FMC (NYSE:FMC) Updates FY 2024 Earnings Guidance

by · The Markets Daily

FMC (NYSE:FMC – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 3.160-3.520 for the period, compared to the consensus earnings per share estimate of 3.280. The company issued revenue guidance of $4.3 billion-$4.4 billion, compared to the consensus revenue estimate of $4.4 billion. FMC also updated its FY24 guidance to $3.16-3.52 EPS.

Analysts Set New Price Targets

A number of brokerages have issued reports on FMC. Redburn Atlantic raised shares of FMC from a “hold” rating to a “strong-buy” rating in a report on Friday, July 19th. JPMorgan Chase & Co. raised their price target on shares of FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Barclays raised their price target on shares of FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. BMO Capital Markets raised their price target on shares of FMC from $60.00 to $65.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. Finally, KeyCorp dropped their price target on shares of FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $67.00.

Read Our Latest Analysis on FMC

FMC Price Performance

NYSE:FMC traded up $6.44 during trading hours on Wednesday, reaching $66.62. 3,272,503 shares of the company’s stock were exchanged, compared to its average volume of 1,700,741. The company has a market capitalization of $8.32 billion, a P/E ratio of 6.02, a price-to-earnings-growth ratio of 1.59 and a beta of 0.85. FMC has a 12 month low of $49.49 and a 12 month high of $68.72. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. The business’s 50-day simple moving average is $63.23 and its two-hundred day simple moving average is $60.81.

FMC (NYSE:FMC – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.20. FMC had a net margin of 33.97% and a return on equity of 7.52%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business posted $0.44 EPS. The company’s revenue was up 8.5% on a year-over-year basis. Sell-side analysts expect that FMC will post 3.31 EPS for the current fiscal year.

About FMC

(Get Free Report)

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.

Featured Articles