FMC (NYSE:FMC) Releases FY24 Earnings Guidance

FMC (NYSE:FMC) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $3.16-3.52 for the period, compared to the consensus 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 Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price target on shares of FMC from $68.00 to $62.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. KeyCorp dropped their price objective on FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Redburn Atlantic upgraded FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. Finally, Citigroup initiated coverage on FMC in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $67.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $67.00.

FMC Price Performance

Shares of FMC stock traded down $1.49 during trading on Friday, reaching $63.50. The company’s stock had a trading volume of 422,587 shares, compared to its average volume of 1,694,015. The business has a 50 day moving average price of $63.25 and a 200-day moving average price of $60.84. The company has a market capitalization of $7.93 billion, a P/E ratio of 5.59, a price-to-earnings-growth ratio of 1.71 and a beta of 0.85. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.65. FMC has a 12-month low of $49.49 and a 12-month high of $68.72.

FMC (NYSE:FMC) last released its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.20. FMC had a net margin of 34.93% and a return on equity of 7.68%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts anticipate that FMC will post 3.3 EPS for the current year.

FMC Company Profile

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.