KeyCorp Forecasts Strong Price Appreciation for FMC (NYSE:FMC) Stock

FMC (NYSE:FMC) had its price objective raised by KeyCorp from $53.00 to $61.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s target price suggests a potential upside of 47.45% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Barclays raised their price objective on shares of FMC from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Wells Fargo & Company upgraded FMC from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $41.00 to $50.00 in a research report on Monday, June 23rd. Wall Street Zen raised FMC from a “sell” rating to a “hold” rating in a research report on Saturday, June 14th. Mizuho upgraded shares of FMC from a “neutral” rating to an “outperform” rating and set a $49.00 price objective for the company in a research note on Friday, April 25th. Finally, Royal Bank Of Canada raised their price objective on shares of FMC from $40.00 to $47.00 and gave the stock a “sector perform” rating in a report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.15.

FMC Stock Performance

Shares of NYSE FMC opened at $41.37 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.54 and a quick ratio of 1.12. The company has a market capitalization of $5.17 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.27 and a beta of 0.77. The business’s 50-day moving average price is $41.15 and its two-hundred day moving average price is $42.22. FMC has a one year low of $32.83 and a one year high of $68.55.

FMC (NYSE:FMC) last issued its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.10. FMC had a return on equity of 9.12% and a net margin of 7.97%. The business had revenue of $791.40 million for the quarter, compared to the consensus estimate of $783.70 million. During the same period last year, the business earned $0.36 EPS. The firm’s revenue was down 13.8% compared to the same quarter last year. Analysts anticipate that FMC will post 3.48 earnings per share for the current fiscal year.

Institutional Trading of FMC

Several hedge funds have recently modified their holdings of FMC. Proficio Capital Partners LLC acquired a new position in FMC during the fourth quarter valued at approximately $1,505,000. Raymond James Financial Inc. acquired a new position in shares of FMC during the 4th quarter worth approximately $5,573,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in FMC by 6.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,901 shares of the basic materials company’s stock worth $1,891,000 after acquiring an additional 2,402 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in FMC by 16.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 6,704 shares of the basic materials company’s stock valued at $326,000 after purchasing an additional 946 shares during the last quarter. Finally, Wealthfront Advisers LLC boosted its stake in shares of FMC by 122.1% during the 4th quarter. Wealthfront Advisers LLC now owns 6,795 shares of the basic materials company’s stock worth $330,000 after acquiring an additional 3,735 shares during the period. 91.86% of the stock is owned by institutional investors.

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.