FMC (NYSE:FMC) Announces Earnings Results

Key Points

• FMC significantly missed quarterly expectations: The company reported a loss of $4.41 per share versus analysts’ expected earnings of $0.07, while revenue came in at $105.9 million compared with the $487.63 million consensus estimate.
• Shares traded near their 12-month low: FMC rose to $4.83 during Thursday trading, with a 12-month range of $4.37 to $22.00; its market capitalization was approximately $605 million.
• Analyst sentiment remains cautious: FMC has an average “Reduce” rating and an average price target of $11.25, with three Buy ratings, eight Holds and five Sells.

FMC (NYSE:FMC - Get Free Report) posted its quarterly earnings results on Thursday. The basic materials company reported ($4.41) EPS for the quarter, missing the consensus estimate of $0.07 by ($4.48), FiscalAI reports. FMC had a negative net margin of 84.83% and a positive return on equity of 11.35%. The business had revenue of $105.90 million during the quarter, compared to analysts' expectations of $487.63 million.

FMC Price Performance

FMC stock traded up $0.36 during mid-day trading on Thursday, hitting $4.83. 10,592,023 shares of the company were exchanged, compared to its average volume of 4,296,760. The company has a market capitalization of $604.99 million, a P/E ratio of -0.22 and a beta of 0.45. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.99 and a quick ratio of 1.48. The business's 50 day simple moving average is $9.34 and its two-hundred day simple moving average is $12.56. FMC has a 12-month low of $4.37 and a 12-month high of $22.00.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. KeyCorp initiated coverage on shares of FMC in a research note on Friday, September 11th. They issued an "overweight" rating and a $16.00 price target on the stock. Barclays decreased their target price on FMC from $9.00 to $4.00 and set an "underweight" rating on the stock in a research note on Thursday, October 15th. Citigroup reduced their target price on shares of FMC from $12.00 to $6.00 and set a "neutral" rating on the stock in a report on Monday, October 19th. Morgan Stanley decreased their target price on FMC from $15.50 to $12.00 and set an "equal weight" rating for the company in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. reduced their target price on shares of FMC from $16.00 to $12.00 and set a "neutral" rating on the stock in a report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat.com, FMC has an average rating of "Reduce" and an average target price of $11.25.

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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