FMC (NYSE:FMC) Releases Q2 2024 Earnings Guidance

FMC (NYSE:FMC) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.430-0.720 for the period, compared to the consensus estimate of 0.680. The company issued revenue guidance of $1.0 billion-$1.2 billion, compared to the consensus revenue estimate of $1.1 billion. FMC also updated its FY 2024 guidance to 3.230-4.410 EPS.

FMC Stock Performance

Shares of NYSE:FMC 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 firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of 6.23, a price-to-earnings-growth ratio of 1.99 and a beta of 0.88. The stock’s fifty day moving average price is $60.43 and its 200 day moving average price is $57.79. FMC has a fifty-two week low of $49.49 and a fifty-two week high of $114.66. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.01.

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

FMC Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on FMC. StockNews.com downgraded shares of FMC from a hold rating to a sell rating in a report on Thursday, April 18th. Mizuho increased their price target on shares of FMC from $55.00 to $57.00 and gave the stock a neutral rating in a research report on Tuesday. Loop Capital increased their target price on FMC from $55.00 to $65.00 and gave the stock a hold rating in a report on Tuesday, March 19th. Bank of America downgraded shares of FMC from a neutral rating to an underperform rating and cut their target price for the company from $60.00 to $57.00 in a research report on Tuesday, January 16th. Finally, UBS Group upgraded shares of FMC from a neutral rating to a buy rating and upped their price objective for the company from $61.00 to $84.00 in a research report on Wednesday, March 20th. Two 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 company’s stock. Based on data from MarketBeat, FMC currently has a consensus rating of Hold and a consensus price target of $71.88.

Insider Activity at FMC

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

FMC Company Profile

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.