Research Analysts Offer Predictions for FMC Corporation’s FY2017 Earnings (FMC)
FMC Corporation (NYSE:FMC) – Equities researchers at KeyCorp boosted their FY2017 earnings per share (EPS) estimates for FMC Corporation in a research note issued on Tuesday. KeyCorp analyst M. Sison now anticipates that the basic materials company will post earnings of $2.65 per share for the year, up from their prior estimate of $2.40. KeyCorp has a “Buy” rating and a $105.00 price objective on the stock. KeyCorp also issued estimates for FMC Corporation’s FY2018 earnings at $5.40 EPS.
FMC Corporation (NYSE:FMC) last posted its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. FMC Corporation had a return on equity of 16.77% and a net margin of 0.78%. The business had revenue of $646.20 million for the quarter, compared to the consensus estimate of $686.21 million. During the same period in the prior year, the business earned $0.67 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis.
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A number of other research analysts also recently weighed in on FMC. Zacks Investment Research downgraded FMC Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Seaport Global Securities lowered FMC Corporation from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $82.00 to $80.00 in a report on Tuesday, July 18th. BidaskClub raised FMC Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Credit Suisse Group set a $93.00 price objective on FMC Corporation and gave the stock a “buy” rating in a report on Thursday, August 3rd. They noted that the move was a valuation call. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $85.00 price objective on shares of FMC Corporation in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $90.59.
FMC Corporation (NYSE FMC) opened at $93.22 on Thursday. FMC Corporation has a 52 week low of $52.24 and a 52 week high of $95.08. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.91 and a current ratio of 2.19. The firm has a market capitalization of $12,373.57, a P/E ratio of 37.01, a P/E/G ratio of 3.08 and a beta of 1.62.
Several hedge funds have recently added to or reduced their stakes in FMC. Advisor Partners LLC purchased a new position in FMC Corporation in the third quarter valued at approximately $216,000. Achmea Investment Management B.V. purchased a new position in FMC Corporation in the third quarter valued at approximately $246,000. Nordea Investment Management AB lifted its stake in FMC Corporation by 99.7% in the third quarter. Nordea Investment Management AB now owns 8,042 shares of the basic materials company’s stock valued at $718,000 after purchasing an additional 4,015 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new position in FMC Corporation in the third quarter valued at approximately $831,000. Finally, Hanseatic Management Services Inc. lifted its stake in FMC Corporation by 13.3% in the second quarter. Hanseatic Management Services Inc. now owns 14,350 shares of the basic materials company’s stock valued at $1,048,000 after purchasing an additional 1,688 shares during the last quarter. 90.77% of the stock is owned by institutional investors.
In other news, VP Andrea E. Utecht sold 14,174 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $84.00, for a total value of $1,190,616.00. Following the completion of the transaction, the vice president now directly owns 131,639 shares of the company’s stock, valued at $11,057,676. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.
FMC Corporation Company Profile
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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