KeyCorp Equities Analysts Raise Earnings Estimates for FMC Corporation (FMC)
FMC Corporation (NYSE:FMC) – Research analysts at KeyCorp boosted their FY2018 EPS estimates for FMC in a research note issued to investors on Sunday. KeyCorp analyst M. Sison now expects that the basic materials company will post earnings of $5.50 per share for the year, up from their prior estimate of $5.40. KeyCorp currently has a “Buy” rating and a $112.00 target price on the stock.
A number of other analysts also recently commented on FMC. Stephens began coverage on shares of FMC in a research report on Monday. They set an “equal weight” rating and a $91.00 price target on the stock. Goldman Sachs Group began coverage on shares of FMC in a research report on Monday. They set a “neutral” rating and a $98.00 price target on the stock. Susquehanna Bancshares boosted their price target on shares of FMC from $86.00 to $100.00 and gave the stock a “positive” rating in a research report on Tuesday, August 8th. Instinet upgraded shares of FMC from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $78.00 to $97.00 in a research report on Wednesday, August 9th. Finally, Jefferies Group set a $100.00 price target on shares of FMC and gave the stock a “buy” rating in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. FMC presently has an average rating of “Buy” and a consensus target price of $92.61.
FMC (NYSE:FMC) last released its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. FMC had a net margin of 0.78% and a return on equity of 16.77%. The company had revenue of $646.20 million for the quarter, compared to the consensus estimate of $686.21 million. During the same period in the previous year, the firm earned $0.67 EPS. FMC’s revenue was up 2.8% on a year-over-year basis.
Hedge funds have recently added to or reduced their stakes in the company. Advisor Partners LLC acquired a new stake in shares of FMC during the third quarter valued at approximately $216,000. Achmea Investment Management B.V. acquired a new stake in shares of FMC during the third quarter valued at approximately $246,000. Nordea Investment Management AB raised its holdings in shares of FMC by 99.7% during the third quarter. Nordea Investment Management AB now owns 8,042 shares of the basic materials company’s stock valued at $718,000 after acquiring an additional 4,015 shares during the period. Virginia Retirement Systems ET AL acquired a new stake in shares of FMC during the third quarter valued at approximately $831,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of FMC by 28.7% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,815 shares of the basic materials company’s stock valued at $1,145,000 after acquiring an additional 2,860 shares during the period. Institutional investors and hedge funds own 89.34% of the company’s stock.
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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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