Q4 2017 EPS Estimates for FMC Corporation Raised by SunTrust Banks (NYSE:FMC)
FMC Corporation (NYSE:FMC) – Investment analysts at SunTrust Banks increased their Q4 2017 EPS estimates for shares of FMC Corporation in a research report issued to clients and investors on Wednesday. SunTrust Banks analyst J. Sheehan now anticipates that the basic materials company will post earnings per share of $0.91 for the quarter, up from their previous estimate of $0.84. SunTrust Banks also issued estimates for FMC Corporation’s FY2018 earnings at $5.33 EPS, FY2019 earnings at $5.85 EPS and FY2020 earnings at $6.10 EPS.
FMC Corporation (NYSE:FMC) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.01. FMC Corporation had a net margin of 1.58% and a return on equity of 16.51%. The business had revenue of $656.80 million during the quarter, compared to analysts’ expectations of $614.01 million. During the same quarter in the prior year, the company posted $0.46 EPS. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year.
A number of other research firms have also recently weighed in on FMC. BidaskClub upgraded shares of FMC Corporation from a “hold” rating to a “buy” rating in a research report on Saturday. Credit Suisse Group set a $93.00 price target on shares of FMC Corporation and gave the stock a “buy” rating in a report on Thursday. They noted that the move was a valuation call. Piper Jaffray Companies restated a “hold” rating and issued a $85.00 price target on shares of FMC Corporation in a report on Thursday. BMO Capital Markets upped their price target on shares of FMC Corporation from $75.00 to $80.00 and gave the stock a “market perform” rating in a report on Thursday. Finally, Royal Bank Of Canada upped their price target on shares of FMC Corporation from $83.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $81.22.
Shares of FMC Corporation (NYSE:FMC) opened at 84.35 on Monday. The stock has a 50 day moving average of $75.56 and a 200 day moving average of $68.92. The stock has a market capitalization of $11.32 billion, a PE ratio of 248.82 and a beta of 1.62. FMC Corporation has a 52-week low of $44.40 and a 52-week high of $84.48.
Several hedge funds have recently added to or reduced their stakes in FMC. Contravisory Investment Management Inc. raised its stake in FMC Corporation by 163.4% in the first quarter. Contravisory Investment Management Inc. now owns 1,520 shares of the basic materials company’s stock valued at $106,000 after buying an additional 943 shares during the last quarter. Acrospire Investment Management LLC raised its position in shares of FMC Corporation by 522.9% in the first quarter. Acrospire Investment Management LLC now owns 1,906 shares of the basic materials company’s stock valued at $133,000 after buying an additional 1,600 shares during the last quarter. Aviance Capital Management LLC bought a new position in shares of FMC Corporation during the first quarter valued at approximately $200,000. United Capital Financial Advisers LLC bought a new position in shares of FMC Corporation during the first quarter valued at approximately $202,000. Finally, Conning Inc. bought a new position in shares of FMC Corporation during the first quarter valued at approximately $220,000. 89.97% of the stock is owned by institutional investors and hedge funds.
In other FMC Corporation news, VP Andrea E. Utecht sold 14,434 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $74.62, for a total transaction of $1,077,065.08. Following the completion of the sale, the vice president now directly owns 131,899 shares of the company’s stock, valued at $9,842,303.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William Howard Powell sold 3,000 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $72.73, for a total transaction of $218,190.00. Following the sale, the director now directly owns 17,554 shares of the company’s stock, valued at $1,276,702.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,489 shares of company stock valued at $3,118,310. Insiders own 1.10% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Friday, September 29th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, September 28th. FMC Corporation’s payout ratio is 188.58%.
FMC Corporation Company Profile
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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