FY2023 EPS Estimates for FMC Co. (NYSE:FMC) Lowered by Seaport Res Ptn

FMC Co. (NYSE:FMC) – Equities research analysts at Seaport Res Ptn dropped their FY2023 earnings per share estimates for shares of FMC in a research report issued on Tuesday, October 31st. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will post earnings per share of $3.80 for the year, down from their prior forecast of $3.88. The consensus estimate for FMC’s current full-year earnings is $3.82 per share. Seaport Res Ptn also issued estimates for FMC’s Q4 2023 earnings at $1.09 EPS.

FMC (NYSE:FMC) last released its earnings results on Tuesday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The business had revenue of $981.90 million during the quarter, compared to analyst estimates of $1.01 billion. FMC had a net margin of 10.01% and a return on equity of 18.84%. The business’s quarterly revenue was down 28.7% compared to the same quarter last year. During the same period last year, the business earned $1.23 EPS.

A number of other analysts have also issued reports on FMC. Credit Suisse Group raised FMC from an “underperform” rating to a “neutral” rating and set a $101.00 target price on the stock in a report on Friday, August 4th. Redburn Atlantic reiterated a “neutral” rating and issued a $71.00 price objective on shares of FMC in a research report on Monday, September 25th. UBS Group downgraded FMC from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $120.00 to $97.00 in a research report on Tuesday, September 5th. KeyCorp reduced their price objective on FMC from $107.00 to $83.00 and set an “overweight” rating for the company in a research report on Tuesday, October 24th. Finally, Bank of America reiterated a “neutral” rating and issued a $63.00 price objective on shares of FMC in a research report on Tuesday, October 24th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $92.50.

FMC Stock Performance

FMC opened at $54.69 on Thursday. The firm has a market capitalization of $6.82 billion, a P/E ratio of 13.92, a price-to-earnings-growth ratio of 1.74 and a beta of 0.90. The stock’s 50 day moving average price is $69.22 and its two-hundred day moving average price is $91.70. The company has a quick ratio of 0.96, a current ratio of 1.54 and a debt-to-equity ratio of 0.91. FMC has a 12-month low of $49.70 and a 12-month high of $134.38.

Insider Buying and Selling

In related news, insider Nicholas Pfeiffer bought 992 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was acquired at an average price of $75.62 per share, for a total transaction of $75,015.04. Following the transaction, the insider now directly owns 13,056 shares of the company’s stock, valued at $987,294.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FMC news, EVP Ronaldo Pereira acquired 2,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was purchased at an average price of $75.59 per share, for a total transaction of $151,180.00. Following the transaction, the executive vice president now owns 21,478 shares in the company, valued at approximately $1,623,522.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas Pfeiffer acquired 992 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was acquired at an average price of $75.62 per share, with a total value of $75,015.04. Following the transaction, the insider now owns 13,056 shares in the company, valued at approximately $987,294.72. The disclosure for this purchase can be found here. 0.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FMC

Several institutional investors have recently bought and sold shares of the business. Baird Financial Group Inc. raised its position in FMC by 3.1% in the 4th quarter. Baird Financial Group Inc. now owns 2,826 shares of the basic materials company’s stock valued at $352,000 after purchasing an additional 84 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of FMC by 0.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 14,050 shares of the basic materials company’s stock valued at $1,715,000 after buying an additional 92 shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of FMC by 68.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 228 shares of the basic materials company’s stock valued at $28,000 after buying an additional 93 shares during the period. Moody National Bank Trust Division increased its stake in shares of FMC by 1.7% in the 2nd quarter. Moody National Bank Trust Division now owns 5,998 shares of the basic materials company’s stock valued at $626,000 after buying an additional 99 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in shares of FMC by 1.2% in the 1st quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the basic materials company’s stock valued at $1,001,000 after buying an additional 100 shares during the period. Institutional investors own 86.91% of the company’s stock.

About FMC

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.