FMC (NYSE:FMC) updated its first quarter 2019 earnings guidance on Monday. The company provided earnings per share guidance of $1.58-1.68 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.79. The company issued revenue guidance of $1.18-1.21 billion, compared to the consensus revenue estimate of $1.22 billion.FMC also updated its FY 2019 guidance to $5.55-5.75 EPS.
Several brokerages recently weighed in on FMC. Zacks Investment Research cut shares of FMC from a hold rating to a sell rating in a research report on Thursday, January 3rd. Buckingham Research began coverage on shares of FMC in a research report on Wednesday, November 14th. They issued a buy rating and a $106.00 price target on the stock. Loop Capital set a $118.00 price target on shares of FMC and gave the stock a buy rating in a research report on Wednesday, December 5th. Citigroup began coverage on shares of FMC in a research report on Monday, November 5th. They issued a buy rating and a $92.00 price target on the stock. Finally, ValuEngine upgraded shares of FMC from a sell rating to a hold rating in a research report on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $102.17.
FMC stock traded up $0.21 during mid-day trading on Monday, reaching $84.76. 916,436 shares of the stock traded hands, compared to its average volume of 924,137. The company has a quick ratio of 1.10, a current ratio of 1.54 and a debt-to-equity ratio of 0.84. FMC has a one year low of $69.36 and a one year high of $92.95. The stock has a market capitalization of $11.39 billion, a price-to-earnings ratio of 31.28, a price-to-earnings-growth ratio of 1.01 and a beta of 1.49.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 17th. Shareholders of record on Friday, December 28th were given a dividend of $0.40 per share. This is a boost from FMC’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, December 27th. This represents a $1.60 dividend on an annualized basis and a yield of 1.89%. FMC’s payout ratio is 59.04%.
FMC declared that its board has authorized a share buyback plan on Monday, December 3rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the basic materials company to buy up to 9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Eduardo E. Cordeiro acquired 3,500 shares of the business’s stock in a transaction on Thursday, December 20th. The shares were acquired at an average price of $71.90 per share, for a total transaction of $251,650.00. Following the completion of the transaction, the director now directly owns 21,645 shares of the company’s stock, valued at approximately $1,556,275.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.
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FMC Company Profile
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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