Zacks: Brokerages Expect FMC Corp (FMC) Will Announce Quarterly Sales of $1.00 Billion

Brokerages expect that FMC Corp (NYSE:FMC) will report sales of $1.00 billion for the current quarter, according to Zacks. Four analysts have provided estimates for FMC’s earnings, with the lowest sales estimate coming in at $974.40 million and the highest estimate coming in at $1.03 billion. FMC posted sales of $865.60 million in the same quarter last year, which suggests a positive year-over-year growth rate of 15.5%. The business is expected to report its next earnings report after the market closes on Monday, February 12th.

According to Zacks, analysts expect that FMC will report full-year sales of $1.00 billion for the current year, with estimates ranging from $2.69 billion to $2.93 billion. For the next financial year, analysts forecast that the business will post sales of $4.39 billion per share, with estimates ranging from $4.31 billion to $4.48 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for FMC.

FMC (NYSE:FMC) last released its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. FMC had a net margin of 0.78% and a return on equity of 16.77%. The firm had revenue of $646.20 million during the quarter, compared to analyst estimates of $686.21 million. During the same quarter last year, the business earned $0.67 EPS. The company’s revenue was up 2.8% compared to the same quarter last year.

Several research analysts have issued reports on the stock. BMO Capital Markets raised their price target on shares of FMC from $80.00 to $90.00 and gave the stock a “market perform” rating in a report on Wednesday, November 8th. They noted that the move was a valuation call. Loop Capital started coverage on shares of FMC in a research note on Thursday, September 28th. They issued a “buy” rating and a $102.00 price objective for the company. KeyCorp reiterated a “buy” rating and issued a $112.00 price objective on shares of FMC in a research note on Monday, December 4th. Credit Suisse Group set a $111.00 price objective on shares of FMC and gave the company a “buy” rating in a research note on Tuesday, January 16th. Finally, Piper Jaffray Companies set a $85.00 price objective on shares of FMC and gave the company a “hold” rating in a research note on Friday, October 6th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $95.25.

FMC (NYSE FMC) opened at $89.85 on Tuesday. The company has a current ratio of 2.19, a quick ratio of 1.81 and a debt-to-equity ratio of 0.70. FMC has a fifty-two week low of $56.53 and a fifty-two week high of $98.70. The stock has a market cap of $12,060.00, a P/E ratio of 61.54, a price-to-earnings-growth ratio of 1.49 and a beta of 1.61.

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 18th. Investors of record on Friday, December 29th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Thursday, December 28th. FMC’s payout ratio is currently 45.21%.

In related news, insider Nicholas Pfeiffer sold 375 shares of FMC stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $90.33, for a total value of $33,873.75. Following the completion of the sale, the insider now owns 6,856 shares of the company’s stock, valued at approximately $619,302.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of FMC. New York State Common Retirement Fund boosted its holdings in FMC by 7.1% during the 2nd quarter. New York State Common Retirement Fund now owns 327,500 shares of the basic materials company’s stock worth $23,924,000 after acquiring an additional 21,799 shares during the last quarter. Cibc World Markets Corp boosted its holdings in FMC by 35.5% during the 2nd quarter. Cibc World Markets Corp now owns 18,936 shares of the basic materials company’s stock worth $1,383,000 after acquiring an additional 4,961 shares during the last quarter. Sandhill Capital Partners LLC boosted its holdings in FMC by 4.0% during the 2nd quarter. Sandhill Capital Partners LLC now owns 244,848 shares of the basic materials company’s stock worth $17,886,000 after acquiring an additional 9,407 shares during the last quarter. Oakbrook Investments LLC boosted its holdings in FMC by 27.9% during the 3rd quarter. Oakbrook Investments LLC now owns 13,290 shares of the basic materials company’s stock worth $1,187,000 after acquiring an additional 2,900 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its holdings in FMC by 12.0% during the 3rd quarter. Nationwide Fund Advisors now owns 278,929 shares of the basic materials company’s stock worth $24,911,000 after acquiring an additional 29,858 shares during the last quarter. 89.33% of the stock is currently owned by hedge funds and other institutional investors.

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About FMC

FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.

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