Equities Analysts Set Expectations for FMC Co.’s Q3 2024 Earnings (NYSE:FMC)

FMC Co. (NYSE:FMC) – Equities researchers at KeyCorp issued their Q3 2024 earnings per share estimates for FMC in a research report issued on Sunday, October 6th. KeyCorp analyst A. Yefremov forecasts that the basic materials company will earn $0.53 per share for the quarter. KeyCorp has a “Overweight” rating and a $79.00 price target on the stock. The consensus estimate for FMC’s current full-year earnings is $3.41 per share. KeyCorp also issued estimates for FMC’s Q4 2024 earnings at $1.81 EPS, FY2024 earnings at $3.34 EPS, Q1 2025 earnings at $0.92 EPS and FY2025 earnings at $4.78 EPS.

FMC (NYSE:FMC) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.55 by $0.08. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. FMC had a net margin of 33.97% and a return on equity of 7.52%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 EPS.

FMC has been the subject of several other reports. Redburn Atlantic raised shares of FMC from a “hold” rating to a “strong-buy” rating in a report on Friday, July 19th. JPMorgan Chase & Co. raised their price objective on shares of FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Barclays lifted their target price on shares of FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. BMO Capital Markets increased their price target on FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company lowered their price objective on FMC from $68.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, FMC currently has an average rating of “Hold” and a consensus target price of $68.47.

FMC Stock Performance

Shares of FMC opened at $61.46 on Wednesday. The business has a 50-day simple moving average of $63.26 and a two-hundred day simple moving average of $60.73. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. FMC has a 52 week low of $49.49 and a 52 week high of $68.72. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 6.86, a PEG ratio of 1.57 and a beta of 0.85.

Institutional Trading of FMC

Large investors have recently made changes to their positions in the business. Legacy Wealth Asset Management LLC lifted its holdings in shares of FMC by 4.6% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 4,007 shares of the basic materials company’s stock valued at $255,000 after acquiring an additional 175 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its holdings in shares of FMC by 1.5% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 12,581 shares of the basic materials company’s stock worth $801,000 after purchasing an additional 183 shares during the period. Wahed Invest LLC increased its position in shares of FMC by 9.5% during the 4th quarter. Wahed Invest LLC now owns 2,131 shares of the basic materials company’s stock valued at $134,000 after purchasing an additional 184 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in FMC by 27.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 866 shares of the basic materials company’s stock valued at $55,000 after buying an additional 188 shares during the period. Finally, Dark Forest Capital Management LP lifted its position in FMC by 3.1% in the second quarter. Dark Forest Capital Management LP now owns 6,465 shares of the basic materials company’s stock worth $372,000 after buying an additional 192 shares during the last quarter. 91.86% of the stock is currently owned by institutional investors.

FMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be given a dividend of $0.58 per share. The ex-dividend date is Monday, September 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.77%. FMC’s dividend payout ratio is currently 25.89%.

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.