Citigroup Issues Positive Forecast for FMC (NYSE:FMC) Stock Price

FMC (NYSE:FMC) had its price target hoisted by research analysts at Citigroup from $6.00 to $7.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the basic materials company’s stock. Citigroup‘s target price points to a potential upside of 12.81% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. Wall Street Zen upgraded FMC from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $18.00 target price on shares of FMC in a research report on Friday, July 31st. Morgan Stanley dropped their price target on shares of FMC from $12.00 to $8.00 and set an “equal weight” rating for the company in a research report on Monday. Royal Bank Of Canada reduced their price target on shares of FMC from $9.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Monday. Finally, UBS Group decreased their price objective on shares of FMC from $10.00 to $6.50 and set a “neutral” rating on the stock in a report on Tuesday. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $10.71.

FMC Price Performance

Shares of NYSE:FMC traded down $0.29 during midday trading on Tuesday, hitting $6.21. The company’s stock had a trading volume of 3,302,361 shares, compared to its average volume of 4,390,387. The business’s 50 day simple moving average is $9.03 and its 200 day simple moving average is $12.42. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.48 and a current ratio of 1.99. The company has a market cap of $777.03 million, a P/E ratio of -0.19 and a beta of 0.45. FMC has a 12-month low of $4.37 and a 12-month high of $18.29.

FMC (NYSE:FMC) last released its quarterly earnings data on Thursday, October 29th. The basic materials company reported ($4.41) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($4.49). The business had revenue of $105.90 million during the quarter, compared to analyst estimates of $487.63 million. FMC had a negative net margin of 84.83% and a positive return on equity of 11.35%. The firm’s revenue was down 80.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 EPS. On average, analysts forecast that FMC will post -3.58 EPS for the current year.

Institutional Trading of FMC

Several hedge funds have recently added to or reduced their stakes in FMC. Greenleaf Trust lifted its position in shares of FMC by 75.1% during the 3rd quarter. Greenleaf Trust now owns 48,418 shares of the basic materials company’s stock worth $432,000 after buying an additional 20,765 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in FMC by 73.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 21,995 shares of the basic materials company’s stock worth $196,000 after buying an additional 9,345 shares during the last quarter. Cidel Asset Management Inc. purchased a new position in FMC during the 3rd quarter worth approximately $90,000. Pinnacle Wealth Planning Services Inc. increased its position in FMC by 1,292.2% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 3,411 shares of the basic materials company’s stock worth $30,000 after buying an additional 3,166 shares during the period. Finally, Evergreen Capital Management LLC acquired a new position in FMC during the third quarter worth approximately $205,000. Institutional investors and hedge funds own 91.86% of the company’s stock.

Key Headlines Impacting FMC

Here are the key news stories impacting FMC this week:

• Negative Sentiment: UBS cut its price target from $10 to $6.50 and maintained a “neutral” rating. Although the revised target implies modest upside, the reduction reflects lower expectations for FMC’s recovery. UBS FMC rating
• Negative Sentiment: Morgan Stanley lowered its target from $12 to $8 and assigned an “equal weight” rating, citing a more limited near-term upside outlook. Morgan Stanley FMC rating
• Negative Sentiment: RBC reduced its target from $9 to $7 while maintaining a “sector perform” rating. The target still indicates potential appreciation, but the cut adds to evidence of weakening analyst conviction. RBC FMC rating

FMC Company Profile

FMC Corporation (NYSE: FMC) is an agricultural sciences company that develops and markets crop protection products and technologies. Its portfolio is designed to help farmers manage weeds, insects and diseases that can affect crop yields and quality.

The company’s products include herbicides, insecticides, fungicides, biological crop protection products and seed treatment solutions. FMC also develops crop health technologies and digital tools intended to support more precise and efficient agricultural applications.

FMC serves farmers, agricultural retailers and distributors in major farming regions around the world, with products used across a broad range of crops.