FMC (NYSE:FMC) Stock Price Down 6.5% After Analyst Downgrade

Key Points

• FMC shares fell 6.5% to about $6.08 after Weiss Ratings downgraded the stock from “sell (D-)” to “sell (E+).” Trading volume was roughly 89% below the average session volume.
• Analyst sentiment remains weak: Morgan Stanley and Citigroup cut their price targets, while FMC carries an overall “Reduce” rating and an average target of $10.89.
• FMC reported a sharp quarterly deterioration, including a $4.41 loss per share versus an expected $0.08 profit and an 80.5% year-over-year revenue decline. The company’s negative net margin was 84.83%.

FMC Corporation (NYSE:FMC - Get Free Report) shares dropped 6.5% during mid-day trading on Tuesday after Weiss Ratings downgraded the stock from a sell (d-) rating to a sell (e+) rating. The company traded as low as $6.24 and last traded at $6.0750. Approximately 480,711 shares were traded during trading, a decline of 89% from the average session volume of 4,375,636 shares. The stock had previously closed at $6.50.

FMC has been the subject of several other reports. Morgan Stanley decreased their target price on FMC from $12.00 to $8.00 and set an "equal weight" rating for the company in a research report on Monday. Citigroup cut their price target 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. Wall Street Zen raised shares of FMC from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. KeyCorp began 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. Finally, Jefferies Financial Group began coverage on shares of FMC in a report on Monday. They set a "hold" rating and a $6.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, FMC currently has an average rating of "Reduce" and an average price target of $10.89.

Institutional Investors Weigh In On FMC

Large investors have recently modified their holdings of the business. Root Financial Partners LLC lifted its holdings in FMC by 3,642.9% during the first quarter. Root Financial Partners LLC now owns 1,834 shares of the basic materials company's stock worth $32,000 after buying an additional 1,785 shares during the period. Essential Partners LLC purchased a new position in shares of FMC in the 1st quarter valued at $43,000. IFP Advisors Inc increased its holdings in shares of FMC by 99.0% in the 2nd quarter. IFP Advisors Inc now owns 2,726 shares of the basic materials company's stock valued at $31,000 after acquiring an additional 1,356 shares during the period. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of FMC by 1,292.2% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 3,411 shares of the basic materials company's stock valued at $30,000 after acquiring an additional 3,166 shares during the period. Finally, Nykredit A S purchased a new stake in shares of FMC during the 2nd quarter worth $55,000. Institutional investors own 91.86% of the company's stock.

FMC Stock Performance

The business has a 50-day moving average of $9.03 and a two-hundred day moving average of $12.42. The company has a market cap of $782.04 million, a P/E ratio of -0.19 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.

FMC (NYSE:FMC - Get Free Report) last posted its earnings results on Thursday, October 29th. The basic materials company reported ($4.41) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($4.49). The company had revenue of $105.90 million during the quarter, compared to analysts' expectations of $487.63 million. FMC had a negative net margin of 84.83% and a positive return on equity of 11.35%. FMC's revenue for the quarter was down 80.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 EPS. On average, sell-side analysts predict that FMC Corporation will post -3.58 EPS for the current fiscal year.

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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