FMC (NYSE:FMC) Hits New 1-Year Low - Here's What Happened

Key Points

• FMC shares hit a new 52-week low, falling 3.9% intraday to $4.52, amid a market capitalization of approximately $566.7 million.
• Analyst sentiment has deteriorated: Barclays cut its price target to $4, RBC downgraded the stock to “sell,” and the consensus rating is “Reduce” with an average target of $11.25.
• FMC’s latest quarterly revenue fell 17.5% year over year to $841.4 million, missing estimates, while net margin remained deeply negative at -84.83%, despite EPS beating expectations.

FMC Corporation (NYSE:FMC - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $4.52 and last traded at $4.5450, with a volume of 2,105,485 shares trading hands. The stock had previously closed at $4.71.

Analysts Set New Price Targets

A number of research analysts have weighed in on FMC shares. Royal Bank Of Canada lowered shares of FMC from a "sector perform" rating to a "sell" rating in a research note on Friday, October 16th. KeyCorp began coverage on FMC in a report on Friday, September 11th. They set an "overweight" rating and a $16.00 target price for the company. Morgan Stanley dropped their price target on FMC from $15.50 to $12.00 and set an "equal weight" rating on the stock in a research note on Friday, July 31st. UBS Group cut their price target on FMC from $12.00 to $10.00 and set a "neutral" rating on the stock in a report on Monday, October 5th. Finally, Barclays decreased their price objective on FMC from $9.00 to $4.00 and set an "underweight" rating for the company in a report on Thursday, October 15th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $11.25.

FMC Trading Down 3.9%

The firm has a market cap of $566.67 million, a P/E ratio of -0.21 and a beta of 0.45. The business's 50-day moving average is $9.45 and its two-hundred day moving average is $12.61. 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 (NYSE:FMC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. FMC had a negative net margin of 84.83% and a positive return on equity of 11.35%. The firm had revenue of $841.40 million for the quarter, compared to analyst estimates of $895.14 million. During the same period in the previous year, the business earned $0.69 EPS. The company's revenue was down 17.5% compared to the same quarter last year. As a group, analysts predict that FMC Corporation will post 0.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new stake in shares of FMC during the 2nd quarter worth approximately $8,498,000. AXQ Capital LP increased its holdings in FMC by 109.9% during the second quarter. AXQ Capital LP now owns 366,661 shares of the basic materials company's stock worth $4,217,000 after buying an additional 191,945 shares during the last quarter. Wellington Management Group LLP increased its holdings in FMC by 142.4% during the second quarter. Wellington Management Group LLP now owns 235,089 shares of the basic materials company's stock worth $2,704,000 after buying an additional 138,098 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in FMC during the second quarter worth $1,175,000. Finally, Entropy Technologies LP bought a new stake in FMC during the first quarter worth $1,401,000. 91.86% of the stock is currently owned by institutional investors.

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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