FMC (NYSE:FMC) Issues Q2 2024 Earnings Guidance

FMC (NYSE:FMC) updated its second quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 0.430-0.720 for the period, compared to the consensus EPS estimate of 0.680. The company issued revenue guidance of $1.0 billion-$1.2 billion, compared to the consensus revenue estimate of $1.1 billion. FMC also updated its FY 2024 guidance to 3.230-4.410 EPS.

FMC Price Performance

Shares of FMC stock traded down $1.92 during midday trading on Wednesday, reaching $64.83. 2,705,738 shares of the company were exchanged, compared to its average volume of 1,990,886. The company’s 50 day moving average price is $60.99 and its two-hundred day moving average price is $57.84. The company has a market cap of $8.09 billion, a P/E ratio of 6.16, a PEG ratio of 1.99 and a beta of 0.88. FMC has a 12 month low of $49.49 and a 12 month high of $112.10. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.52.

FMC (NYSE:FMC) last announced its earnings results on Monday, May 6th. The basic materials company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. The firm had revenue of $918.00 million for the quarter, compared to analysts’ expectations of $1.01 billion. FMC had a return on equity of 12.98% and a net margin of 29.45%. The firm’s quarterly revenue was down 31.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.77 earnings per share. On average, sell-side analysts expect that FMC will post 3.88 earnings per share for the current year.

FMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Friday, June 28th. FMC’s payout ratio is 22.03%.

Analysts Set New Price Targets

Several brokerages recently commented on FMC. Mizuho upped their price target on shares of FMC from $55.00 to $57.00 and gave the company a neutral rating in a research report on Tuesday. Wolfe Research began coverage on FMC in a research note on Friday, March 1st. They issued a peer perform rating for the company. Loop Capital raised their price objective on FMC from $55.00 to $65.00 and gave the stock a hold rating in a research report on Tuesday, March 19th. Bank of America downgraded FMC from a neutral rating to an underperform rating and dropped their target price for the company from $60.00 to $57.00 in a report on Tuesday, January 16th. Finally, StockNews.com upgraded shares of FMC from a sell rating to a hold rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, FMC presently has a consensus rating of Hold and a consensus target price of $71.69.

Insider Transactions at FMC

In other news, CFO Andrew D. Sandifer purchased 2,150 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $59.22 per share, with a total value of $127,323.00. Following the completion of the transaction, the chief financial officer now directly owns 50,088 shares in the company, valued at approximately $2,966,211.36. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.81% of the stock is currently owned by corporate insiders.

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.