FMC Corp (FMC) to Post FY2018 Earnings of $5.94 Per Share, Gabelli Forecasts
FMC Corp (NYSE:FMC) – Analysts at Gabelli reduced their FY2018 earnings per share estimates for shares of FMC in a report released on Wednesday, November 7th. Gabelli analyst R. Morbelli now anticipates that the basic materials company will earn $5.94 per share for the year, down from their previous estimate of $6.05. Gabelli also issued estimates for FMC’s FY2019 earnings at $6.65 EPS, FY2020 earnings at $7.40 EPS, FY2021 earnings at $8.25 EPS and FY2022 earnings at $9.15 EPS.
FMC has been the topic of a number of other research reports. Citigroup assumed coverage on shares of FMC in a report on Monday, November 5th. They issued a “buy” rating and a $92.00 price target on the stock. ValuEngine raised shares of FMC from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Loop Capital assumed coverage on shares of FMC in a report on Friday. They issued a “buy” rating and a $118.00 price target on the stock. Credit Suisse Group began coverage on shares of FMC in a report on Monday, November 5th. They issued an “outperform” rating and a $103.00 price target on the stock. Finally, Zacks Investment Research lowered shares of FMC from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. FMC currently has an average rating of “Buy” and an average target price of $101.42.
FMC (NYSE:FMC) last posted its quarterly earnings results on Monday, November 5th. The basic materials company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. FMC had a net margin of 22.28% and a return on equity of 26.26%. FMC’s revenue was up 60.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 EPS.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FMC. Boston Partners grew its position in shares of FMC by 29.2% during the 2nd quarter. Boston Partners now owns 4,220,507 shares of the basic materials company’s stock valued at $376,511,000 after purchasing an additional 953,377 shares in the last quarter. Frontier Capital Management Co. LLC grew its position in shares of FMC by 34.3% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 2,153,223 shares of the basic materials company’s stock valued at $192,089,000 after purchasing an additional 549,475 shares in the last quarter. Green Valley Investors LLC purchased a new position in shares of FMC during the 2nd quarter valued at $32,693,000. Millennium Management LLC grew its position in shares of FMC by 124.3% during the 2nd quarter. Millennium Management LLC now owns 630,703 shares of the basic materials company’s stock valued at $56,265,000 after purchasing an additional 349,495 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in shares of FMC by 157.8% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 563,546 shares of the basic materials company’s stock valued at $50,274,000 after purchasing an additional 344,986 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.
In other FMC news, COO Mark Douglas acquired 4,250 shares of FMC stock in a transaction that occurred on Tuesday, August 14th. The stock was acquired at an average cost of $86.13 per share, for a total transaction of $366,052.50. Following the purchase, the chief operating officer now owns 59,943 shares of the company’s stock, valued at $5,162,890.59. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dirk A. Kempthorne acquired 1,173 shares of FMC stock in a transaction that occurred on Tuesday, August 28th. The stock was acquired at an average price of $86.12 per share, with a total value of $101,018.76. Following the completion of the purchase, the director now directly owns 35,783 shares in the company, valued at approximately $3,081,631.96. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by insiders.
FMC Company Profile
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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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