FMC Corp. (NYSE:FMC) – Jefferies Group boosted their Q2 2017 earnings per share estimates for FMC Corp. in a research note issued on Thursday. Jefferies Group analyst L. Alexander now expects that the firm will post earnings of $0.69 per share for the quarter, up from their prior forecast of $0.66. Jefferies Group currently has a “Buy” rating and a $58.00 price target on the stock. Jefferies Group also issued estimates for FMC Corp.’s FY2018 earnings at $3.20 EPS.
Several other research firms have also recently commented on FMC. Citigroup Inc. boosted their price objective on shares of FMC Corp. from $48.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, July 15th. Zacks Investment Research lowered shares of FMC Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Credit Suisse Group AG reiterated a “hold” rating and issued a $44.00 price target on shares of FMC Corp. in a research note on Wednesday, August 3rd. Susquehanna lifted their price target on shares of FMC Corp. from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, August 26th. Finally, Nomura reiterated a “hold” rating on shares of FMC Corp. in a research note on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. FMC Corp. currently has a consensus rating of “Hold” and an average price target of $44.07.
Shares of FMC Corp. (NYSE:FMC) opened at 47.22 on Monday. The company’s market cap is $6.32 billion. The company has a 50 day moving average of $47.39 and a 200 day moving average of $46.06. FMC Corp. has a 1-year low of $32.24 and a 1-year high of $50.57.
FMC Corp. (NYSE:FMC) last released its earnings results on Tuesday, August 2nd. The company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.02. FMC Corp. had a negative net margin of 2.79% and a positive return on equity of 16.35%. The business earned $810.30 million during the quarter, compared to analysts’ expectations of $889.70 million. During the same quarter last year, the company earned $0.70 earnings per share. The firm’s revenue was down 8.7% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Friday, September 30th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Wednesday, September 28th. FMC Corp.’s payout ratio is -94.29%.
Several hedge funds have recently made changes to their positions in FMC. State Street Corp increased its stake in shares of FMC Corp. by 2.1% in the first quarter. State Street Corp now owns 5,665,404 shares of the company’s stock valued at $228,708,000 after buying an additional 114,542 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of FMC Corp. by 78.1% in the first quarter. Canada Pension Plan Investment Board now owns 197,510 shares of the company’s stock valued at $7,973,000 after buying an additional 86,600 shares during the last quarter. M&T Bank Corp bought a new stake in shares of FMC Corp. during the first quarter valued at approximately $420,000. NN Investment Partners Holdings N.V. bought a new stake in shares of FMC Corp. during the first quarter valued at approximately $963,000. Finally, Sentry Investment Management LLC increased its stake in shares of FMC Corp. by 22.3% in the first quarter. Sentry Investment Management LLC now owns 9,629 shares of the company’s stock valued at $389,000 after buying an additional 1,757 shares during the last quarter. 94.55% of the stock is owned by institutional investors and hedge funds.
FMC Corp. Company Profile
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates through three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. The Company’s FMC Agricultural Solutions segment develops, markets and sells over three classes of crop protection chemicals, including insecticides, herbicides and fungicides.
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