What is Seaport Res Ptn’s Forecast for FMC FY2024 Earnings?

FMC Co. (NYSE:FMC) – Investment analysts at Seaport Res Ptn dropped their FY2024 EPS estimates for shares of FMC in a research note issued to investors on Wednesday, January 22nd. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will earn $3.28 per share for the year, down from their previous estimate 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 announced its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.20. The firm had revenue of $1.07 billion during 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 company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 earnings per share.

Several other equities research analysts have also recently issued reports on FMC. Bank of America upgraded shares of FMC from an “underperform” rating to a “neutral” rating and reduced their price objective for the company from $63.00 to $61.00 in a research report on Tuesday, January 14th. KeyCorp reduced their price target on shares of FMC from $79.00 to $69.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Citigroup reduced their price objective on FMC from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Mizuho lowered their target price on FMC from $70.00 to $55.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Barclays upgraded shares of FMC from an “equal weight” rating to an “overweight” rating and set a $65.00 price target on the stock in a research report on Tuesday, January 21st. Ten equities research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.25.

FMC Stock Down 0.1 %

NYSE FMC opened at $55.59 on Friday. FMC has a 12 month low of $47.71 and a 12 month high of $68.72. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65. The stock has a market cap of $6.94 billion, a PE ratio of 4.78, a P/E/G ratio of 1.15 and a beta of 0.83. The stock’s 50 day moving average is $53.75 and its 200 day moving average is $58.97.

FMC Announces Dividend

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

Insider Activity at FMC

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

Institutional Trading of FMC

Several institutional investors and hedge funds have recently made changes to their positions in FMC. American Century Companies Inc. boosted its holdings in shares of FMC by 4.4% in the second quarter. American Century Companies Inc. now owns 37,829 shares of the basic materials company’s stock valued at $2,177,000 after purchasing an additional 1,589 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of FMC by 9.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 721,879 shares of the basic materials company’s stock worth $41,543,000 after buying an additional 64,055 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in shares of FMC by 10.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,382 shares of the basic materials company’s stock worth $655,000 after buying an additional 1,092 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of FMC by 42.7% during the 2nd quarter. Pacer Advisors Inc. now owns 20,424 shares of the basic materials company’s stock worth $1,175,000 after buying an additional 6,110 shares in the last quarter. Finally, Ensign Peak Advisors Inc lifted its stake in FMC by 2.8% in the second quarter. Ensign Peak Advisors Inc now owns 41,265 shares of the basic materials company’s stock worth $2,375,000 after acquiring an additional 1,121 shares during the period. 91.86% of the stock is currently owned by institutional investors.

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.