FMC (NYSE:FMC) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded FMC from “hold” to “sell.” Across analysts, the stock has three Buy, nine Hold, and four Sell ratings, with an overall “Reduce” consensus and a $10.71 average target.
• FMC reported a steep quarterly shortfall: EPS was a loss of $4.41 versus expectations for $0.08, while revenue fell 80.5% year over year to $105.9 million, far below the $487.6 million estimate.
• FMC shares opened at $5.62, near their 12-month low of $4.37; the company also reported negative net margin and return on equity.

FMC (NYSE:FMC - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

FMC has been the topic of a number of other research reports. KeyCorp assumed coverage on FMC in a report on Friday, September 11th. They set an "overweight" rating and a $16.00 target price on the stock. Jefferies Financial Group began coverage on shares of FMC in a research note on Monday. They set a "hold" rating and a $6.00 price target on the stock. UBS Group dropped their target price on FMC from $10.00 to $6.50 and set a "neutral" rating on the stock in a research report on Tuesday. The Goldman Sachs Group reiterated a "buy" rating and set a $18.00 target price on shares of FMC in a research report on Friday, July 31st. Finally, BMO Capital Markets decreased their price target on shares of FMC from $11.00 to $7.50 and set a "market perform" rating on the stock in a research note on Friday, October 16th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $10.71.

FMC Stock Performance

NYSE:FMC opened at $5.62 on Friday. The company's 50-day moving average price is $8.63 and its 200-day moving average price is $12.23. FMC has a twelve month low of $4.37 and a twelve month high of $18.29. The company has a market cap of $875.02 million, a P/E ratio of -0.17 and a beta of 0.50. The company has a current ratio of 1.66, a quick ratio of 1.18 and a debt-to-equity ratio of 416.31.

FMC (NYSE:FMC - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The basic materials company reported ($4.41) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($4.49). FMC had a negative net margin of 151.18% and a negative return on equity of 30.77%. The business had revenue of $105.90 million during the quarter, compared to analysts' expectations of $487.63 million. During the same period in the prior year, the company posted $0.89 EPS. The company's revenue for the quarter was down 80.5% on a year-over-year basis. On average, sell-side analysts forecast that FMC will post -3.71 earnings per share for the current fiscal year.

Insider Transactions at FMC

In related news, VP Jacqueline Scanlan sold 4,930 shares of the firm's stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $6.55, for a total value of $32,291.50. Following the completion of the sale, the vice president directly owned 58,628 shares in the company, valued at approximately $384,013.40. This trade represents a 7.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.82% of the company's stock.

Institutional Investors Weigh In On FMC

Large investors have recently made changes to their positions in the stock. Pinnacle Wealth Planning Services Inc. boosted its stake in FMC by 1,292.2% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 3,411 shares of the basic materials company's stock worth $30,000 after purchasing an additional 3,166 shares during the period. IFP Advisors Inc lifted its position in shares of FMC by 99.0% in the second quarter. IFP Advisors Inc now owns 2,726 shares of the basic materials company's stock valued at $31,000 after buying an additional 1,356 shares during the last quarter. Essential Partners LLC acquired a new stake in shares of FMC during the 1st quarter valued at $43,000. Nykredit A S purchased a new position in shares of FMC during the second quarter valued at approximately $55,000. Finally, GAMMA Investing LLC lifted its holdings in shares of FMC by 47.7% during the 3rd quarter. GAMMA Investing LLC now owns 6,620 shares of the basic materials company's stock worth $59,000 after acquiring an additional 2,139 shares during the last quarter. 91.86% of the stock is owned by hedge funds and other institutional investors.

About FMC

FMC Corporation NYSE: FMC is an agricultural sciences company that develops and markets crop protection products and technologies. Its portfolio is designed to help farmers manage weeds, insects and diseases that can affect crop yields and quality.

The company's products include herbicides, insecticides, fungicides, biological crop protection products and seed treatment solutions. FMC also develops crop health technologies and digital tools intended to support more precise and efficient agricultural applications.

FMC serves farmers, agricultural retailers and distributors in major farming regions around the world, with products used across a broad range of crops.

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