Jefferies Group Comments on FMC Corporation’s Q3 2017 Earnings (FMC)
FMC Corporation (NYSE:FMC) – Research analysts at Jefferies Group boosted their Q3 2017 earnings per share (EPS) estimates for shares of FMC Corporation in a note issued to investors on Wednesday. Jefferies Group analyst L. Alexander now anticipates that the basic materials company will post earnings of $0.64 per share for the quarter, up from their prior forecast of $0.60. Jefferies Group currently has a “Buy” rating and a $108.00 price objective on the stock. Jefferies Group also issued estimates for FMC Corporation’s FY2018 earnings at $5.50 EPS and FY2019 earnings at $6.15 EPS.
A number of other research firms have also commented on FMC. Piper Jaffray Companies set a $85.00 price objective on shares of FMC Corporation and gave the company a “hold” rating in a research note on Friday, October 6th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $93.00 price objective on shares of FMC Corporation in a research note on Wednesday. KeyCorp reaffirmed a “buy” rating and issued a $98.00 price objective on shares of FMC Corporation in a research note on Wednesday, October 4th. Robert W. Baird reaffirmed a “hold” rating and issued a $86.00 price objective on shares of FMC Corporation in a research note on Tuesday, September 12th. Finally, Zacks Investment Research upgraded shares of FMC Corporation from a “hold” rating to a “strong-buy” rating and set a $103.00 target price on the stock in a research report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. FMC Corporation has an average rating of “Buy” and an average price target of $87.89.
TRADEMARK VIOLATION WARNING: “Jefferies Group Comments on FMC Corporation’s Q3 2017 Earnings (FMC)” was reported by Watch List News and is the property of of Watch List News. If you are accessing this story on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this story can be read at https://www.watchlistnews.com/jefferies-group-comments-on-fmc-corporations-q3-2017-earnings-fmc/1627374.html. FMC Corporation (NYSE:FMC) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. FMC Corporation had a net margin of 1.58% and a return on equity of 16.51%. The business had revenue of $656.80 million for the quarter, compared to analyst estimates of $614.01 million. During the same period last year, the business posted $0.46 earnings per share. The firm’s quarterly revenue was up 6.7% on a year-over-year basis.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. RiverPoint Capital Management LLC raised its holdings in FMC Corporation by 4.4% during the first quarter. RiverPoint Capital Management LLC now owns 4,825 shares of the basic materials company’s stock worth $336,000 after buying an additional 205 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in FMC Corporation by 4.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,048 shares of the basic materials company’s stock worth $351,000 after buying an additional 214 shares during the last quarter. KCG Holdings Inc. raised its holdings in FMC Corporation by 3.9% during the first quarter. KCG Holdings Inc. now owns 22,879 shares of the basic materials company’s stock worth $1,592,000 after buying an additional 860 shares during the last quarter. Xact Kapitalforvaltning AB raised its holdings in FMC Corporation by 6.3% during the second quarter. Xact Kapitalforvaltning AB now owns 22,519 shares of the basic materials company’s stock worth $1,645,000 after buying an additional 1,336 shares during the last quarter. Finally, Hanseatic Management Services Inc. raised its holdings in FMC Corporation by 13.3% during the second quarter. Hanseatic Management Services Inc. now owns 14,350 shares of the basic materials company’s stock worth $1,048,000 after buying an additional 1,688 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.
In other FMC Corporation news, VP Andrea E. Utecht sold 14,174 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $84.00, for a total transaction of $1,190,616.00. Following the transaction, the vice president now owns 131,639 shares in the company, valued at $11,057,676. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.165 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.66 annualized dividend and a yield of 0.71%. FMC Corporation’s payout ratio is 188.58%.
About FMC Corporation
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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