FMC (NYSE:FMC) Price Target Cut to $50.00

FMC (NYSE:FMC) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $53.00 to $50.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 24.55% from the company’s previous close.

A number of other brokerages have also commented on FMC. UBS Group upgraded FMC from a “neutral” rating to a “buy” rating and upped their price target for the stock from $61.00 to $84.00 in a report on Wednesday, March 20th. StockNews.com raised shares of FMC from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Loop Capital boosted their price objective on shares of FMC from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, March 19th. Wolfe Research began coverage on shares of FMC in a research note on Friday, March 1st. They issued a “peer perform” rating for the company. Finally, Mizuho boosted their price target on FMC from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, FMC currently has a consensus rating of “Hold” and a consensus price target of $70.56.

FMC Trading Down 0.7 %

NYSE:FMC opened at $66.27 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.46 and a debt-to-equity ratio of 0.70. The company’s 50 day moving average is $61.69 and its 200-day moving average is $58.12. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of 7.40, a P/E/G ratio of 2.21 and a beta of 0.88. FMC has a 12 month low of $49.49 and a 12 month high of $111.95.

FMC (NYSE:FMC) last released its earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $918.00 million during the quarter, compared to analyst estimates of $1.01 billion. FMC had a net margin of 27.65% and a return on equity of 7.68%. The business’s revenue was down 31.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.77 EPS. Equities analysts anticipate that FMC will post 3.82 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Andrew D. Sandifer purchased 2,150 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were acquired at an average cost of $59.22 per share, with a total value of $127,323.00. Following the completion of the purchase, the chief financial officer now directly owns 50,088 shares of the company’s stock, valued at $2,966,211.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.81% of the company’s stock.

Institutional Trading of FMC

Several institutional investors and hedge funds have recently added to or reduced their stakes in FMC. Riverview Trust Co acquired a new stake in shares of FMC during the 1st quarter worth approximately $27,000. CVA Family Office LLC bought a new stake in shares of FMC during the 4th quarter valued at $31,000. Quintet Private Bank Europe S.A. acquired a new position in shares of FMC in the 3rd quarter valued at $33,000. Financial Connections Group Inc. bought a new position in shares of FMC in the 4th quarter worth $31,000. Finally, Spire Wealth Management grew its stake in shares of FMC by 143.1% during the third quarter. Spire Wealth Management now owns 508 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 299 shares during the period. 91.86% of the stock is owned by institutional investors.

FMC Company Profile

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 includes 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.