FMC (NYSE:FMC) Releases FY 2024 Earnings Guidance

FMC (NYSE:FMC) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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.

FMC Trading Down 2.4 %

NYSE:FMC traded down $1.63 during mid-day trading on Thursday, hitting $64.99. The company had a trading volume of 1,552,411 shares, compared to its average volume of 1,700,039. FMC has a fifty-two week low of $49.49 and a fifty-two week high of $68.72. The business’s fifty day moving average is $63.25 and its two-hundred day moving average is $60.84. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.07 and a current ratio of 1.48. The firm has a market cap of $8.11 billion, a P/E ratio of 5.87, a P/E/G ratio of 1.59 and a beta of 0.85.

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

Analyst Upgrades and Downgrades

FMC has been the topic of several analyst reports. Barclays increased their target price on FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. KeyCorp decreased their price objective on FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. BMO Capital Markets increased their price objective on FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a report on Friday, August 2nd. Redburn Atlantic upgraded FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. lifted their target price on FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, FMC currently has a consensus rating of “Hold” and an average price target 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.