FMC (NYSE:FMC – Get Free Report) issued its quarterly earnings results on Tuesday. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.20, Briefing.com reports. FMC had a return on equity of 7.52% and a net margin of 33.97%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the firm earned $0.44 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis.
FMC Trading Up 10.7 %
FMC stock opened at $66.62 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.07 and a current ratio of 1.48. The business’s 50-day simple moving average is $63.23 and its 200-day simple moving average is $60.81. The firm has a market capitalization of $8.32 billion, a PE ratio of 6.02, a PEG ratio of 1.59 and a beta of 0.85. FMC has a 52 week low of $49.49 and a 52 week high of $68.72.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on FMC. Redburn Atlantic upgraded FMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 19th. Barclays lifted their price objective on FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. BMO Capital Markets boosted their price target on FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, Citigroup started coverage on FMC in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $67.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $67.00.
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.
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