FMC (NYSE:FMC) Posts Quarterly Earnings Results

FMC (NYSE:FMC) released its earnings results on Tuesday. The basic materials company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.20, Briefing.com reports. FMC had a net margin of 33.97% and a return on equity of 7.52%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm posted $0.44 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year.

FMC Stock Performance

Shares of NYSE:FMC traded up $6.59 during midday trading on Wednesday, reaching $66.77. The company had a trading volume of 1,137,594 shares, compared to its average volume of 1,690,564. FMC has a 52-week low of $49.49 and a 52-week high of $68.72. The company’s 50 day moving average price is $63.18 and its 200 day moving average price is $60.77. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.66. The stock has a market cap of $8.33 billion, a P/E ratio of 5.97, a P/E/G ratio of 1.59 and a beta of 0.85.

Wall Street Analyst Weigh In

Several research firms have weighed in on FMC. JPMorgan Chase & Co. lifted their target price on FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. KeyCorp cut their price objective on shares of FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. BMO Capital Markets lifted their price objective 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. Citigroup began coverage on FMC in a report on Wednesday, October 23rd. They set a “neutral” rating and a $67.00 target price on the stock. Finally, Redburn Atlantic raised shares of FMC from a “hold” rating to a “strong-buy” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $67.00.

About FMC

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.