FMC (NYSE:FMC) Announces Earnings Results

FMC (NYSE:FMC - Get Free Report) released its quarterly earnings results on Tuesday. The basic materials company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.20, Briefing.com reports. The firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.04 billion. FMC had a net margin of 33.97% and a return on equity of 7.52%. The business's quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 earnings per share.

FMC Stock Up 9.6 %

FMC traded up $5.80 on Wednesday, hitting $65.98. The company had a trading volume of 2,149,295 shares, compared to its average volume of 1,694,692. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 1.07. FMC has a 52-week low of $49.49 and a 52-week high of $68.72. The stock has a fifty day simple moving average of $63.18 and a 200-day simple moving average of $60.77. The firm has a market capitalization of $8.24 billion, a P/E ratio of 5.95, a P/E/G ratio of 1.59 and a beta of 0.85.

Wall Street Analysts Forecast Growth

FMC has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on shares of FMC from $68.00 to $62.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 16th. Redburn Atlantic raised FMC from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 19th. KeyCorp reduced their target price on FMC from $81.00 to $79.00 and set an "overweight" rating on the stock in a research note on Friday, August 2nd. Citigroup assumed coverage on FMC in a research note on Wednesday, October 23rd. They issued a "neutral" rating and a $67.00 target price on the stock. Finally, BMO Capital Markets increased their target price on FMC from $60.00 to $65.00 and gave the company a "market perform" rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $67.00.

FMC Company Profile

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 includes 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.