Royal Bank Of Canada Forecasts Strong Price Appreciation for FMC (NYSE:FMC) Stock

FMC (NYSE:FMC) had its price objective increased by equities research analysts at Royal Bank Of Canada from $40.00 to $47.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 10.80% from the stock’s previous close.

FMC has been the subject of several other reports. Wells Fargo & Company raised FMC from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $41.00 to $50.00 in a research report on Monday, June 23rd. UBS Group upped their price target on FMC from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday. Mizuho upgraded shares of FMC from a “neutral” rating to an “outperform” rating and set a $49.00 price objective on the stock in a report on Friday, April 25th. Wall Street Zen upgraded shares of FMC from a “sell” rating to a “hold” rating in a report on Saturday, June 14th. Finally, The Goldman Sachs Group initiated coverage on shares of FMC in a research note on Thursday, March 13th. They issued a “buy” rating and a $51.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $50.54.

FMC Stock Down 0.6%

FMC stock opened at $42.42 on Thursday. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.29 and a beta of 0.77. The company’s 50 day simple moving average is $40.91 and its 200 day simple moving average is $42.37. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.54 and a quick ratio of 1.12. FMC has a fifty-two week low of $32.83 and a fifty-two week high of $68.55.

FMC (NYSE:FMC) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.10. FMC had a net margin of 7.97% and a return on equity of 9.12%. The company had revenue of $791.40 million for the quarter, compared to analysts’ expectations of $783.70 million. During the same period last year, the firm posted $0.36 earnings per share. The business’s quarterly revenue was down 13.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that FMC will post 3.48 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FMC. AQR Capital Management LLC raised its holdings in shares of FMC by 1,199.9% during the 1st quarter. AQR Capital Management LLC now owns 3,621,496 shares of the basic materials company’s stock worth $151,071,000 after buying an additional 3,342,888 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in FMC by 286.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,494,377 shares of the basic materials company’s stock valued at $189,618,000 after acquiring an additional 3,329,974 shares during the last quarter. Norges Bank bought a new position in FMC in the fourth quarter valued at about $49,888,000. Invesco Ltd. raised its stake in FMC by 37.8% during the fourth quarter. Invesco Ltd. now owns 3,559,107 shares of the basic materials company’s stock worth $173,008,000 after acquiring an additional 977,110 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of FMC by 44.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,286,177 shares of the basic materials company’s stock worth $111,131,000 after acquiring an additional 707,727 shares during the last quarter. Institutional investors own 91.86% 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 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.