FMC Corporation (FMC) Expected to Announce Quarterly Sales of $690.00 Million
Brokerages predict that FMC Corporation (NYSE:FMC) will post $690.00 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for FMC Corporation’s earnings. The lowest sales estimate is $685.00 million and the highest is $699.00 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 14.6%. The company is expected to issue its next quarterly earnings report after the market closes on Monday, November 6th.
On average, analysts expect that FMC Corporation will report full-year sales of $690.00 million for the current financial year, with estimates ranging from $2.65 billion to $2.72 billion. For the next financial year, analysts expect that the business will report sales of $4.34 billion per share, with estimates ranging from $4.27 billion to $4.41 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover FMC Corporation.
FMC Corporation (NYSE:FMC) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.48 EPS for the quarter, topping 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 company had revenue of $656.80 million for the quarter, compared to analyst estimates of $614.01 million. During the same quarter in the prior year, the business posted $0.46 EPS. FMC Corporation’s quarterly revenue was up 6.7% on a year-over-year basis.
Several analysts have commented on FMC shares. Zacks Investment Research raised shares of FMC Corporation from a “hold” rating to a “strong-buy” rating and set a $103.00 target price for the company in a research note on Tuesday, October 3rd. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $85.00 target price on shares of FMC Corporation in a research note on Tuesday, September 5th. KeyCorp reaffirmed a “buy” rating and issued a $98.00 target price on shares of FMC Corporation in a research note on Wednesday, October 4th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $83.00 target price on shares of FMC Corporation in a research note on Wednesday, July 12th. Finally, Credit Suisse Group set a $93.00 target price on shares of FMC Corporation and gave the stock a “buy” rating in a research note on Thursday, August 3rd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. FMC Corporation presently has a consensus rating of “Buy” and a consensus target price of $88.24.
In related news, VP Andrea E. Utecht sold 14,174 shares of FMC Corporation stock in a transaction 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 transaction, the vice president now owns 131,639 shares in the company, valued at approximately $11,057,676. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.
Several large investors have recently bought and sold shares of FMC. Teachers Advisors LLC lifted its holdings in shares of FMC Corporation by 244.3% during the 1st quarter. Teachers Advisors LLC now owns 522,556 shares of the basic materials company’s stock valued at $36,365,000 after acquiring an additional 370,781 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of FMC Corporation during the 1st quarter valued at $19,743,000. Canada Pension Plan Investment Board lifted its holdings in shares of FMC Corporation by 78.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 219,070 shares of the basic materials company’s stock valued at $16,003,000 after acquiring an additional 96,559 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of FMC Corporation by 7.7% during the 1st 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 in the last quarter. Finally, Bank of Nova Scotia acquired a new position in shares of FMC Corporation during the 1st quarter valued at $2,123,000. Institutional investors and hedge funds own 90.52% of the company’s stock.
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FMC Corporation (NYSE FMC) opened at 94.17 on Wednesday. The stock’s 50 day moving average is $90.57 and its 200 day moving average is $80.47. FMC Corporation has a 52 week low of $45.91 and a 52 week high of $95.08. The firm has a market cap of $12.63 billion, a price-to-earnings ratio of 279.44 and a beta of 1.61.
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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