Seaport Res Ptn Has Negative Outlook of FMC FY2024 Earnings

FMC Co. (NYSE:FMC) – Research analysts at Seaport Res Ptn lowered their FY2024 earnings per share (EPS) estimates for shares of FMC in a note issued to investors on Wednesday, January 22nd. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will post earnings per share of $3.28 for the year, down from their prior forecast of $3.35. The consensus estimate for FMC’s current full-year earnings is $3.34 per share. Seaport Res Ptn also issued estimates for FMC’s FY2025 earnings at $4.57 EPS.

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

A number of other research analysts also recently commented on the company. Bank of America raised FMC from an “underperform” rating to a “neutral” rating and reduced their target price for the stock from $63.00 to $61.00 in a report on Tuesday, January 14th. UBS Group decreased their price objective on shares of FMC from $75.00 to $66.00 and set a “buy” rating for the company in a report on Friday, December 20th. Mizuho dropped their target price on shares of FMC from $70.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada lifted their price target on shares of FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Citigroup cut their target price on shares of FMC from $70.00 to $55.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Ten analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $63.25.

FMC Stock Performance

Shares of FMC stock opened at $55.70 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 1.48. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of 4.79, a PEG ratio of 1.15 and a beta of 0.83. FMC has a one year low of $47.71 and a one year high of $68.72. The company’s 50-day simple moving average is $53.73 and its 200-day simple moving average is $58.95.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Caprock Group LLC acquired a new stake in FMC in the fourth quarter worth approximately $208,000. Kempner Capital Management Inc. lifted its holdings in shares of FMC by 188.1% in the fourth quarter. Kempner Capital Management Inc. now owns 61,362 shares of the basic materials company’s stock valued at $2,983,000 after buying an additional 40,060 shares during the period. Washington Capital Management Inc. boosted its stake in FMC by 77.8% during the fourth quarter. Washington Capital Management Inc. now owns 9,600 shares of the basic materials company’s stock valued at $467,000 after buying an additional 4,200 shares in the last quarter. tru Independence LLC grew its holdings in FMC by 28.9% during the fourth quarter. tru Independence LLC now owns 104,090 shares of the basic materials company’s stock worth $5,060,000 after acquiring an additional 23,360 shares during the period. Finally, Pacer Advisors Inc. raised its position in FMC by 77.0% in the fourth quarter. Pacer Advisors Inc. now owns 34,834 shares of the basic materials company’s stock worth $1,693,000 after acquiring an additional 15,152 shares in the last quarter. 91.86% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other FMC news, VP Jacqueline Scanlan sold 4,529 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.67, for a total transaction of $270,245.43. Following the transaction, the vice president now owns 28,649 shares of the company’s stock, valued at approximately $1,709,485.83. This trade represents a 13.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.85% of the stock is currently owned by insiders.

FMC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 4.17%. The ex-dividend date was Tuesday, December 31st. FMC’s payout ratio is currently 19.97%.

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.