FMC (NYSE:FMC) Releases Q3 2022 Earnings Guidance

FMC (NYSE:FMC – Get Rating) issued an update on its third quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.00-$1.20 for the period, compared to the consensus estimate of $1.59. The company issued revenue guidance of $1.31 billion-$1.39 billion, compared to the consensus revenue estimate of $1.28 billion. FMC also updated its FY 2022 guidance to $7.00-$7.70 EPS.

FMC Stock Up 0.3 %

Shares of NYSE:FMC traded up $0.28 during trading on Friday, hitting $106.33. The company’s stock had a trading volume of 834,892 shares, compared to its average volume of 956,546. The company has a market capitalization of $13.39 billion, a PE ratio of 19.55, a PEG ratio of 1.32 and a beta of 0.84. FMC has a fifty-two week low of $87.27 and a fifty-two week high of $140.99. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.97 and a current ratio of 1.38. The stock’s 50-day moving average price is $108.99 and its two-hundred day moving average price is $118.18.

FMC (NYSE:FMC – Get Rating) last released its earnings results on Tuesday, August 2nd. The basic materials company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.89 by $0.04. FMC had a return on equity of 30.64% and a net margin of 12.80%. During the same quarter in the previous year, the company posted $1.81 earnings per share. As a group, sell-side analysts expect that FMC will post 7.5 EPS for the current year.

FMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Friday, September 30th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.12 annualized dividend and a dividend yield of 1.99%. FMC’s payout ratio is 38.97%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FMC. Redburn Partners lowered FMC from a buy rating to a neutral rating in a research report on Monday, June 13th. Mizuho dropped their target price on shares of FMC from $149.00 to $144.00 and set a buy rating on the stock in a report on Thursday. Credit Suisse Group decreased their price target on shares of FMC from $109.00 to $105.00 and set an underperform rating for the company in a report on Wednesday. UBS Group dropped their price objective on shares of FMC from $149.00 to $140.00 and set a buy rating on the stock in a research note on Wednesday, July 13th. Finally, StockNews.com downgraded FMC from a buy rating to a hold rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $130.85.

Insider Activity at FMC

In other FMC news, insider Nicholas Pfeiffer sold 1,000 shares of the business’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $119.78, for a total transaction of $119,780.00. Following the sale, the insider now directly owns 11,722 shares in the company, valued at approximately $1,404,061.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On FMC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in shares of FMC by 41.5% in the 1st quarter. Invesco Ltd. now owns 1,581,629 shares of the basic materials company’s stock worth $208,094,000 after purchasing an additional 463,542 shares during the last quarter. Eaton Vance Management boosted its holdings in FMC by 34.7% during the first quarter. Eaton Vance Management now owns 1,236,301 shares of the basic materials company’s stock worth $162,660,000 after buying an additional 318,212 shares in the last quarter. Vanguard Group Inc. grew its position in FMC by 1.9% in the first quarter. Vanguard Group Inc. now owns 14,067,888 shares of the basic materials company’s stock worth $1,850,913,000 after buying an additional 258,552 shares during the last quarter. National Pension Service increased its holdings in shares of FMC by 872,245.0% in the first quarter. National Pension Service now owns 174,469 shares of the basic materials company’s stock valued at $22,955,000 after buying an additional 174,449 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of FMC by 52.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 400,078 shares of the basic materials company’s stock valued at $52,639,000 after acquiring an additional 137,037 shares during the last quarter. 88.44% of the stock is owned by institutional investors.

About FMC

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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 include 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.