FMC (NYSE:FMC) Issues FY 2024 Earnings Guidance

FMC (NYSE:FMC) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 3.160-3.520 for the period, compared to the consensus earnings per share 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 Upgrades and Downgrades

Several analysts have issued reports on FMC shares. BMO Capital Markets upped their price objective on FMC from $60.00 to $65.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. KeyCorp reduced their price objective on FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company lowered their target price on FMC from $68.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Redburn Atlantic raised FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada upped their price objective on shares of FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $67.00.

FMC Price Performance

Shares of FMC stock traded down $1.62 during trading hours on Friday, hitting $63.37. The company had a trading volume of 474,926 shares, compared to its average volume of 1,694,262. FMC has a 12 month low of $49.49 and a 12 month high of $68.72. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.07 and a current ratio of 1.48. The firm’s fifty day moving average is $63.25 and its 200 day moving average is $60.84. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 5.45, a PEG ratio of 1.71 and a beta of 0.85.

FMC (NYSE:FMC) last released its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.20. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. FMC had a net margin of 34.93% and a return on equity of 7.68%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 EPS. On average, sell-side analysts predict that FMC will post 3.3 EPS for the current fiscal 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.