FMC (NYSE:FMC) Posts Quarterly Earnings Results, Beats Expectations By $0.20 EPS

FMC (NYSE:FMC) issued its quarterly earnings results on Tuesday. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the business posted $0.44 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year.

FMC Price Performance

FMC traded up $5.99 during trading on Wednesday, reaching $66.17. 1,056,892 shares of the company were exchanged, compared to its average volume of 1,690,180. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 5.97, a P/E/G ratio of 1.59 and a beta of 0.85. FMC has a 12-month low of $49.49 and a 12-month high of $68.72. The company’s 50-day moving average is $63.18 and its two-hundred day moving average is $60.77.

Analyst Upgrades and Downgrades

FMC has been the topic of a number of recent research reports. Redburn Atlantic upgraded shares of FMC from a “hold” rating to a “strong-buy” rating in a report on Friday, July 19th. BMO Capital Markets lifted their price objective on FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Friday, August 2nd. KeyCorp decreased their price objective on shares of FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Citigroup began coverage on FMC in a report on Wednesday, October 23rd. They set a “neutral” rating and a $67.00 price target for the company. Finally, Wells Fargo & Company lowered their target price on FMC from $68.00 to $62.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $67.00.

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.