FMC (NYSE:FMC) Issues Earnings Results, Beats Expectations By $0.03 EPS

FMC (NYSE:FMC) released its quarterly earnings results on Tuesday. The basic materials company reported $1.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.03, reports. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.20 billion. FMC had a net margin of 9.57% and a return on equity of 27.53%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $1.78 EPS. FMC updated its Q3 guidance to $0.75-0.85 EPS and its FY19 guidance to $5.68-5.88 EPS.

Shares of FMC stock traded up $1.62 during trading hours on Wednesday, reaching $86.42. The company’s stock had a trading volume of 2,128,585 shares, compared to its average volume of 1,044,479. The business’s 50 day moving average price is $83.14. The company has a current ratio of 1.26, a quick ratio of 0.92 and a debt-to-equity ratio of 0.77. FMC has a one year low of $69.36 and a one year high of $92.76. The stock has a market capitalization of $11.16 billion, a PE ratio of 13.74, a P/E/G ratio of 1.38 and a beta of 1.51.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.85%. FMC’s payout ratio is currently 25.44%.

A number of research firms recently weighed in on FMC. Royal Bank of Canada lowered shares of FMC from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $100.00 to $87.00 in a report on Thursday, April 18th. They noted that the move was a valuation call. KeyCorp reduced their price objective on shares of FMC from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Citigroup reiterated a “buy” rating and set a $93.00 price objective (up from $91.00) on shares of FMC in a research note on Thursday, June 13th. Loop Capital set a $102.00 price objective on shares of FMC and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Zacks Investment Research upgraded shares of FMC from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research note on Monday, June 3rd. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $93.25.

In other news, CEO Pierre R. Brondeau sold 33,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $73.09, for a total value of $2,411,970.00. Following the transaction, the chief executive officer now directly owns 284,814 shares in the company, valued at approximately $20,817,055.26. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicholas Pfeiffer sold 2,446 shares of FMC stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $80.67, for a total transaction of $197,318.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,946 shares of company stock worth $3,999,009. Insiders own 1.50% of the company’s stock.

FMC Company Profile

FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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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Earnings History for FMC (NYSE:FMC)

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