Equities analysts expect that FMC Corp (NYSE:FMC) will post sales of $977.50 million for the current quarter, according to Zacks. Two analysts have issued estimates for FMC’s earnings, with the highest sales estimate coming in at $980.00 million and the lowest estimate coming in at $975.00 million. FMC posted sales of $1.04 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 6%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, October 29th.
On average, analysts expect that FMC will report full year sales of $4.55 billion for the current year, with estimates ranging from $4.53 billion to $4.58 billion. For the next year, analysts anticipate that the business will post sales of $4.84 billion, with estimates ranging from $4.74 billion to $5.06 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover FMC.
FMC (NYSE:FMC) last released its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.03. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.20 billion. FMC had a return on equity of 27.33% and a net margin of 10.65%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.78 earnings per share.
FMC has been the subject of a number of recent analyst reports. BMO Capital Markets set a $100.00 price objective on FMC and gave the company a “buy” rating in a report on Thursday, September 12th. Citigroup reiterated a “buy” rating and issued a $93.00 price objective (up previously from $91.00) on shares of FMC in a report on Thursday, June 13th. Credit Suisse Group upped their price objective on FMC from $97.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Nomura upped their price objective on FMC from $93.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Buckingham Research upped their price objective on FMC from $94.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. FMC has a consensus rating of “Buy” and an average target price of $97.93.
NYSE FMC traded up $4.13 on Friday, reaching $84.05. The company had a trading volume of 19,226 shares, compared to its average volume of 969,446. The stock’s 50 day moving average is $86.15 and its 200-day moving average is $81.89. The stock has a market cap of $10.31 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 1.32 and a beta of 1.46. The company has a quick ratio of 0.91, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. FMC has a 52 week low of $69.36 and a 52 week high of $92.13.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, September 27th. This represents a $1.60 annualized dividend and a dividend yield of 1.90%. FMC’s dividend payout ratio is currently 25.44%.
In other news, COO Mark Douglas sold 22,390 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $89.83, for a total transaction of $2,011,293.70. Following the completion of the transaction, the chief operating officer now directly owns 60,584 shares of the company’s stock, valued at $5,442,260.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Pfeiffer sold 9,218 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $90.88, for a total value of $837,731.84. Following the transaction, the insider now directly owns 17,706 shares of the company’s stock, valued at $1,609,121.28. The disclosure for this sale can be found here. Insiders have sold 228,074 shares of company stock valued at $20,314,853 over the last ninety days. 1.50% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of FMC. Bank of New York Mellon Corp raised its stake in FMC by 87.3% in the second quarter. Bank of New York Mellon Corp now owns 2,450,192 shares of the basic materials company’s stock valued at $203,243,000 after buying an additional 1,141,810 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of FMC by 165.8% during the second quarter. UBS Asset Management Americas Inc. now owns 1,216,932 shares of the basic materials company’s stock worth $100,945,000 after purchasing an additional 759,055 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in shares of FMC by 373.3% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 543,680 shares of the basic materials company’s stock worth $322,858,000 after purchasing an additional 428,806 shares during the period. Renaissance Technologies LLC bought a new position in shares of FMC during the second quarter worth approximately $34,499,000. Finally, Nuveen Asset Management LLC bought a new position in shares of FMC during the second quarter worth approximately $27,314,000. 89.09% of the stock is owned by hedge funds and other institutional investors.
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.
Featured Story: What is a Call Option?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for FMC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FMC and related companies with MarketBeat.com's FREE daily email newsletter.