FMC Corp (FMC) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of FMC Corp (NYSE:FMC) have received a consensus rating of “Buy” from the sixteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $102.75.
A number of research analysts have recently weighed in on the company. Credit Suisse Group set a $107.00 target price on FMC and gave the company a “buy” rating in a report on Tuesday, June 12th. Zacks Investment Research lowered FMC from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. Finally, Nomura raised their target price on FMC from $100.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, July 11th.
In other FMC news, Director Dirk A. Kempthorne purchased 1,173 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The shares were acquired at an average cost of $86.12 per share, for a total transaction of $101,018.76. Following the completion of the acquisition, the director now owns 35,783 shares of the company’s stock, valued at approximately $3,081,631.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Pfeiffer sold 375 shares of FMC stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $89.15, for a total value of $33,431.25. Following the sale, the insider now owns 8,604 shares in the company, valued at $767,046.60. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
Shares of FMC stock traded down $1.27 during trading hours on Thursday, reaching $87.70. The company had a trading volume of 875,505 shares, compared to its average volume of 1,291,612. FMC has a 12 month low of $72.73 and a 12 month high of $98.70. The company has a quick ratio of 1.24, a current ratio of 1.63 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $12.07 billion, a PE ratio of 32.36, a P/E/G ratio of 0.80 and a beta of 1.61.
FMC (NYSE:FMC) last posted its earnings results on Wednesday, August 1st. The basic materials company reported $1.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.06. FMC had a return on equity of 27.12% and a net margin of 23.96%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the company earned $0.48 earnings per share. The company’s revenue for the quarter was up 92.2% on a year-over-year basis. equities research analysts anticipate that FMC will post 6.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 18th. Investors of record on Friday, September 28th will be issued a dividend of $0.165 per share. The ex-dividend date is Thursday, September 27th. This represents a $0.66 dividend on an annualized basis and a yield of 0.75%. FMC’s dividend payout ratio (DPR) is currently 24.35%.
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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