Jefferies Group Weighs in on FMC Corp’s FY2018 Earnings (FMC)
FMC Corp (NYSE:FMC) – Analysts at Jefferies Group cut their FY2018 EPS estimates for shares of FMC in a research report issued on Tuesday. Jefferies Group analyst L. Alexander now forecasts that the basic materials company will post earnings per share of $5.30 for the year, down from their previous forecast of $5.60. Jefferies Group has a “Buy” rating and a $108.00 price target on the stock. Jefferies Group also issued estimates for FMC’s FY2019 earnings at $5.95 EPS and FY2020 earnings at $6.60 EPS.
FMC (NYSE:FMC) last released its 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. The company had revenue of $646.20 million during the quarter, compared to analysts’ expectations of $686.21 million. FMC had a net margin of 0.78% and a return on equity of 16.77%. FMC’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the business earned $0.67 EPS.
Shares of FMC (NYSE:FMC) traded up $0.50 during midday trading on Thursday, reaching $97.45. 1,020,000 shares of the company’s stock traded hands, compared to its average volume of 959,102. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.81 and a current ratio of 2.19. FMC has a twelve month low of $56.53 and a twelve month high of $98.69. The firm has a market cap of $13,080.00, a PE ratio of 66.75, a price-to-earnings-growth ratio of 1.59 and a beta of 1.61.
Hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB increased its stake in FMC by 99.7% in the third quarter. Nordea Investment Management AB now owns 8,042 shares of the basic materials company’s stock valued at $718,000 after purchasing an additional 4,015 shares during the last quarter. Schroder Investment Management Group increased its stake in FMC by 692.7% in the second quarter. Schroder Investment Management Group now owns 32,500 shares of the basic materials company’s stock valued at $2,384,000 after purchasing an additional 28,400 shares during the last quarter. Oakbrook Investments LLC increased its stake in FMC by 27.9% in the third quarter. Oakbrook Investments LLC now owns 13,290 shares of the basic materials company’s stock valued at $1,187,000 after purchasing an additional 2,900 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new position in FMC in the third quarter valued at approximately $831,000. Finally, JPMorgan Chase & Co. increased its stake in FMC by 134.4% in the third quarter. JPMorgan Chase & Co. now owns 288,014 shares of the basic materials company’s stock valued at $25,334,000 after purchasing an additional 165,136 shares during the last quarter. Hedge funds and other institutional investors own 89.28% of the company’s stock.
In other FMC news, insider Nicholas Pfeiffer sold 375 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $90.33, for a total transaction of $33,873.75. Following the sale, the insider now directly owns 6,856 shares in the company, valued at $619,302.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 18th. Shareholders of record on Friday, December 29th will be given a $0.165 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.66 dividend on an annualized basis and a yield of 0.68%. FMC’s payout ratio is currently 45.21%.
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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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