$689.13 Million in Sales Expected for FMC Corporation (FMC) This Quarter
Equities research analysts expect FMC Corporation (NYSE:FMC) to post sales of $689.13 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for FMC Corporation’s earnings, with the lowest sales estimate coming in at $664.30 million and the highest estimate coming in at $705.00 million. FMC Corporation posted sales of $807.70 million during the same quarter last year, which would indicate a negative year over year growth rate of 14.7%. The business is scheduled to report its next earnings report after the market closes on Monday, November 6th.
According to Zacks, analysts expect that FMC Corporation will report full year sales of $689.13 million for the current year, with estimates ranging from $2.62 billion to $2.72 billion. For the next year, analysts expect that the business will post sales of $4.34 billion per share, with estimates ranging from $4.27 billion to $4.40 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow FMC Corporation.
FMC Corporation (NYSE:FMC) last posted its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. The company had revenue of $656.80 million during the quarter, compared to analysts’ expectations of $614.01 million. FMC Corporation had a return on equity of 16.51% and a net margin of 1.58%. FMC Corporation’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 earnings per share.
FMC has been the subject of a number of analyst reports. Credit Suisse Group set a $85.00 price target on FMC Corporation and gave the company a “buy” rating in a research note on Thursday, May 4th. TheStreet upgraded FMC Corporation from a “c+” rating to a “b-” rating in a research note on Thursday, May 4th. Zacks Investment Research upgraded FMC Corporation from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Monday, July 10th. Jefferies Group LLC lifted their price target on FMC Corporation from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, April 19th. Finally, Seaport Global Securities downgraded FMC Corporation from a “buy” rating to a “neutral” rating and cut their price target for the company from $82.00 to $80.00 in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $83.40.
In related news, VP Andrea E. Utecht sold 14,434 shares of FMC Corporation stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $74.62, for a total value of $1,077,065.08. Following the sale, the vice president now owns 131,899 shares of the company’s stock, valued at approximately $9,842,303.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Douglas sold 12,697 shares of FMC Corporation stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $75.82, for a total transaction of $962,686.54. Following the completion of the sale, the insider now directly owns 73,690 shares in the company, valued at approximately $5,587,175.80. The disclosure for this sale can be found here. Insiders sold a total of 38,489 shares of company stock worth $2,900,120 in the last 90 days. Company insiders own 1.10% of the company’s stock.
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in FMC Corporation by 4.1% in the first quarter. Vanguard Group Inc. now owns 13,437,788 shares of the basic materials company’s stock worth $935,135,000 after buying an additional 527,494 shares during the period. Glenview Capital Management LLC boosted its stake in FMC Corporation by 10.8% in the first quarter. Glenview Capital Management LLC now owns 10,577,624 shares of the basic materials company’s stock worth $736,097,000 after buying an additional 1,029,806 shares during the period. BlackRock Inc. boosted its stake in FMC Corporation by 2,944.3% in the first quarter. BlackRock Inc. now owns 8,723,379 shares of the basic materials company’s stock worth $607,062,000 after buying an additional 8,436,830 shares during the period. King Luther Capital Management Corp boosted its stake in FMC Corporation by 1.3% in the first quarter. King Luther Capital Management Corp now owns 2,899,596 shares of the basic materials company’s stock worth $201,783,000 after buying an additional 38,036 shares during the period. Finally, York Capital Management Global Advisors LLC bought a new stake in FMC Corporation during the first quarter worth approximately $167,824,000. 89.97% of the stock is currently owned by institutional investors.
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Shares of FMC Corporation (NYSE FMC) opened at 82.73 on Friday. The company has a market cap of $11.10 billion, a price-to-earnings ratio of 245.49 and a beta of 1.62. FMC Corporation has a 12-month low of $44.40 and a 12-month high of $85.10. The company’s 50-day moving average price is $77.42 and its 200 day moving average price is $70.11.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Friday, September 29th will be paid a $0.165 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.80%. FMC Corporation’s payout ratio is presently 188.58%.
About FMC Corporation
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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