Q3 2022 EPS Estimates for FMC Co. (NYSE:FMC) Reduced by Analyst

FMC Co. (NYSE:FMCGet Rating) – Stock analysts at Zacks Research decreased their Q3 2022 earnings estimates for FMC in a research report issued to clients and investors on Tuesday, September 20th. Zacks Research analyst A. Barman now anticipates that the basic materials company will post earnings per share of $1.13 for the quarter, down from their previous estimate of $1.18. The consensus estimate for FMC’s current full-year earnings is $7.45 per share. Zacks Research also issued estimates for FMC’s Q4 2022 earnings at $2.51 EPS, Q1 2023 earnings at $1.99 EPS, Q2 2023 earnings at $2.28 EPS, Q4 2023 earnings at $2.39 EPS, FY2023 earnings at $8.44 EPS and Q2 2024 earnings at $2.53 EPS.

FMC (NYSE:FMCGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The basic materials company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.04. FMC had a net margin of 12.80% and a return on equity of 30.64%. During the same quarter in the prior year, the company earned $1.81 earnings per share.

Other equities research analysts have also recently issued reports about the stock. UBS Group decreased their price objective on shares of FMC from $149.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 13th. Bank of America upgraded shares of FMC from an “underperform” rating to a “buy” rating and set a $127.00 price objective for the company in a research report on Tuesday, June 21st. They noted that the move was a valuation call. StockNews.com cut shares of FMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 27th. Redburn Partners cut shares of FMC from a “buy” rating to a “neutral” rating in a research report on Monday, June 13th. Finally, Mizuho decreased their price objective on shares of FMC from $149.00 to $144.00 and set a “buy” rating for the company in a research report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $132.64.

FMC Price Performance

FMC stock opened at $106.32 on Wednesday. FMC has a 52-week low of $87.42 and a 52-week high of $140.99. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.99 and a current ratio of 1.38. The company has a fifty day moving average price of $108.72 and a 200-day moving average price of $117.38. The company has a market capitalization of $13.39 billion, a P/E ratio of 19.54, a PEG ratio of 1.42 and a beta of 0.84.

Institutional Investors Weigh In On FMC

A number of large investors have recently bought and sold shares of FMC. Norges Bank bought a new position in shares of FMC in the fourth quarter valued at $265,158,000. BlackRock Inc. lifted its stake in shares of FMC by 6.7% in the first quarter. BlackRock Inc. now owns 10,809,549 shares of the basic materials company’s stock valued at $1,422,214,000 after buying an additional 679,446 shares in the last quarter. Eaton Vance Management lifted its stake in shares of FMC by 143.3% in the fourth quarter. Eaton Vance Management now owns 918,089 shares of the basic materials company’s stock valued at $100,718,000 after buying an additional 540,810 shares in the last quarter. Invesco Ltd. lifted its stake in shares of FMC by 41.5% in the first quarter. Invesco Ltd. now owns 1,581,629 shares of the basic materials company’s stock valued at $208,094,000 after buying an additional 463,542 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of FMC by 5.1% in the first quarter. Wellington Management Group LLP now owns 8,913,651 shares of the basic materials company’s stock valued at $1,172,769,000 after buying an additional 436,423 shares in the last quarter. 87.42% of the stock is currently owned by institutional investors and hedge funds.

FMC Dividend Announcement

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

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.

See Also

Earnings History and Estimates for FMC (NYSE:FMC)

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