FMC Co. (NYSE:FMC) Expected to Announce Quarterly Sales of $1.27 Billion


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Wall Street brokerages forecast that FMC Co. (NYSE:FMC) will announce sales of $1.27 billion for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for FMC’s earnings. FMC reported sales of $1.20 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.8%. The company is scheduled to report its next quarterly earnings results on Wednesday, February 3rd.

On average, analysts expect that FMC will report full-year sales of $4.75 billion for the current financial year, with estimates ranging from $4.74 billion to $4.76 billion. For the next year, analysts anticipate that the firm will post sales of $5.04 billion, with estimates ranging from $5.00 billion to $5.07 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow FMC.

FMC (NYSE:FMC) last released its quarterly earnings results on Saturday, November 7th. The basic materials company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.11. FMC had a return on equity of 30.81% and a net margin of 10.64%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the firm earned $0.94 EPS. The company’s revenue was up 6.9% compared to the same quarter last year.

A number of brokerages have issued reports on FMC. BMO Capital Markets increased their price target on FMC from $120.00 to $124.00 in a research note on Wednesday, November 18th. UBS Group increased their price target on FMC from $127.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 25th. Credit Suisse Group increased their price target on FMC from $128.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 4th. Rowe increased their price target on FMC from $125.00 to $130.00 and gave the stock a “positive” rating in a research note on Monday, November 2nd. Finally, Zacks Investment Research lowered FMC from a “buy” rating to a “hold” rating and set a $113.00 price objective for the company. in a research report on Wednesday, October 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $121.53.

In other FMC news, insider Nicholas Pfeiffer sold 733 shares of the firm’s stock in a transaction dated Wednesday, December 2nd. The shares were sold at an average price of $118.50, for a total value of $86,860.50. Following the completion of the sale, the insider now owns 11,547 shares of the company’s stock, valued at $1,368,319.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eduardo E. Cordeiro sold 5,625 shares of the firm’s stock in a transaction dated Tuesday, December 8th. The stock was sold at an average price of $118.86, for a total transaction of $668,587.50. Following the completion of the sale, the director now directly owns 22,826 shares of the company’s stock, valued at approximately $2,713,098.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,091 shares of company stock valued at $842,309. 0.99% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisor Partners LLC acquired a new position in FMC during the third quarter valued at $211,000. Morgan Stanley raised its position in shares of FMC by 69.4% in the third quarter. Morgan Stanley now owns 328,893 shares of the basic materials company’s stock worth $34,835,000 after acquiring an additional 134,760 shares during the period. Nordea Investment Management AB raised its position in shares of FMC by 100.0% in the second quarter. Nordea Investment Management AB now owns 13,156 shares of the basic materials company’s stock worth $1,282,000 after acquiring an additional 6,578 shares during the period. Squarepoint Ops LLC raised its position in shares of FMC by 251.9% in the third quarter. Squarepoint Ops LLC now owns 16,058 shares of the basic materials company’s stock worth $1,701,000 after acquiring an additional 11,495 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of FMC in the third quarter worth about $75,000. 77.09% of the stock is owned by institutional investors and hedge funds.

FMC stock traded down $0.33 during trading on Wednesday, reaching $121.92. The company had a trading volume of 614,495 shares, compared to its average volume of 654,435. FMC has a 52 week low of $56.77 and a 52 week high of $123.66. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $15.82 billion, a price-to-earnings ratio of 31.92, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04. The firm’s 50-day simple moving average is $116.91 and its 200 day simple moving average is $109.46.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 21st. Investors of record on Thursday, December 31st will be given a $0.48 dividend. The ex-dividend date is Wednesday, December 30th. This represents a $1.92 annualized dividend and a yield of 1.57%. This is a positive change from FMC’s previous quarterly dividend of $0.44. FMC’s dividend payout ratio (DPR) is currently 31.53%.

About FMC

FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. The company develop, markets, and sells crop protection chemicals, which include insecticides, herbicides, and fungicides that are used in agriculture to enhance crop yield and quality by controlling a range of insects, weeds, and disease, as well as in non-agricultural markets for pest control.

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