FMC (NYSE:FMC) Issues Q2 2024 Earnings Guidance

FMC (NYSE:FMC) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.430-0.720 for the period, compared to the consensus EPS estimate of 0.600. The company issued revenue guidance of $1.0 billion-$1.2 billion, compared to the consensus revenue estimate of $1.1 billion.

FMC Stock Up 0.5 %

NYSE:FMC opened at $57.08 on Friday. 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 stock’s fifty day moving average is $59.91 and its two-hundred day moving average is $59.25. FMC has a 52 week low of $49.49 and a 52 week high of $106.87. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of 6.37, a price-to-earnings-growth ratio of 1.17 and a beta of 0.88.

FMC (NYSE:FMC) last announced its quarterly earnings data on Monday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. The business had revenue of $918.00 million for the quarter, compared to analysts’ expectations of $1.01 billion. FMC had a return on equity of 7.68% and a net margin of 27.65%. The company’s revenue for the quarter was down 31.7% compared to the same quarter last year. During the same period last year, the firm earned $1.77 earnings per share. Research analysts anticipate that FMC will post 3.6 EPS for the current year.

FMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, June 28th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Friday, June 28th. FMC’s dividend payout ratio (DPR) is presently 25.89%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their target price on FMC from $53.00 to $50.00 and set a neutral rating on the stock in a report on Monday, May 13th. Wells Fargo & Company raised their price target on FMC from $65.00 to $68.00 and gave the stock an equal weight rating in a report on Wednesday, May 8th. Mizuho lifted their price target on shares of FMC from $55.00 to $57.00 and gave the company a neutral rating in a research report on Tuesday, May 7th. Loop Capital lifted their price target on shares of FMC from $55.00 to $65.00 and gave the company a hold rating in a research report on Tuesday, March 19th. Finally, Royal Bank of Canada lifted their price target on shares of FMC from $65.00 to $81.00 and gave the company an outperform rating in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, FMC has an average rating of Hold and a consensus target price of $70.06.

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.