FMC (NYSE:FMC) Releases FY24 Earnings Guidance

FMC (NYSE:FMC) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.16-3.52 for the period, compared to the consensus earnings per share estimate of $3.26. The company issued revenue guidance of $4.33-4.44 billion, compared to the consensus revenue estimate of $4.36 billion. FMC also updated its FY 2024 guidance to 3.160-3.520 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Citigroup started coverage on shares of FMC in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $67.00 price objective for the company. Redburn Atlantic upgraded shares of FMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 19th. KeyCorp lowered their price objective on FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. BMO Capital Markets increased their target price on FMC from $60.00 to $65.00 and gave the company a “market perform” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their target price on FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, FMC presently has an average rating of “Hold” and an average price target of $67.00.

FMC Price Performance

Shares of NYSE:FMC traded down $1.63 during midday trading on Thursday, hitting $64.99. The company had a trading volume of 1,552,411 shares, compared to its average volume of 1,700,039. FMC has a twelve month low of $49.49 and a twelve month high of $68.72. The stock has a market cap of $8.11 billion, a price-to-earnings ratio of 5.87, a price-to-earnings-growth ratio of 1.59 and a beta of 0.85. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 1.07. The business’s 50-day simple moving average is $63.25 and its 200-day simple moving average is $60.84.

FMC (NYSE:FMC) last issued its 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. FMC had a return on equity of 7.52% and a net margin of 33.97%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the business earned $0.44 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, research analysts predict that FMC will post 3.31 earnings per share for the current year.

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.