FMC (NYSE:FMC) Price Target Cut to $8.00 by Analysts at Morgan Stanley

FMC (NYSE:FMC) had its price target dropped by investment analysts at Morgan Stanley from $12.00 to $8.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the basic materials company’s stock. Morgan Stanley‘s target price suggests a potential upside of 26.82% from the stock’s current price.

A number of other equities research analysts have also issued reports on FMC. Jefferies Financial Group started coverage on FMC in a research report on Monday. They issued a “hold” rating and a $6.00 target price on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $18.00 price target on shares of FMC in a research report on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FMC in a research note on Wednesday, August 26th. Royal Bank Of Canada lowered their price objective on shares of FMC from $9.00 to $7.00 and set a “sector perform” rating on the stock in a report on Monday. Finally, Citigroup cut their price objective on shares of FMC from $12.00 to $6.00 and set a “neutral” rating on the stock in a research report on Monday, October 19th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $10.89.

FMC Stock Up 1.7%

NYSE FMC traded up $0.11 on Monday, reaching $6.31. The company had a trading volume of 3,986,815 shares, compared to its average volume of 4,357,041. The company’s fifty day moving average is $9.13 and its 200-day moving average is $12.46. The firm has a market capitalization of $789.95 million, a price-to-earnings ratio of -0.19 and a beta of 0.50. The company has a debt-to-equity ratio of 416.31, a quick ratio of 1.18 and a current ratio of 1.66. FMC has a 1-year low of $4.37 and a 1-year high of $18.29.

FMC (NYSE:FMC) last issued its quarterly earnings results on Thursday, October 29th. The basic materials company reported ($4.41) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($4.49). The firm had revenue of $105.90 million during the quarter, compared to the consensus estimate of $487.63 million. FMC had a negative net margin of 151.18% and a negative return on equity of 30.77%. The business’s revenue for the quarter was down 80.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 earnings per share. On average, research analysts forecast that FMC will post -3.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FMC. Bank of New York Mellon Corp acquired a new stake in shares of FMC in the 2nd quarter valued at approximately $8,498,000. AXQ Capital LP raised its position in FMC by 109.9% during the second quarter. AXQ Capital LP now owns 366,661 shares of the basic materials company’s stock worth $4,217,000 after acquiring an additional 191,945 shares in the last quarter. Wellington Management Group LLP lifted its stake in FMC by 142.4% in the second quarter. Wellington Management Group LLP now owns 235,089 shares of the basic materials company’s stock valued at $2,704,000 after acquiring an additional 138,098 shares during the last quarter. Entropy Technologies LP acquired a new stake in FMC in the first quarter valued at $1,401,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in FMC in the second quarter valued at $1,175,000. Institutional investors and hedge funds own 91.86% of the company’s stock.

FMC Company Profile

FMC Corporation (NYSE: FMC) is an agricultural sciences company that develops and markets crop protection products and technologies. Its portfolio is designed to help farmers manage weeds, insects and diseases that can affect crop yields and quality.

The company’s products include herbicides, insecticides, fungicides, biological crop protection products and seed treatment solutions. FMC also develops crop health technologies and digital tools intended to support more precise and efficient agricultural applications.

FMC serves farmers, agricultural retailers and distributors in major farming regions around the world, with products used across a broad range of crops.