FMC (NYSE:FMC) declared that its Board of Directors has approved a share buyback program, which authorizes the company to repurchase $1.00 billion in outstanding shares on Monday, December 3rd. This repurchase authorization authorizes the basic materials company to buy up to 9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

A number of research analysts recently commented on the company. Loop Capital set a $118.00 price target on FMC and gave the stock a “buy” rating in a research report on Wednesday. Credit Suisse Group raised their price target on FMC from $105.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday. Buckingham Research assumed coverage on FMC in a research report on Wednesday, November 14th. They issued a “buy” rating and a $106.00 price target on the stock. Citigroup set a $96.00 price target on FMC and gave the stock a “buy” rating in a research report on Sunday, November 11th. Finally, ValuEngine upgraded FMC from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $102.08.

NYSE:FMC opened at $80.08 on Friday. The stock has a market capitalization of $11.21 billion, a P/E ratio of 29.55, a price-to-earnings-growth ratio of 0.89 and a beta of 1.63. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 0.84. FMC has a twelve month low of $72.73 and a twelve month high of $98.70.

FMC (NYSE:FMC) last released its quarterly earnings data on Monday, November 5th. The basic materials company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.06. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. FMC had a return on equity of 26.26% and a net margin of 22.28%. FMC’s revenue was up 60.4% compared to the same quarter last year. During the same period last year, the firm posted $0.70 earnings per share. Equities analysts predict that FMC will post 6 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 17th. Investors of record on Friday, December 28th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, December 27th. This is a positive change from FMC’s previous quarterly dividend of $0.17. This represents a $1.60 annualized dividend and a yield of 2.00%. FMC’s dividend payout ratio (DPR) is 24.35%.

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FMC Company Profile

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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