FMC Co. Expected to Earn Q3 2024 Earnings of $0.53 Per Share (NYSE:FMC)

FMC Co. (NYSE:FMC) – Investment analysts at KeyCorp issued their Q3 2024 earnings per share (EPS) estimates for shares of FMC in a research report issued on Sunday, October 6th. KeyCorp analyst A. Yefremov anticipates that the basic materials company will post earnings of $0.53 per share for the quarter. KeyCorp has a “Overweight” rating and a $79.00 price objective 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 has been the topic of a number of other research reports. Redburn Atlantic upgraded FMC from a “hold” rating to a “strong-buy” rating in a report on Friday, July 19th. Wells Fargo & Company reduced their target price on FMC from $68.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. JPMorgan Chase & Co. raised their price target on FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. BMO Capital Markets increased their price target on shares of FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Friday, August 2nd. Finally, Barclays lifted their price objective on FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, FMC presently has an average rating of “Hold” and a consensus price target of $68.47.

FMC Price Performance

FMC stock opened at $60.38 on Wednesday. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of 6.74, a PEG ratio of 1.57 and a beta of 0.85. The firm’s 50-day moving average price is $63.18 and its two-hundred day moving average price is $60.73. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.66. FMC has a 12-month low of $49.49 and a 12-month high of $68.72.

FMC (NYSE:FMC) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.55 by $0.08. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. FMC had a net margin of 33.97% and a return on equity of 7.52%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 earnings per share.

FMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a $0.58 dividend. The ex-dividend date is Monday, September 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.84%. FMC’s dividend payout ratio is currently 25.89%.

Hedge Funds Weigh In On FMC

Several large investors have recently modified their holdings of FMC. Cibc World Markets Corp raised its holdings in FMC by 133.2% in the fourth quarter. Cibc World Markets Corp now owns 16,058 shares of the basic materials company’s stock worth $1,012,000 after buying an additional 9,173 shares during the last quarter. Redwood Investment Management LLC purchased a new position in FMC in the 4th quarter worth approximately $2,251,000. V Square Quantitative Management LLC lifted its position in FMC by 252.2% in the 4th quarter. V Square Quantitative Management LLC now owns 10,372 shares of the basic materials company’s stock valued at $654,000 after acquiring an additional 7,427 shares in the last quarter. Speece Thorson Capital Group Inc. boosted its stake in FMC by 28.8% during the 4th quarter. Speece Thorson Capital Group Inc. now owns 234,614 shares of the basic materials company’s stock valued at $14,792,000 after purchasing an additional 52,439 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in FMC by 129.0% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 25,948 shares of the basic materials company’s stock valued at $1,636,000 after purchasing an additional 14,616 shares during the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

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.