FMC (NYSE:FMC) Issues FY24 Earnings Guidance

FMC (NYSE:FMC) updated its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $3.23-4.41 for the period, compared to the consensus EPS estimate of $3.75. The company issued revenue guidance of $4.50-4.70 billion, compared to the consensus revenue estimate of $4.53 billion. FMC also updated its FY 2024 guidance to 3.230-4.410 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank of Canada lowered their target price on FMC from $61.00 to $59.00 and set an outperform rating for the company in a report on Thursday, February 8th. StockNews.com cut shares of FMC from a hold rating to a sell rating in a research report on Thursday, April 18th. KeyCorp lifted their target price on shares of FMC from $76.00 to $79.00 and gave the stock an overweight rating in a research note on Tuesday, April 9th. Loop Capital upped their price objective on shares of FMC from $55.00 to $65.00 and gave the stock a hold rating in a report on Tuesday, March 19th. Finally, Bank of America lowered shares of FMC from a neutral rating to an underperform rating and reduced their target price for the stock from $60.00 to $57.00 in a research note on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, FMC currently has a consensus rating of Hold and an average target price of $71.88.

FMC Trading Up 9.5 %

FMC stock traded up $5.80 during trading on Tuesday, reaching $66.78. The company had a trading volume of 6,580,673 shares, compared to its average volume of 1,982,814. The stock’s 50 day moving average price is $60.43 and its two-hundred day moving average price is $57.79. FMC has a 12-month low of $49.49 and a 12-month high of $114.66. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.52. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of 6.23, a PEG ratio of 1.99 and a beta of 0.88.

FMC (NYSE:FMC) last released its quarterly earnings data on Monday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. FMC had a net margin of 29.45% and a return on equity of 12.98%. The business had revenue of $918.00 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company earned $1.77 EPS. The company’s revenue for the quarter was down 31.7% compared to the same quarter last year. As a group, equities analysts expect that FMC will post 3.88 earnings per share for the current fiscal year.

FMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Friday, June 28th. FMC’s dividend payout ratio (DPR) is presently 22.03%.

Insider Transactions at FMC

In other news, CFO Andrew D. Sandifer acquired 2,150 shares of the stock in a transaction dated Monday, March 4th. The shares were acquired at an average cost of $59.22 per share, for a total transaction of $127,323.00. Following the completion of the transaction, the chief financial officer now owns 50,088 shares in the company, valued at approximately $2,966,211.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.81% of the stock is currently owned by corporate insiders.

About FMC

FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. It develops, markets, and sells crop protection chemicals that includes insecticides, herbicides, and fungicides; and biologicals, crop nutrition, and seed treatment products, which 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.