FMC Co. (NYSE:FMC – Get Rating) – Investment analysts at KeyCorp decreased their Q3 2022 earnings per share estimates for shares of FMC in a research note issued to investors on Monday, October 3rd. KeyCorp analyst A. Yefremov now anticipates that the basic materials company will earn $1.09 per share for the quarter, down from their previous estimate of $1.12. The consensus estimate for FMC's current full-year earnings is $7.46 per share. KeyCorp also issued estimates for FMC's FY2022 earnings at $7.51 EPS and FY2023 earnings at $8.61 EPS.
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Several other brokerages also recently weighed in on FMC. Redburn Partners downgraded FMC from a "buy" rating to a "neutral" rating in a research note on Monday, June 13th. Mizuho lowered their target price on FMC from $149.00 to $144.00 and set a "buy" rating for the company in a research note on Thursday, August 4th. StockNews.com cut shares of FMC from a "buy" rating to a "hold" rating in a research report on Friday, September 30th. Credit Suisse Group reduced their price target on shares of FMC from $109.00 to $105.00 and set an "underperform" rating on the stock in a research report on Wednesday, August 3rd. Finally, Bank of America raised shares of FMC from an "underperform" rating to a "buy" rating and set a $127.00 price target on the stock in a research report on Tuesday, June 21st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, FMC currently has a consensus rating of "Hold" and an average price target of $130.50.
FMC Stock Down 0.4 %
Shares of FMC stock opened at $112.04 on Wednesday. The business has a 50-day moving average of $109.33 and a 200-day moving average of $116.04. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.38 and a quick ratio of 0.99. The company has a market capitalization of $14.11 billion, a PE ratio of 20.60, a P/E/G ratio of 1.46 and a beta of 0.80. FMC has a 1-year low of $87.42 and a 1-year high of $140.99.
FMC (NYSE:FMC – Get Rating) last announced its earnings results on Tuesday, August 2nd. The basic materials company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.03. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.35 billion. FMC had a return on equity of 30.64% and a net margin of 12.80%. During the same period last year, the firm earned $1.81 earnings per share.
FMC Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Friday, September 30th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.12 dividend on an annualized basis and a yield of 1.89%. FMC's dividend payout ratio is currently 38.97%.
Hedge Funds Weigh In On FMC
A number of large investors have recently bought and sold shares of FMC. Canada Pension Plan Investment Board lifted its holdings in FMC by 699.6% in the fourth quarter. Canada Pension Plan Investment Board now owns 19,773 shares of the basic materials company's stock worth $2,173,000 after acquiring an additional 17,300 shares during the last quarter. King Luther Capital Management Corp increased its stake in shares of FMC by 1.0% in the fourth quarter. King Luther Capital Management Corp now owns 3,037,810 shares of the basic materials company's stock valued at $333,825,000 after purchasing an additional 28,998 shares during the period. Kennedy Capital Management Inc. increased its stake in shares of FMC by 2.5% in the fourth quarter. Kennedy Capital Management Inc. now owns 42,762 shares of the basic materials company's stock valued at $4,699,000 after purchasing an additional 1,062 shares during the period. S&T Bank PA increased its stake in shares of FMC by 0.8% in the fourth quarter. S&T Bank PA now owns 73,099 shares of the basic materials company's stock valued at $8,033,000 after purchasing an additional 606 shares during the period. Finally, Vectors Research Management LLC increased its stake in shares of FMC by 4.4% in the fourth quarter. Vectors Research Management LLC now owns 11,624 shares of the basic materials company's stock valued at $1,277,000 after purchasing an additional 489 shares during the period. Institutional investors own 87.42% of the company's stock.
About FMC
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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 include 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.
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