FMC Co. (NYSE:FMC) Expected to Post Q1 2023 Earnings of $2.01 Per Share

FMC Co. (NYSE:FMCGet Rating) – Equities research analysts at KeyCorp issued their Q1 2023 EPS estimates for FMC in a research note issued to investors on Wednesday, January 11th. KeyCorp analyst A. Yefremov anticipates that the basic materials company will post earnings per share of $2.01 for the quarter. KeyCorp has a “Overweight” rating and a $140.00 price target on the stock. The consensus estimate for FMC’s current full-year earnings is $7.38 per share. KeyCorp also issued estimates for FMC’s Q2 2023 earnings at $2.24 EPS, Q3 2023 earnings at $1.43 EPS and FY2023 earnings at $8.40 EPS.

FMC (NYSE:FMCGet Rating) last issued its earnings results on Tuesday, November 1st. The basic materials company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.13. FMC had a net margin of 11.72% and a return on equity of 29.34%. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.34 billion.

FMC has been the topic of several other research reports. Wells Fargo & Company lifted their price target on shares of FMC from $141.00 to $148.00 and gave the stock an “overweight” rating in a research note on Monday, January 9th. Loop Capital upgraded shares of FMC from a “hold” rating to a “buy” rating and lifted their price target for the stock from $132.00 to $149.00 in a research note on Tuesday, November 15th. UBS Group lifted their price target on shares of FMC from $142.00 to $147.00 and gave the stock a “buy” rating in a research note on Wednesday, January 11th. Morgan Stanley upgraded shares of FMC from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $125.00 to $145.00 in a research note on Tuesday, January 10th. Finally, StockNews.com upgraded shares of FMC from a “hold” rating to a “buy” rating in a research note on Friday, October 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, FMC currently has an average rating of “Moderate Buy” and an average price target of $137.00.

FMC Trading Up 0.5 %

Shares of FMC stock opened at $129.97 on Monday. The firm’s 50 day moving average is $126.96 and its 200 day moving average is $116.04. The stock has a market capitalization of $16.37 billion, a P/E ratio of 25.14, a P/E/G ratio of 1.56 and a beta of 0.84. FMC has a 12-month low of $98.24 and a 12-month high of $140.99. The company has a current ratio of 1.41, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85.

Hedge Funds Weigh In On FMC

Hedge funds have recently added to or reduced their stakes in the company. Wipfli Financial Advisors LLC bought a new position in FMC during the 3rd quarter valued at about $119,000. Crossmark Global Holdings Inc. boosted its position in FMC by 3.1% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 5,901 shares of the basic materials company’s stock valued at $632,000 after buying an additional 180 shares during the period. FirstPurpose Wealth LLC purchased a new stake in FMC in the 3rd quarter valued at about $247,000. Allworth Financial LP boosted its position in FMC by 29.0% in the 3rd quarter. Allworth Financial LP now owns 1,322 shares of the basic materials company’s stock valued at $140,000 after buying an additional 297 shares during the period. Finally, Brookstone Capital Management purchased a new stake in FMC in the 2nd quarter valued at about $221,000. 88.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at FMC

In other FMC news, EVP Michael Finian Reilly sold 4,502 shares of FMC stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $126.95, for a total value of $571,528.90. Following the sale, the executive vice president now directly owns 18,354 shares in the company, valued at approximately $2,330,040.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Michael Finian Reilly sold 4,502 shares of the business’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $126.95, for a total value of $571,528.90. Following the sale, the executive vice president now directly owns 18,354 shares in the company, valued at approximately $2,330,040.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicholas Pfeiffer sold 500 shares of the business’s stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $132.56, for a total transaction of $66,280.00. Following the completion of the sale, the insider now owns 11,222 shares in the company, valued at $1,487,588.32. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

FMC Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 19th. Shareholders of record on Friday, December 30th will be issued a $0.58 dividend. This is an increase from FMC’s previous quarterly dividend of $0.53. This represents a $2.32 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Thursday, December 29th. FMC’s payout ratio is currently 44.87%.

About FMC

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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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