FMC Corporation's FY2024 Earnings Estimate Increased by Seaport Res Ptn

On October 30th, analysts at Seaport Res Ptn issued an update regarding their earnings estimates for FMC Corporation (NYSE:FMC – Free Report). The firm has increased its forecast for FY2024 earnings per share (EPS) from $3.30 to $3.35. This new estimate aligns with the current consensus, which also stands at $3.35 per share. Additionally, the analysts provided projections for FMC's upcoming quarters, estimating $1.05 EPS for Q1 2025, $1.13 EPS for Q2 2025, and earnings of $5.95 per share for FY2026.

FMC recently reported its quarterly earnings on October 29th, showcasing an EPS of $0.69, exceeding analysts' expectations of $0.49 by a notable $0.20. The company's total revenue for the quarter reached $1.07 billion, surpassing the forecast of $1.04 billion. FMC also maintained a robust net margin of 34.93% and a return on equity of 7.68%. Notably, the firm achieved an 8.5% revenue increase compared to the same quarter last year, during which it posted earnings of $0.44 per share.

Various research reports have recently addressed FMC’s stock performance. JPMorgan Chase & Co. raised their price target for FMC from $50.00 to $59.00 while maintaining a "neutral" rating as of August 12th. In contrast, Barclays upgraded their target from $62.00 to $65.00, also assigning an "equal weight" rating on August 5th. Furthermore, BMO Capital Markets adjusted their price target from $60.00 to $65.00, marking a "market perform" rating on August 2nd. Redburn Atlantic took a more aggressive stance by upgrading FMC from a “hold” to a “strong-buy” on July 19th. However, KeyCorp lowered their price target from $81.00 to $79.00, keeping an “overweight” rating on the stock. The overall analyst sentiment shows that one analyst rates the stock as a sell, ten as hold, four as buy, and one as strong buy. MarketBeat indicates that the average rating for FMC is "Hold," along with an average price target of $68.00.

Recent Price Performance of FMC

As of Monday, FMC's stock opened at $63.63. The company holds a market capitalization of $7.94 billion, a P/E ratio of 5.43, and a price-to-earnings-growth ratio of 1.66. With a beta of 0.85, the stock's 50-day moving average is $63.17, while the two-hundred day moving average is $61.00. Over the past year, FMC's shares reached a low of $49.49 and a high of $68.72. The company has a debt-to-equity ratio of 0.65 and current and quick ratios of 1.48 and 1.09, respectively.

Institutional Investor Activity

Recent changes among institutional investors regarding FMC's stock holdings are noteworthy. Mather Group LLC significantly boosted its shareholding in the third quarter by 250.6%, now owning 554 shares valued at $37,000. LRI Investments LLC took a new position in FMC during the first quarter, valued at approximately $41,000. Additionally, UMB Bank n.a. increased its holdings in the second quarter by 56.9%, owning 678 shares worth about $39,000 after acquiring another 246 shares. Further, Sentry Investment Management LLC entered a new stake in FMC in the first quarter, estimated at about $45,000. Lastly, EntryPoint Capital LLC raised its stake by an astonishing 1,282.3% in the first quarter, owning 857 shares valued at $55,000 after purchasing 795 additional shares. Overall, institutional investors hold 91.86% of FMC's shares.

About FMC Corporation

FMC Corporation specializes in agricultural sciences, focusing on crop protection, plant health, and professional pest and turf management products. The company develops, markets, and sells various crop protection chemicals, including insecticides, herbicides, and fungicides, alongside biologicals, crop nutrition, and seed treatment solutions. These products enhance agricultural yield and quality by addressing a range of pests, weeds, and diseases, catering to both agricultural and non-agricultural markets.

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