FMC (NYSE:FMC) updated its FY 2019 earnings guidance on Monday. The company provided EPS guidance of $5.55-5.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.93. The company issued revenue guidance of $4.45-4.55 billion, compared to the consensus revenue estimate of $4.54 billion.FMC also updated its Q1 2019 guidance to $1.58-1.68 EPS.
Several analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of FMC from a hold rating to a sell rating in a research report on Thursday, January 3rd. Buckingham Research assumed coverage on shares of FMC in a report on Wednesday, November 14th. They set a buy rating and a $106.00 target price on the stock. Loop Capital set a $118.00 target price on shares of FMC and gave the stock a buy rating in a report on Wednesday, December 5th. Citigroup assumed coverage on shares of FMC in a report on Monday, November 5th. They set a buy rating and a $92.00 target price on the stock. Finally, ValuEngine raised shares of FMC from a sell rating to a hold rating in a report on Thursday, November 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. FMC presently has an average rating of Buy and a consensus target price of $102.17.
FMC stock traded up $0.21 during midday trading on Monday, reaching $84.76. 916,436 shares of the stock were exchanged, compared to its average volume of 924,137. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $11.39 billion, a PE ratio of 31.28, a price-to-earnings-growth ratio of 1.01 and a beta of 1.49. FMC has a 52 week low of $69.36 and a 52 week high of $92.95.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 17th. Stockholders of record on Friday, December 28th were issued a $0.40 dividend. This is a positive change from FMC’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, December 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.89%. FMC’s dividend payout ratio is presently 59.04%.
FMC declared that its Board of Directors has approved a share buyback program on Monday, December 3rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In related news, Director Eduardo E. Cordeiro purchased 3,500 shares of the firm’s stock in a transaction dated Thursday, December 20th. The shares were purchased at an average price of $71.90 per share, with a total value of $251,650.00. Following the acquisition, the director now directly owns 21,645 shares of the company’s stock, valued at $1,556,275.50. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.
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FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that are used in agriculture to enhance crop yield and quality by controlling a range of insects, weeds, and diseases, as well as in non-agricultural markets for pest control.
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