FMC (NYSE:FMC) Price Target Raised to $70.00

FMC (NYSE:FMC) had its target price increased by Mizuho from $64.00 to $70.00 in a research note released on Friday morning, Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Other research analysts have also recently issued research reports about the stock. KeyCorp decreased 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. JPMorgan Chase & Co. boosted their price target on FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Redburn Atlantic upgraded FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. Citigroup started coverage on shares of FMC in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $67.00 target price on the stock. Finally, Barclays lifted their price target on shares of FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, FMC presently has an average rating of “Hold” and a consensus target price of $68.00.

FMC Price Performance

Shares of NYSE:FMC opened at $63.15 on Friday. The firm has a market capitalization of $7.88 billion, a PE ratio of 5.43, a PEG ratio of 1.66 and a beta of 0.85. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.65. FMC has a 1-year low of $49.49 and a 1-year high of $68.72. The business’s 50 day moving average is $63.21 and its 200-day moving average is $60.92.

FMC (NYSE:FMC) last posted its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.20. FMC had a net margin of 34.93% and a return on equity of 7.68%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company earned $0.44 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. Sell-side analysts predict that FMC will post 3.3 earnings per share for the current year.

Institutional Trading of FMC

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of FMC by 13.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,422 shares of the basic materials company’s stock worth $855,000 after acquiring an additional 1,583 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in FMC by 32.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,467 shares of the basic materials company’s stock worth $539,000 after purchasing an additional 2,084 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in FMC by 15.9% during the 1st quarter. Commonwealth Equity Services LLC now owns 26,119 shares of the basic materials company’s stock valued at $1,664,000 after purchasing an additional 3,575 shares during the period. Norden Group LLC bought a new position in shares of FMC in the 1st quarter valued at about $313,000. Finally, Diversify Advisory Services LLC acquired a new stake in shares of FMC during the 1st quarter worth approximately $493,000. Institutional investors and hedge funds 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.