FMC (FMC) Earns Equal Weight Rating from Analysts at Stephens
Stephens assumed coverage on shares of FMC (NYSE:FMC) in a research report report published on Monday morning, Marketbeat reports. The brokerage issued an equal weight rating and a $91.00 price target on the basic materials company’s stock.
A number of other research firms also recently commented on FMC. BMO Capital Markets boosted their price target on FMC from $80.00 to $90.00 and gave the company a market perform rating in a research note on Wednesday, November 8th. They noted that the move was a valuation call. Credit Suisse Group reaffirmed an outperform rating and issued a $102.00 price target (up previously from $93.00) on shares of FMC in a research note on Wednesday, November 8th. Bank of America boosted their price target on FMC from $103.00 to $105.00 and gave the company a buy rating in a research note on Wednesday, November 8th. Goldman Sachs Group assumed coverage on FMC in a research note on Monday. They issued a neutral rating and a $98.00 price target for the company. Finally, KeyCorp boosted their price target on FMC from $98.00 to $105.00 and gave the company a buy rating in a research note on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $92.61.
Shares of FMC (NYSE:FMC) opened at $87.99 on Monday. FMC has a twelve month low of $56.35 and a twelve month high of $95.25. The company has a current ratio of 2.19, a quick ratio of 1.81 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $12,063.42, a price-to-earnings ratio of 36.08, a PEG ratio of 3.01 and a beta of 1.61.
FMC (NYSE:FMC) last posted its earnings results on Monday, November 6th. The basic materials company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.07. The company had revenue of $646.20 million during the quarter, compared to the consensus estimate of $686.21 million. FMC had a return on equity of 16.77% and a net margin of 0.78%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 earnings per share. research analysts forecast that FMC will post 2.65 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. Advisor Partners LLC bought a new position in FMC in the third quarter valued at about $216,000. Achmea Investment Management B.V. bought a new position in FMC in the third quarter valued at about $246,000. Nordea Investment Management AB grew its position in FMC by 99.7% in the third quarter. Nordea Investment Management AB now owns 8,042 shares of the basic materials company’s stock valued at $718,000 after acquiring an additional 4,015 shares during the last quarter. Virginia Retirement Systems ET AL bought a new position in FMC in the third quarter valued at about $831,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in FMC by 28.7% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,815 shares of the basic materials company’s stock valued at $1,145,000 after acquiring an additional 2,860 shares during the last quarter. Hedge funds and other institutional investors own 89.34% of the company’s stock.
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FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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