FMC (NYSE:FMC) Given New $6.50 Price Target at UBS Group

Key Points

• UBS Group lowered FMC’s price target from $10.00 to $6.50 while maintaining a “neutral” rating, implying roughly 4.1% upside from the prior close.
• Analyst sentiment has weakened broadly: FMC’s consensus rating is “Reduce,” with an average price target of $10.64; recent targets range from $4.00 at Barclays to $8.00 at Morgan Stanley.
• FMC reported a sharp quarterly decline, including a $4.41 loss per share versus expectations for $0.08 earnings and an 80.5% year-over-year revenue drop to $105.9 million. The stock recently traded at $6.24, near its 12-month low of $4.37.

FMC (NYSE:FMC - Get Free Report) had its price target lowered by research analysts at UBS Group from $10.00 to $6.50 in a report released on Tuesday, Benzinga reports. The brokerage presently has a "neutral" rating on the basic materials company's stock. UBS Group's price objective suggests a potential upside of 4.10% from the stock's previous close.

Other research analysts have also issued reports about the stock. 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. Morgan Stanley lowered their price objective on FMC from $12.00 to $8.00 and set an "equal weight" rating on the stock in a report on Monday. Barclays cut their price objective on FMC from $9.00 to $4.00 and set an "underweight" rating for the company in a research note on Thursday, October 15th. KeyCorp started coverage on FMC in a report on Friday, September 11th. They set an "overweight" rating and a $16.00 target price for the company. Finally, Weiss Ratings downgraded FMC from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, FMC has a consensus rating of "Reduce" and an average price target of $10.64.

FMC Price Performance

NYSE FMC traded down $0.26 on Tuesday, hitting $6.24. The company had a trading volume of 1,969,067 shares, compared to its average volume of 4,382,723. The company has a market capitalization of $781.92 million, a PE ratio of -0.19 and a beta of 0.45. The company's fifty day moving average price is $9.03 and its 200-day moving average price is $12.42. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.99 and a quick ratio of 1.48. FMC has a 12-month low of $4.37 and a 12-month high of $18.29.

FMC (NYSE:FMC - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The basic materials company reported ($4.41) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($4.49). FMC had a positive return on equity of 11.35% and a negative net margin of 84.83%. The company had revenue of $105.90 million for the quarter, compared to analyst estimates of $487.63 million. During the same quarter in the prior year, the company posted $0.89 earnings per share. The business's revenue was down 80.5% on a year-over-year basis. As a group, analysts predict that FMC will post -3.58 earnings per share for the current year.

Institutional Investors Weigh In On FMC

A number of hedge funds have recently modified their holdings of FMC. Bank of New York Mellon Corp purchased a new stake in FMC during the 2nd quarter valued at about $8,498,000. AXQ Capital LP raised its holdings in FMC by 109.9% in the 2nd quarter. AXQ Capital LP now owns 366,661 shares of the basic materials company's stock valued at $4,217,000 after acquiring an additional 191,945 shares during the last quarter. Wellington Management Group LLP raised its holdings in FMC by 142.4% in the 2nd quarter. Wellington Management Group LLP now owns 235,089 shares of the basic materials company's stock valued at $2,704,000 after acquiring an additional 138,098 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in FMC in the 2nd quarter worth approximately $1,175,000. Finally, Counterpoint Mutual Funds LLC lifted its stake in FMC by 265.4% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 86,985 shares of the basic materials company's stock worth $776,000 after purchasing an additional 63,182 shares in the last quarter. 91.86% of the stock is currently owned by institutional investors and hedge funds.

FMC Company Profile

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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