Royal Bank of Canada Lowers FMC (NYSE:FMC) Price Target to $59.00

FMC (NYSE:FMCGet Free Report) had its price objective cut by research analysts at Royal Bank of Canada from $61.00 to $59.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 14.01% from the company’s previous close.

A number of other research firms have also recently weighed in on FMC. BMO Capital Markets lowered their price target on shares of FMC from $63.00 to $61.00 and set a “market perform” rating on the stock in a report on Wednesday. Vertical Research raised shares of FMC from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Monday, October 16th. KeyCorp dropped their target price on shares of FMC from $80.00 to $76.00 and set an “overweight” rating on the stock in a research report on Wednesday. BNP Paribas cut shares of FMC from an “outperform” rating to a “neutral” rating and set a $56.00 price target for the company. in a report on Wednesday. Finally, Wells Fargo & Company cut their price objective on FMC from $99.00 to $73.00 and set an “equal weight” rating on the stock in a report on Monday, October 23rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $78.24.

Read Our Latest Report on FMC

FMC Stock Performance

Shares of NYSE:FMC opened at $51.75 on Thursday. The firm has a 50 day moving average of $58.58 and a 200 day moving average of $66.62. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 4.91, a price-to-earnings-growth ratio of 1.63 and a beta of 0.88. FMC has a 52 week low of $49.49 and a 52 week high of $131.77.

FMC (NYSE:FMCGet Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.25 billion. FMC had a net margin of 29.45% and a return on equity of 12.98%. During the same quarter in the prior year, the business posted $2.37 earnings per share. On average, sell-side analysts predict that FMC will post 4.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert C. Pallash acquired 3,845 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were acquired at an average cost of $52.48 per share, with a total value of $201,785.60. Following the completion of the acquisition, the director now directly owns 47,871 shares in the company, valued at approximately $2,512,270.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.85% of the stock is owned by insiders.

Hedge Funds Weigh In On FMC

A number of hedge funds have recently made changes to their positions in the company. Baird Financial Group Inc. boosted its stake in FMC by 3.1% during the 4th quarter. Baird Financial Group Inc. now owns 2,826 shares of the basic materials company’s stock worth $352,000 after purchasing an additional 84 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of FMC by 0.7% in the first quarter. Commonwealth Equity Services LLC now owns 14,050 shares of the basic materials company’s stock worth $1,715,000 after buying an additional 92 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in FMC by 68.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 228 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 93 shares during the last quarter. Advisor Partners II LLC grew its stake in FMC by 3.4% during the 1st quarter. Advisor Partners II LLC now owns 3,681 shares of the basic materials company’s stock valued at $450,000 after acquiring an additional 121 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. raised its holdings in FMC by 1.7% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 7,679 shares of the basic materials company’s stock valued at $1,010,000 after acquiring an additional 129 shares during the last quarter. Institutional investors and hedge funds own 86.91% of the company’s stock.

FMC Company Profile

(Get Free Report)

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.

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Analyst Recommendations for FMC (NYSE:FMC)

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