Wall Street brokerages expect FMC Corp (NYSE:FMC) to announce sales of $1.19 billion for the current fiscal quarter, according to Zacks. Three analysts have made estimates for FMC’s earnings. The highest sales estimate is $1.21 billion and the lowest is $1.18 billion. FMC posted sales of $1.22 billion in the same quarter last year, which suggests a negative year over year growth rate of 2.5%. The business is expected to announce its next quarterly earnings report on Monday, February 10th.
According to Zacks, analysts expect that FMC will report full year sales of $4.60 billion for the current fiscal year, with estimates ranging from $4.58 billion to $4.63 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $4.85 billion, with estimates ranging from $4.78 billion to $4.91 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for FMC.
FMC (NYSE:FMC) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.14. The company had revenue of $1,000.00 million during the quarter, compared to analysts’ expectations of $978.47 million. FMC had a net margin of 11.08% and a return on equity of 27.94%. FMC’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 earnings per share.
A number of research analysts recently weighed in on the stock. BMO Capital Markets set a $100.00 price objective on shares of FMC and gave the company a “buy” rating in a report on Thursday, September 12th. SunTrust Banks boosted their price target on shares of FMC from $102.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, December 9th. BNP Paribas assumed coverage on shares of FMC in a report on Wednesday, September 18th. They set a “buy” rating and a $110.00 price target for the company. Zacks Investment Research cut shares of FMC from a “hold” rating to a “sell” rating and set a $87.00 price target for the company. in a report on Wednesday, October 16th. Finally, Wells Fargo & Co assumed coverage on shares of FMC in a report on Tuesday, October 15th. They set an “outperform” rating and a $100.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. FMC presently has an average rating of “Buy” and a consensus price target of $99.41.
In related news, insider Nicholas Pfeiffer sold 3,379 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $98.93, for a total value of $334,284.47. Following the completion of the sale, the insider now owns 10,925 shares in the company, valued at approximately $1,080,810.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Pierre R. Brondeau sold 24,738 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $96.88, for a total transaction of $2,396,617.44. Insiders have sold a total of 37,335 shares of company stock valued at $3,568,634 in the last 90 days. Insiders own 1.50% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in FMC. Virginia Retirement Systems ET AL purchased a new stake in FMC in the 2nd quarter valued at $290,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of FMC during the 2nd quarter worth $748,000. Janney Montgomery Scott LLC grew its stake in shares of FMC by 24.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 19,200 shares of the basic materials company’s stock worth $1,593,000 after purchasing an additional 3,726 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of FMC by 3.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,459 shares of the basic materials company’s stock worth $3,439,000 after purchasing an additional 1,330 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of FMC by 75.7% during the 2nd quarter. First Trust Advisors LP now owns 226,342 shares of the basic materials company’s stock worth $18,775,000 after purchasing an additional 97,486 shares during the period. Hedge funds and other institutional investors own 88.83% of the company’s stock.
Shares of FMC stock traded down $0.71 during trading on Friday, reaching $100.21. The company’s stock had a trading volume of 15,268 shares, compared to its average volume of 981,187. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.62 and a quick ratio of 1.15. The company has a market capitalization of $12.90 billion, a price-to-earnings ratio of 15.92, a P/E/G ratio of 1.64 and a beta of 1.50. The stock’s 50-day moving average price is $96.88 and its 200 day moving average price is $87.27. FMC has a 1-year low of $69.36 and a 1-year high of $101.23.
About FMC
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.
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