FMC (NYSE:FMC) Updates Q4 2022 Earnings Guidance

FMC (NYSE:FMCGet Rating) updated its fourth quarter 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.18-$2.70 for the period. The company issued revenue guidance of $1.39 billion-$1.51 billion. FMC also updated its FY 2022 guidance to $7.00-$7.70 EPS.

Analyst Ratings Changes

Several research analysts have commented on the company. Credit Suisse Group cut their target price on FMC from $109.00 to $105.00 and set an underperform rating for the company in a research note on Wednesday. Redburn Partners downgraded FMC from a buy rating to a neutral rating in a research note on Monday, June 13th. Wells Fargo & Company cut their target price on FMC from $150.00 to $144.00 in a research note on Wednesday, May 4th. Mizuho cut their target price on FMC from $149.00 to $144.00 and set a buy rating for the company in a research note on Thursday. Finally, StockNews.com downgraded FMC from a buy rating to a hold rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, FMC currently has a consensus rating of Moderate Buy and an average price target of $130.85.

FMC Price Performance

NYSE:FMC traded up $0.28 during mid-day trading on Friday, reaching $106.33. The stock had a trading volume of 834,892 shares, compared to its average volume of 956,546. The firm has a 50 day moving average price of $108.99 and a two-hundred day moving average price of $118.18. The stock has a market capitalization of $13.39 billion, a P/E ratio of 19.55, a P/E/G ratio of 1.32 and a beta of 0.84. FMC has a one year low of $87.27 and a one year high of $140.99. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.97 and a current ratio of 1.38.

FMC (NYSE:FMCGet Rating) last released its earnings results on Tuesday, August 2nd. The basic materials company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04. FMC had a return on equity of 30.64% and a net margin of 12.80%. During the same period in the prior year, the business posted $1.81 earnings per share. As a group, analysts expect that FMC will post 7.5 earnings per share for the current year.

FMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Friday, September 30th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.12 dividend on an annualized basis and a yield of 1.99%. FMC’s dividend payout ratio (DPR) is currently 38.97%.

Insiders Place Their Bets

In other FMC news, insider Nicholas Pfeiffer sold 1,000 shares of FMC stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $119.78, for a total value of $119,780.00. Following the transaction, the insider now directly owns 11,722 shares of the company’s stock, valued at approximately $1,404,061.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On FMC

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of FMC by 1.9% during the first quarter. Vanguard Group Inc. now owns 14,067,888 shares of the basic materials company’s stock valued at $1,850,913,000 after buying an additional 258,552 shares during the period. Invesco Ltd. boosted its position in shares of FMC by 41.5% during the first quarter. Invesco Ltd. now owns 1,581,629 shares of the basic materials company’s stock valued at $208,094,000 after purchasing an additional 463,542 shares in the last quarter. Eaton Vance Management boosted its position in shares of FMC by 34.7% during the first quarter. Eaton Vance Management now owns 1,236,301 shares of the basic materials company’s stock valued at $162,660,000 after purchasing an additional 318,212 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of FMC by 3.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 914,433 shares of the basic materials company’s stock valued at $120,312,000 after purchasing an additional 27,890 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of FMC by 52.1% during the first quarter. Goldman Sachs Group Inc. now owns 400,078 shares of the basic materials company’s stock valued at $52,639,000 after purchasing an additional 137,037 shares in the last quarter. 88.44% of the stock is owned by hedge funds and other institutional investors.

About FMC

(Get Rating)

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 include 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.

Featured Stories

Earnings History and Estimates for FMC (NYSE:FMC)

Receive News & Ratings for FMC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FMC and related companies with MarketBeat.com's FREE daily email newsletter.