Q2 2022 EPS Estimates for FMC Co. Lowered by Analyst (NYSE:FMC)

FMC Co. (NYSE:FMCGet Rating) – Analysts at Jefferies Financial Group cut their Q2 2022 earnings estimates for shares of FMC in a note issued to investors on Tuesday, May 3rd. Jefferies Financial Group analyst L. Alexander now forecasts that the basic materials company will post earnings of $1.90 per share for the quarter, down from their previous forecast of $1.92. Jefferies Financial Group also issued estimates for FMC’s Q3 2022 earnings at $1.44 EPS and FY2024 earnings at $9.10 EPS.

FMC (NYSE:FMCGet Rating) last announced its earnings results on Monday, May 2nd. The basic materials company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.17. FMC had a return on equity of 30.30% and a net margin of 14.64%. During the same quarter last year, the business posted $1.53 EPS.

FMC has been the subject of a number of other reports. Wells Fargo & Company cut their price objective on FMC from $150.00 to $144.00 in a research report on Wednesday. Citigroup boosted their target price on FMC from $137.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, March 22nd. Mizuho boosted their price objective on FMC from $136.00 to $155.00 in a research note on Friday, April 29th. Morgan Stanley boosted their target price on FMC from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, February 11th. Finally, Redburn Partners started coverage on FMC in a report on Monday, January 31st. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $130.33.

NYSE FMC opened at $122.53 on Thursday. The business’s fifty day simple moving average is $129.93 and its 200-day simple moving average is $114.77. The company has a quick ratio of 1.00, a current ratio of 1.40 and a debt-to-equity ratio of 0.90. The firm has a market cap of $15.43 billion, a PE ratio of 20.63, a P/E/G ratio of 1.55 and a beta of 0.82. FMC has a 52 week low of $87.27 and a 52 week high of $140.99.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 21st. Stockholders of record on Thursday, June 30th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.73%. FMC’s dividend payout ratio (DPR) is currently 35.69%.

FMC announced that its Board of Directors has initiated a stock repurchase program on Tuesday, February 8th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to reacquire up to 7.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

In other FMC news, EVP Michael Finian Reilly sold 4,915 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $115.41, for a total transaction of $567,240.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Pfeiffer sold 2,181 shares of the firm’s stock in a transaction that occurred on Friday, March 11th. The shares were sold at an average price of $123.65, for a total value of $269,680.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,096 shares of company stock valued at $1,306,961. Insiders own 0.57% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of FMC. BlackRock Inc. lifted its holdings in FMC by 3.9% during the 3rd quarter. BlackRock Inc. now owns 10,266,996 shares of the basic materials company’s stock worth $940,046,000 after buying an additional 389,616 shares during the last quarter. Wellington Management Group LLP lifted its holdings in FMC by 27.4% during the 3rd quarter. Wellington Management Group LLP now owns 9,130,752 shares of the basic materials company’s stock worth $836,012,000 after buying an additional 1,964,364 shares during the last quarter. State Street Corp lifted its holdings in FMC by 2.0% during the 4th quarter. State Street Corp now owns 5,947,253 shares of the basic materials company’s stock worth $656,634,000 after buying an additional 114,410 shares during the last quarter. King Luther Capital Management Corp lifted its holdings in FMC by 1.0% during the 4th quarter. King Luther Capital Management Corp now owns 3,037,810 shares of the basic materials company’s stock worth $333,825,000 after buying an additional 28,998 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in FMC by 37.1% during the 4th quarter. American Century Companies Inc. now owns 2,890,516 shares of the basic materials company’s stock worth $317,638,000 after buying an additional 781,663 shares during the last quarter. Hedge funds and other institutional investors own 88.44% of the company’s stock.

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.

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Earnings History and Estimates for FMC (NYSE:FMC)

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