FMC Corporation (FMC) Expected to Post Earnings of $0.63 Per Share
Wall Street analysts expect that FMC Corporation (NYSE:FMC) will announce $0.63 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for FMC Corporation’s earnings, with the highest EPS estimate coming in at $0.67 and the lowest estimate coming in at $0.60. FMC Corporation posted earnings of $0.67 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 6%. The firm is scheduled to report its next quarterly earnings report after the market closes on Monday, November 6th.
According to Zacks, analysts expect that FMC Corporation will report full-year earnings of $2.42 per share for the current financial year, with EPS estimates ranging from $2.35 to $2.45. For the next fiscal year, analysts expect that the company will post earnings of $4.97 per share, with EPS estimates ranging from $3.99 to $5.40. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover FMC Corporation.
FMC Corporation (NYSE:FMC) last issued its earnings results on Tuesday, August 1st. The basic materials company reported $0.48 EPS for the quarter, topping the 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 company had revenue of $656.80 million for the quarter, compared to the consensus estimate of $614.01 million. During the same period in the previous year, the firm earned $0.46 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis.
A number of brokerages recently issued reports on FMC. Jefferies Group LLC restated a “buy” rating and issued a $84.00 price target on shares of FMC Corporation in a research report on Thursday, July 6th. Nomura upgraded FMC Corporation from a “neutral” rating to a “buy” rating and raised their price target for the stock from $78.00 to $97.00 in a research report on Friday, August 4th. BidaskClub upgraded FMC Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Zacks Investment Research upgraded FMC Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Credit Suisse Group set a $93.00 price target on FMC Corporation and gave the stock a “buy” rating in a research report on Thursday, August 3rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $85.04.
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In other news, VP Andrea E. Utecht sold 14,174 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $84.00, for a total transaction of $1,190,616.00. Following the transaction, the vice president now owns 131,639 shares in the company, valued at $11,057,676. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in FMC. BlackRock Inc. increased its stake in shares of FMC Corporation by 2,944.3% during the first quarter. BlackRock Inc. now owns 8,723,379 shares of the basic materials company’s stock valued at $607,062,000 after buying an additional 8,436,830 shares during the period. York Capital Management Global Advisors LLC purchased a new position in shares of FMC Corporation during the first quarter valued at $167,824,000. Glenview Capital Management LLC increased its stake in shares of FMC Corporation by 10.8% during the first quarter. Glenview Capital Management LLC now owns 10,577,624 shares of the basic materials company’s stock valued at $736,097,000 after buying an additional 1,029,806 shares during the period. Vanguard Group Inc. increased its stake in shares of FMC Corporation by 4.1% during the first quarter. Vanguard Group Inc. now owns 13,437,788 shares of the basic materials company’s stock valued at $935,135,000 after buying an additional 527,494 shares during the period. Finally, Teachers Advisors LLC increased its stake in shares of FMC Corporation by 244.3% during the first quarter. Teachers Advisors LLC now owns 522,556 shares of the basic materials company’s stock valued at $36,365,000 after buying an additional 370,781 shares during the period. Hedge funds and other institutional investors own 90.45% of the company’s stock.
FMC Corporation (FMC) opened at 89.56 on Friday. FMC Corporation has a 52 week low of $45.77 and a 52 week high of $90.68. The company has a 50 day moving average of $84.62 and a 200 day moving average of $74.68. The stock has a market capitalization of $12.01 billion, a P/E ratio of 265.76 and a beta of 1.60.
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 given a dividend of $0.165 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.66 annualized dividend and a dividend yield of 0.74%. FMC Corporation’s dividend payout ratio (DPR) 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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