FMC (NYSE:FMC – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.16-3.52 for the period, compared to the consensus earnings per share estimate of $3.26. The company issued revenue guidance of $4.33-4.44 billion, compared to the consensus revenue estimate of $4.36 billion. FMC also updated its FY 2024 guidance to 3.160-3.520 EPS.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on FMC shares. KeyCorp cut their price objective on FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on shares of FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Citigroup began coverage on shares of FMC in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $67.00 target price on the stock. Barclays upped their price target on shares of FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Finally, Redburn Atlantic upgraded FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has assigned 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.
FMC Price Performance
FMC (NYSE:FMC – Get Free Report) last issued its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.20. The business had revenue of $1.07 billion during 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%. During the same period in the prior year, the firm posted $0.44 EPS. FMC’s quarterly revenue was up 8.5% compared to the same quarter last year. Sell-side analysts expect 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.
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