FMC Corp (NYSE:FMC) – Gabelli reduced their FY2018 earnings per share estimates for FMC in a research note issued on Wednesday, November 7th. Gabelli analyst R. Morbelli now expects that the basic materials company will post earnings per share of $5.94 for the year, down from their prior forecast of $6.05. Gabelli also issued estimates for FMC’s FY2019 earnings at $6.65 EPS, FY2020 earnings at $7.40 EPS, FY2021 earnings at $8.25 EPS and FY2022 earnings at $9.15 EPS.
A number of other equities analysts have also weighed in on FMC. Loop Capital assumed coverage on FMC in a research report on Friday. They issued a “buy” rating and a $118.00 target price for the company. ValuEngine raised FMC from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Zacks Investment Research lowered FMC from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. Citigroup assumed coverage on FMC in a research report on Monday, November 5th. They issued a “buy” rating and a $92.00 target price for the company. Finally, Credit Suisse Group assumed coverage on FMC in a research report on Monday, November 5th. They issued an “outperform” rating and a $103.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $101.42.
Shares of NYSE:FMC opened at $83.57 on Friday. FMC has a fifty-two week low of $72.73 and a fifty-two week high of $98.70. The company has a quick ratio of 1.24, a current ratio of 1.54 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $11.26 billion, a price-to-earnings ratio of 30.84, a price-to-earnings-growth ratio of 0.75 and a beta of 1.60.
FMC (NYSE:FMC) last posted its quarterly earnings results on Monday, November 5th. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.06. FMC had a return on equity of 26.26% and a net margin of 22.28%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm earned $0.70 EPS. FMC’s quarterly revenue was up 60.4% compared to the same quarter last year.
In other FMC news, COO Mark Douglas purchased 4,250 shares of FMC stock in a transaction dated Tuesday, August 14th. The stock was purchased at an average price of $86.13 per share, with a total value of $366,052.50. Following the transaction, the chief operating officer now directly owns 59,943 shares of the company’s stock, valued at $5,162,890.59. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Dirk A. Kempthorne purchased 1,173 shares of FMC stock in a transaction dated Tuesday, August 28th. The shares were acquired at an average cost of $86.12 per share, with a total value of $101,018.76. Following the transaction, the director now directly owns 35,783 shares in the company, valued at $3,081,631.96. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. North Star Investment Management Corp. purchased a new stake in shares of FMC during the 2nd quarter valued at about $116,000. Thompson Davis & CO. Inc. increased its position in shares of FMC by 307.1% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,425 shares of the basic materials company’s stock valued at $127,000 after purchasing an additional 1,075 shares during the last quarter. SRS Capital Advisors Inc. bought a new position in shares of FMC during the 3rd quarter valued at approximately $125,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of FMC by 221.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,525 shares of the basic materials company’s stock valued at $136,000 after acquiring an additional 1,050 shares during the period. Finally, Piedmont Investment Advisors LLC bought a new position in shares of FMC during the 2nd quarter valued at approximately $139,000. 89.77% of the stock is owned by hedge funds and other institutional investors.
FMC Company Profile
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.
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