Jefferies Financial Group Brokers Cut Earnings Estimates for FMC Corp (FMC)

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FMC Corp (NYSE:FMC) – Analysts at Jefferies Financial Group reduced their FY2019 earnings per share estimates for FMC in a report released on Tuesday, November 6th. Jefferies Financial Group analyst L. Alexander now expects that the basic materials company will earn $6.25 per share for the year, down from their prior forecast of $6.50. Jefferies Financial Group also issued estimates for FMC’s FY2020 earnings at $7.40 EPS and FY2022 earnings at $8.40 EPS.

Several other research analysts also recently commented on the stock. ValuEngine downgraded shares of FMC from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Credit Suisse Group started coverage on shares of FMC in a research note on Monday, November 5th. They issued an “outperform” rating and a $103.00 price target on the stock. Citigroup started coverage on shares of FMC in a research note on Monday, November 5th. They issued a “buy” rating and a $92.00 price target on the stock. Loop Capital started coverage on shares of FMC in a research note on Friday. They issued a “buy” rating and a $118.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of FMC from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $101.42.

FMC stock opened at $83.57 on Thursday. The stock has a market capitalization of $11.30 billion, a P/E ratio of 30.84, a P/E/G ratio of 0.75 and a beta of 1.60. FMC has a 12 month low of $72.73 and a 12 month high of $98.70. The company has a current ratio of 1.54, a quick ratio of 1.24 and a debt-to-equity ratio of 0.84.

FMC (NYSE:FMC) last posted its quarterly earnings results on Monday, November 5th. The basic materials company reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.06. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. FMC had a net margin of 22.28% and a return on equity of 26.26%. The firm’s revenue was up 60.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.70 EPS.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Asset Management Inc grew its position in shares of FMC by 4.7% in the 2nd quarter. CIBC Asset Management Inc now owns 12,777 shares of the basic materials company’s stock worth $1,140,000 after buying an additional 571 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of FMC by 9.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,054 shares of the basic materials company’s stock worth $658,000 after buying an additional 617 shares during the last quarter. Manning & Napier Group LLC grew its position in shares of FMC by 2.6% in the 2nd quarter. Manning & Napier Group LLC now owns 25,290 shares of the basic materials company’s stock worth $2,255,000 after buying an additional 645 shares during the last quarter. Suntrust Banks Inc. grew its position in shares of FMC by 14.7% in the 1st quarter. Suntrust Banks Inc. now owns 5,162 shares of the basic materials company’s stock worth $394,000 after buying an additional 660 shares during the last quarter. Finally, Twin Capital Management Inc. grew its position in shares of FMC by 0.7% in the 2nd quarter. Twin Capital Management Inc. now owns 89,220 shares of the basic materials company’s stock worth $7,959,000 after buying an additional 660 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

In other FMC news, COO Mark Douglas bought 4,250 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were acquired at an average price of $86.13 per share, with a total value of $366,052.50. Following the transaction, the chief operating officer now owns 59,943 shares of the company’s stock, valued at approximately $5,162,890.59. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dirk A. Kempthorne bought 1,173 shares of the business’s stock in a transaction on Tuesday, August 28th. The shares were acquired at an average cost of $86.12 per share, for a total transaction of $101,018.76. Following the transaction, the director now directly owns 35,783 shares in the company, valued at approximately $3,081,631.96. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

About FMC

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.

Further Reading: Fundamental Analysis and Individual Investors

Earnings History and Estimates for FMC (NYSE:FMC)

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