FMC (NYSE:FMC) Updates FY24 Earnings Guidance

FMC (NYSE:FMC) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $3.16-3.52 for the period, compared to the consensus EPS estimate of $3.26. The company issued revenue guidance of $4.33-4.44 billion, compared to the consensus revenue estimate of $4.36 billion. FMC also updated its FY 2024 guidance to 3.160-3.520 EPS.

FMC Stock Down 2.4 %

FMC stock traded down $1.63 on Thursday, hitting $64.99. 1,552,411 shares of the company’s stock were exchanged, compared to its average volume of 1,700,039. The firm has a 50 day moving average price of $63.25 and a two-hundred day moving average price of $60.84. FMC has a 12-month low of $49.49 and a 12-month high of $68.72. The stock has a market cap of $8.11 billion, a P/E ratio of 5.87, a price-to-earnings-growth ratio of 1.59 and a beta of 0.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.07 and a current ratio of 1.48.

FMC (NYSE:FMC) last posted its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.20. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. FMC had a net margin of 33.97% and a return on equity of 7.52%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 earnings per share. As a group, equities research analysts expect that FMC will post 3.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FMC shares. BMO Capital Markets raised their target price on FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Friday, August 2nd. Barclays upped their target price on FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. increased their price target on shares of FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. 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 note on Friday, August 2nd. Finally, Citigroup assumed coverage on shares of FMC in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $67.00 price objective on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock 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.