Royal Bank of Canada Reiterates “Buy” Rating for FMC (FMC)

FMC (NYSE:FMC)‘s stock had its “buy” rating reissued by equities researchers at Royal Bank of Canada in a note issued to investors on Wednesday.

FMC has been the subject of a number of other reports. Credit Suisse Group set a $111.00 price target on shares of FMC and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Zacks Investment Research cut shares of FMC from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 10th. Nomura upped their price target on shares of FMC from $97.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. KeyCorp reaffirmed a “buy” rating and set a $112.00 price target on shares of FMC in a research report on Monday, December 4th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $92.00 price objective on shares of FMC in a report on Friday, November 10th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $97.37.

Shares of FMC (FMC) traded up $3.40 during trading on Wednesday, reaching $85.26. 2,156,996 shares of the company were exchanged, compared to its average volume of 1,480,000. The company has a current ratio of 2.19, a quick ratio of 1.81 and a debt-to-equity ratio of 0.70. FMC has a 12-month low of $57.29 and a 12-month high of $98.70. The stock has a market cap of $11,450.00, a PE ratio of -133.22, a price-to-earnings-growth ratio of 1.41 and a beta of 1.52.

FMC (NYSE:FMC) last announced its quarterly earnings results on Monday, February 12th. The basic materials company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.05. FMC had a net margin of 18.61% and a return on equity of 18.25%. The firm had revenue of $979.60 million during the quarter, compared to analysts’ expectations of $993.57 million. During the same period in the prior year, the company earned $0.88 EPS. The firm’s revenue was up 42.3% on a year-over-year basis. analysts predict that FMC will post 5.37 earnings per share for the current year.

In other news, insider Nicholas Pfeiffer sold 375 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $90.33, for a total value of $33,873.75. Following the sale, the insider now owns 6,856 shares in the company, valued at approximately $619,302.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of FMC by 3.4% in the 4th quarter. BlackRock Inc. now owns 9,261,241 shares of the basic materials company’s stock valued at $876,668,000 after purchasing an additional 308,432 shares in the last quarter. Third Point LLC raised its stake in shares of FMC by 10.0% in the 3rd quarter. Third Point LLC now owns 2,200,000 shares of the basic materials company’s stock valued at $196,482,000 after purchasing an additional 200,000 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of FMC by 2.2% in the 4th quarter. Global X Management Co. LLC now owns 1,882,596 shares of the basic materials company’s stock valued at $178,207,000 after purchasing an additional 39,650 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of FMC by 6.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,556,494 shares of the basic materials company’s stock valued at $147,338,000 after purchasing an additional 95,036 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of FMC by 647.4% in the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,526,744 shares of the basic materials company’s stock valued at $144,522,000 after purchasing an additional 1,322,470 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

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About FMC

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.

Analyst Recommendations for FMC (NYSE:FMC)

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