Royal Bank Of Canada Has Lowered Expectations for FMC (NYSE:FMC) Stock Price

Key Points

• Royal Bank of Canada has lowered its target price for FMC stock from $47.00 to $42.00, while maintaining a "sector perform" rating, suggesting an upside potential of 8.86% from its previous close.
• Wells Fargo upgraded FMC from "equal weight" to "overweight" with a new target price of $50.00, while other analysts, including Barclays, adjusted their ratings and price targets within a similar range.
• FMC shares traded down 1.2% to $38.58, with analysts projecting an average earnings per share of 3.48 for the current year, reflecting slight profitability growth despite recent stock price volatility.

FMC (NYSE:FMC - Get Free Report) had its target price reduced by investment analysts at Royal Bank Of Canada from $47.00 to $42.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "sector perform" rating on the basic materials company's stock. Royal Bank Of Canada's price target would suggest a potential upside of 8.86% from the company's previous close.

Several other equities analysts also recently commented on the stock. Wells Fargo & Company upgraded shares of FMC from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $41.00 to $50.00 in a report on Monday, June 23rd. Mizuho upgraded FMC from a "neutral" rating to an "outperform" rating and set a $49.00 target price for the company in a research report on Friday, April 25th. UBS Group reduced their price target on FMC from $45.00 to $44.00 and set a "neutral" rating on the stock in a report on Thursday. Wall Street Zen upgraded FMC from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Finally, Barclays increased their target price on FMC from $48.00 to $49.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, FMC has an average rating of "Hold" and an average price target of $50.38.

FMC Trading Down 1.2%

Shares of NYSE:FMC traded down $0.46 during trading on Friday, hitting $38.58. The company had a trading volume of 520,790 shares, compared to its average volume of 2,603,678. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 48.24, a price-to-earnings-growth ratio of 1.33 and a beta of 0.77. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.54 and a quick ratio of 1.12. The company has a fifty day simple moving average of $42.10 and a two-hundred day simple moving average of $41.66. FMC has a one year low of $32.83 and a one year high of $67.75.

FMC (NYSE:FMC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.10. FMC had a return on equity of 9.32% and a net margin of 2.42%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $995.15 million. During the same period last year, the company earned $0.63 earnings per share. FMC's revenue was up 1.2% on a year-over-year basis. As a group, equities analysts forecast that FMC will post 3.48 earnings per share for the current year.

Hedge Funds Weigh In On FMC

Several hedge funds have recently modified their holdings of FMC. New South Capital Management Inc. boosted its stake in FMC by 9.7% in the 1st quarter. New South Capital Management Inc. now owns 546,041 shares of the basic materials company's stock worth $23,037,000 after purchasing an additional 48,431 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of FMC by 608.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 101,731 shares of the basic materials company's stock worth $4,294,000 after buying an additional 87,368 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of FMC by 56.1% during the 1st quarter. Amalgamated Bank now owns 37,710 shares of the basic materials company's stock worth $1,591,000 after buying an additional 13,556 shares during the period. GAMMA Investing LLC grew its stake in FMC by 114.8% in the 1st quarter. GAMMA Investing LLC now owns 4,245 shares of the basic materials company's stock valued at $179,000 after buying an additional 2,269 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in FMC by 560.3% during the 1st quarter. SG Americas Securities LLC now owns 14,982 shares of the basic materials company's stock worth $632,000 after acquiring an additional 12,713 shares during the last quarter. 91.86% of the stock is currently owned by institutional investors and hedge funds.

About FMC

FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. It develops, markets, and sells crop protection chemicals that includes insecticides, herbicides, and fungicides; and biologicals, crop nutrition, and seed treatment products, which are used in agriculture to enhance crop yield and quality by controlling a range of insects, weeds, and diseases, as well as in non-agricultural markets for pest control.

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