Mizuho Issues Positive Forecast for FMC (NYSE:FMC) Stock Price

FMC (NYSE:FMC) had its price objective raised by Mizuho from $64.00 to $70.00 in a research note published on Friday morning, Benzinga reports. The firm currently has a neutral rating on the basic materials company’s stock.

Other research analysts have also issued reports about the stock. Redburn Atlantic upgraded shares of FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. KeyCorp decreased their price target 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. Royal Bank of Canada raised their price objective on shares of FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. raised their price objective on shares of FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Finally, Citigroup started coverage on shares of FMC in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $67.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $68.00.

FMC Trading Down 2.8 %

NYSE FMC traded down $1.84 during trading on Friday, hitting $63.15. The company had a trading volume of 1,088,860 shares, compared to its average volume of 1,697,158. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.65. FMC has a one year low of $49.49 and a one year high of $68.72. The company has a market cap of $7.88 billion, a price-to-earnings ratio of 5.43, a price-to-earnings-growth ratio of 1.71 and a beta of 0.85. The company’s fifty day moving average is $63.21 and its 200-day moving average is $60.88.

FMC (NYSE:FMC) last issued its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.20. The company 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%. FMC’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $0.44 EPS. On average, sell-side analysts predict that FMC will post 3.3 earnings per share for the current year.

Hedge Funds Weigh In On FMC

A number of institutional investors and hedge funds have recently made changes to their positions in FMC. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of FMC by 13.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,422 shares of the basic materials company’s stock worth $855,000 after buying an additional 1,583 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of FMC by 32.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,467 shares of the basic materials company’s stock worth $539,000 after buying an additional 2,084 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of FMC by 15.9% in the first quarter. Commonwealth Equity Services LLC now owns 26,119 shares of the basic materials company’s stock worth $1,664,000 after buying an additional 3,575 shares during the last quarter. Norden Group LLC purchased a new position in shares of FMC in the first quarter worth approximately $313,000. Finally, Diversify Advisory Services LLC purchased a new position in FMC during the first quarter valued at approximately $493,000. Hedge funds and other institutional investors own 91.86% of the company’s stock.

About FMC

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.