Brokerages forecast that FMC Corp (NYSE:FMC) will report $1.19 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for FMC’s earnings, with the highest sales estimate coming in at $1.25 billion and the lowest estimate coming in at $1.09 billion. FMC reported sales of $656.80 million during the same quarter last year, which indicates a positive year-over-year growth rate of 81.2%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, August 1st.
According to Zacks, analysts expect that FMC will report full year sales of $4.63 billion for the current fiscal year, with estimates ranging from $4.58 billion to $4.66 billion. For the next fiscal year, analysts anticipate that the company will post sales of $4.92 billion per share, with estimates ranging from $4.80 billion to $5.02 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover FMC.
Get FMC alerts:FMC (NYSE:FMC) last announced its earnings results on Wednesday, May 2nd. The basic materials company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.21. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.17 billion. FMC had a net margin of 26.54% and a return on equity of 22.69%. The company’s quarterly revenue was up 103.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 EPS.
FMC has been the topic of a number of recent research reports. Credit Suisse Group lifted their target price on shares of FMC from $100.00 to $107.00 and gave the company an “outperform” rating in a report on Friday, May 4th. Goldman Sachs Group raised shares of FMC from a “neutral” rating to a “buy” rating and cut their target price for the company from $98.70 to $98.00 in a report on Monday, May 14th. Bank of America set a $100.00 target price on shares of FMC and gave the company a “buy” rating in a report on Friday, May 4th. Nomura lifted their target price on shares of FMC from $100.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, July 11th. Finally, Zacks Investment Research raised shares of FMC from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Friday, July 6th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. FMC presently has an average rating of “Buy” and an average price target of $100.33.
Shares of FMC stock traded up $1.03 during trading on Friday, reaching $87.75. The company’s stock had a trading volume of 1,693,085 shares, compared to its average volume of 1,407,337. The stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 1.01 and a beta of 1.63. FMC has a fifty-two week low of $72.73 and a fifty-two week high of $98.70. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.61 and a quick ratio of 1.23.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 19th. Investors of record on Friday, June 29th will be given a $0.165 dividend. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $0.66 dividend on an annualized basis and a yield of 0.75%. FMC’s dividend payout ratio (DPR) is 24.35%.
In related news, CEO Pierre R. Brondeau sold 72,992 shares of FMC stock in a transaction on Monday, May 7th. The shares were sold at an average price of $87.19, for a total value of $6,364,172.48. Following the transaction, the chief executive officer now directly owns 407,487 shares in the company, valued at approximately $35,528,791.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul W. Graves sold 3,615 shares of FMC stock in a transaction on Wednesday, June 6th. The shares were sold at an average price of $88.46, for a total transaction of $319,782.90. Following the completion of the transaction, the insider now owns 89,612 shares in the company, valued at $7,927,077.52. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
Large investors have recently bought and sold shares of the stock. William Blair Investment Management LLC boosted its position in shares of FMC by 18.5% during the 4th quarter. William Blair Investment Management LLC now owns 61,532 shares of the basic materials company’s stock worth $5,825,000 after purchasing an additional 9,616 shares in the last quarter. Advisor Group Inc. boosted its position in shares of FMC by 27.4% during the 4th quarter. Advisor Group Inc. now owns 4,770 shares of the basic materials company’s stock worth $451,000 after purchasing an additional 1,027 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of FMC during the 4th quarter worth $3,932,000. AMP Capital Investors Ltd boosted its position in shares of FMC by 2.4% during the 4th quarter. AMP Capital Investors Ltd now owns 46,297 shares of the basic materials company’s stock worth $4,382,000 after purchasing an additional 1,100 shares in the last quarter. Finally, MML Investors Services LLC purchased a new stake in shares of FMC during the 4th quarter worth $313,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.
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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