueline Scanlan sold 4,529 shares of the firm’s stock in a transaction that occurred 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 owns 28,649 shares in the company, valued at approximately $1,709,485.83. This trade represents a 13.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.85% of the company’s stock.

FMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Tuesday, December 31st were given a $0.58 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.32 annualized dividend and a yield of 4.17%. FMC’s dividend payout ratio is 19.97%.

About FMC

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.