FMC (NYSE:FMC) Issues FY 2024 Earnings Guidance

FMC (NYSE:FMC) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 3.160-3.520 for the period, compared to the consensus EPS estimate of 3.280. The company issued revenue guidance of $4.3 billion-$4.4 billion, compared to the consensus revenue estimate of $4.4 billion. FMC also updated its FY24 guidance to $3.16-3.52 EPS.

Analyst Ratings Changes

A number of research firms have recently weighed in on FMC. Wells Fargo & Company cut their price target on shares of FMC from $68.00 to $62.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Citigroup assumed coverage on shares of FMC in a report on Wednesday, October 23rd. They set a “neutral” rating and a $67.00 price target on the stock. KeyCorp dropped their target price on shares of FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on shares of FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, BMO Capital Markets lifted their target price on shares of FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, FMC currently has a consensus rating of “Hold” and an average price target of $67.00.

FMC Price Performance

Shares of FMC stock traded up $6.44 during trading on Wednesday, hitting $66.62. 3,272,503 shares of the company’s stock traded hands, compared to its average volume of 1,700,741. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 1.07. The firm’s fifty day moving average price is $63.23 and its 200 day moving average price is $60.81. FMC has a twelve month low of $49.49 and a twelve month high of $68.72. The company has a market cap of $8.32 billion, a PE ratio of 6.02, a PEG ratio of 1.59 and a beta of 0.85.

FMC (NYSE:FMC) last issued its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.20. FMC had a net margin of 33.97% and a return on equity of 7.52%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business earned $0.44 EPS. The firm’s revenue was up 8.5% on a year-over-year basis. Analysts forecast that FMC will post 3.31 earnings per share for the current year.

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.