Seaport Res Ptn Has Positive Outlook of FMC FY2024 Earnings

FMC Co. (NYSE:FMC) – Stock analysts at Seaport Res Ptn increased their FY2024 earnings per share estimates for FMC in a research report issued on Wednesday, October 30th. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will post earnings per share of $3.35 for the year, up from their previous forecast of $3.30. The consensus estimate for FMC’s current full-year earnings is $3.30 per share. Seaport Res Ptn also issued estimates for FMC’s Q1 2025 earnings at $1.05 EPS, Q2 2025 earnings at $1.13 EPS and FY2026 earnings at $5.95 EPS.

FMC (NYSE:FMC) last issued its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.20. FMC had a net margin of 34.93% and a return on equity of 7.68%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business earned $0.44 EPS. The firm’s revenue was up 8.5% on a year-over-year basis.

FMC has been the topic of several other reports. Redburn Atlantic raised shares of FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. Mizuho lifted their price objective on FMC from $64.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday. JPMorgan Chase & Co. increased their target price on FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. KeyCorp cut their price target on FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Royal Bank of Canada increased their price objective on shares of FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, FMC currently has a consensus rating of “Hold” and a consensus price target of $68.00.

FMC Price Performance

Shares of FMC stock opened at $63.15 on Monday. The stock’s fifty day simple moving average is $63.21 and its 200 day simple moving average is $60.92. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.48 and a quick ratio of 1.07. FMC has a one year low of $49.49 and a one year high of $68.72. The firm has a market cap of $7.88 billion, a price-to-earnings ratio of 5.43, a P/E/G ratio of 1.66 and a beta of 0.85.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Transcendent Capital Group LLC acquired a new stake in shares of FMC during the third quarter worth $578,000. CWA Asset Management Group LLC acquired a new position in FMC in the third quarter valued at about $920,000. Easterly Investment Partners LLC grew its position in shares of FMC by 21.3% during the 3rd quarter. Easterly Investment Partners LLC now owns 265,209 shares of the basic materials company’s stock worth $17,488,000 after buying an additional 46,485 shares during the period. ABLE Financial Group LLC increased its stake in shares of FMC by 17.7% in the 3rd quarter. ABLE Financial Group LLC now owns 4,763 shares of the basic materials company’s stock valued at $314,000 after acquiring an additional 717 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of FMC in the 3rd quarter valued at about $130,000. Institutional investors and hedge funds own 91.86% of the company’s stock.

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.