Jefferies Group Brokers Lower Earnings Estimates for FMC Corporation (FMC)
FMC Corporation (NYSE:FMC) – Investment analysts at Jefferies Group dropped their Q4 2017 earnings per share estimates for shares of FMC Corporation in a report issued on Wednesday. Jefferies Group analyst L. Alexander now forecasts that the basic materials company will post earnings per share of $0.90 for the quarter, down from their previous estimate of $0.94. Jefferies Group has a “Buy” rating and a $108.00 price objective on the stock.
Several other research analysts have also commented on FMC. Credit Suisse Group set a $85.00 price target on shares of FMC Corporation and gave the company a “buy” rating in a report on Monday, June 26th. Zacks Investment Research raised shares of FMC Corporation from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a report on Monday, July 10th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $83.00 price target on shares of FMC Corporation in a report on Wednesday, July 12th. Seaport Global Securities lowered shares of FMC Corporation from a “buy” rating to a “neutral” rating and decreased their price target for the company from $82.00 to $80.00 in a report on Tuesday, July 18th. Finally, BidaskClub raised shares of FMC Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. FMC Corporation presently has an average rating of “Buy” and a consensus price target of $87.89.
FMC Corporation (NYSE FMC) traded up 0.10% during trading on Thursday, reaching $92.52. 166,213 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $88.38 and a 200 day moving average price of $78.68. The stock has a market capitalization of $12.41 billion, a P/E ratio of 274.54 and a beta of 1.61. FMC Corporation has a 1-year low of $45.77 and a 1-year high of $93.44.
FMC Corporation (NYSE:FMC) last released its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $614.01 million. During the same quarter in the prior year, the firm posted $0.46 earnings per share. FMC Corporation’s revenue for the quarter was up 6.7% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.71%. FMC Corporation’s dividend payout ratio is currently 188.58%.
In other news, VP Andrea E. Utecht sold 14,174 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $84.00, for a total transaction of $1,190,616.00. Following the sale, the vice president now owns 131,639 shares in the company, valued at $11,057,676. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of FMC Corporation by 7.7% during the first quarter. Dimensional Fund Advisors LP now owns 515,431 shares of the basic materials company’s stock valued at $35,840,000 after acquiring an additional 37,011 shares during the period. KCG Holdings Inc. raised its holdings in shares of FMC Corporation by 3.9% during the first quarter. KCG Holdings Inc. now owns 22,879 shares of the basic materials company’s stock valued at $1,592,000 after acquiring an additional 860 shares during the period. Alliancebernstein L.P. raised its holdings in shares of FMC Corporation by 1.3% during the first quarter. Alliancebernstein L.P. now owns 247,449 shares of the basic materials company’s stock valued at $17,220,000 after acquiring an additional 3,144 shares during the period. Crawford Lake Capital Management LLC purchased a new position in FMC Corporation during the first quarter valued at approximately $2,029,000. Finally, Aviance Capital Management LLC purchased a new position in FMC Corporation during the first quarter valued at approximately $200,000. Institutional investors and hedge funds own 90.39% of the company’s stock.
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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