FMC (NYSE:FMC) Updates FY 2024 Earnings Guidance

FMC (NYSE:FMC) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 3.160-3.520 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

FMC has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their price objective on shares of FMC from $68.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Barclays raised their target price 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 target price 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. Redburn Atlantic upgraded shares of FMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 19th. Finally, KeyCorp cut their price target on shares of FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $67.00.

FMC Price Performance

Shares of FMC stock traded down $1.63 during trading hours on Thursday, hitting $64.99. 1,552,411 shares of the company’s stock were exchanged, compared to its average volume of 1,700,039. The stock’s 50-day moving average is $63.25 and its 200-day moving average is $60.84. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 1.07. The stock has a market cap of $8.11 billion, a price-to-earnings ratio of 5.87, a price-to-earnings-growth ratio of 1.59 and a beta of 0.85. FMC has a 52 week low of $49.49 and a 52 week high of $68.72.

FMC (NYSE:FMC) last announced its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.49 by $0.20. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. FMC had a return on equity of 7.52% and a net margin of 33.97%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 earnings per share. As a group, research analysts forecast that FMC will post 3.31 EPS for the current year.

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.