FMC Co. (NYSE:FMC) Expected to Post Earnings of $1.69 Per Share

Wall Street brokerages expect FMC Co. (NYSE:FMCGet Rating) to post earnings of $1.69 per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for FMC’s earnings, with the highest EPS estimate coming in at $1.74 and the lowest estimate coming in at $1.63. FMC reported earnings of $1.53 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.5%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that FMC will report full year earnings of $7.74 per share for the current year, with EPS estimates ranging from $7.56 to $8.00. For the next year, analysts expect that the business will report earnings of $8.80 per share, with EPS estimates ranging from $8.59 to $9.10. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for FMC.

FMC (NYSE:FMCGet Rating) last issued its earnings results on Tuesday, February 8th. The basic materials company reported $2.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.14. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.37 billion. FMC had a return on equity of 29.16% and a net margin of 14.60%. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.42 EPS.

Several brokerages recently issued reports on FMC. Morgan Stanley increased their price target on FMC from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, February 11th. Citigroup raised their target price on FMC from $137.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, March 22nd. Redburn Partners began coverage on shares of FMC in a research report on Monday, January 31st. They issued a “buy” rating for the company. Monness Crespi & Hardt downgraded shares of FMC from a “buy” rating to a “neutral” rating in a research note on Thursday, March 31st. Finally, Loop Capital downgraded shares of FMC from a “buy” rating to a “hold” rating and set a $140.00 price target on the stock. in a research note on Thursday, April 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $129.47.

In other FMC news, CFO Andrew D. Sandifer sold 1,500 shares of FMC stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $119.36, for a total value of $179,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Pfeiffer sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $116.40, for a total value of $291,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,096 shares of company stock worth $1,306,961. Corporate insiders own 0.57% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC grew its position in shares of FMC by 0.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 11,587 shares of the basic materials company’s stock worth $1,273,000 after acquiring an additional 96 shares during the last quarter. Baird Financial Group Inc. increased its stake in shares of FMC by 1.6% in the fourth quarter. Baird Financial Group Inc. now owns 6,311 shares of the basic materials company’s stock valued at $694,000 after purchasing an additional 99 shares during the period. Sustainable Insight Capital Management LLC raised its holdings in shares of FMC by 4.4% during the fourth quarter. Sustainable Insight Capital Management LLC now owns 2,417 shares of the basic materials company’s stock valued at $266,000 after buying an additional 102 shares during the last quarter. Keybank National Association OH boosted its position in shares of FMC by 1.8% during the fourth quarter. Keybank National Association OH now owns 6,255 shares of the basic materials company’s stock worth $687,000 after buying an additional 108 shares during the period. Finally, Veritable L.P. grew its holdings in FMC by 1.9% in the 3rd quarter. Veritable L.P. now owns 6,206 shares of the basic materials company’s stock worth $568,000 after buying an additional 116 shares in the last quarter. Institutional investors own 88.63% of the company’s stock.

Shares of FMC stock opened at $137.38 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The company has a market cap of $17.30 billion, a PE ratio of 24.10, a P/E/G ratio of 1.61 and a beta of 0.88. The company’s fifty day simple moving average is $126.23 and its 200-day simple moving average is $111.54. FMC has a 52 week low of $87.27 and a 52 week high of $140.36.

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 21st. Shareholders of record on Thursday, March 31st will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Wednesday, March 30th. FMC’s dividend payout ratio is presently 37.19%.

FMC announced that its Board of Directors has authorized a share buyback plan on Tuesday, February 8th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the basic materials company to purchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

About FMC (Get Rating)

FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. It develops, markets, and sells crop protection chemicals that include insecticides, herbicides, and fungicides; and biologicals, crop nutrition, and seed treatment products, which 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.

See Also

Get a free copy of the Zacks research report on FMC (FMC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for FMC (NYSE:FMC)

Receive News & Ratings for FMC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FMC and related companies with MarketBeat.com's FREE daily email newsletter.