FMC (NYSE:FMC) Price Target Raised to $70.00

FMC (NYSE:FMC) had its price objective upped by research analysts at Mizuho from $64.00 to $70.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the basic materials company’s stock. Mizuho’s target price would suggest a potential upside of 10.71% from the company’s current price.

FMC has been the subject of a number of other research reports. Royal Bank of Canada lifted their price objective on shares of FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a report on Friday. Redburn Atlantic raised FMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 19th. Citigroup started coverage on FMC in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $67.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, Barclays raised their target price on shares of FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $68.00.

FMC Trading Down 2.7 %

NYSE FMC traded down $1.76 during trading hours on Friday, reaching $63.23. The company had a trading volume of 549,616 shares, compared to its average volume of 1,694,614. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $7.89 billion, a P/E ratio of 5.44, a price-to-earnings-growth ratio of 1.71 and a beta of 0.85. The stock has a 50-day moving average of $63.25 and a 200 day moving average of $60.84. FMC has a 1-year low of $49.49 and a 1-year high of $68.72.

FMC (NYSE:FMC) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.20. FMC had a net margin of 34.93% and a return on equity of 7.68%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm earned $0.44 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, research analysts anticipate that FMC will post 3.3 earnings per share for the current fiscal year.

Institutional Trading of FMC

A number of hedge funds and other institutional investors have recently made changes to their positions in FMC. SG Americas Securities LLC grew its stake in FMC by 396.9% during the 1st quarter. SG Americas Securities LLC now owns 70,268 shares of the basic materials company’s stock worth $4,476,000 after buying an additional 56,128 shares during the last quarter. Cetera Investment Advisers raised its position in FMC by 483.8% in the 1st quarter. Cetera Investment Advisers now owns 34,781 shares of the basic materials company’s stock valued at $2,216,000 after purchasing an additional 28,823 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in FMC during the 1st quarter worth $1,994,000. BNP Paribas acquired a new position in FMC in the first quarter valued at $1,372,000. Finally, CWM LLC raised its holdings in shares of FMC by 87.4% in the second quarter. CWM LLC now owns 17,662 shares of the basic materials company’s stock valued at $1,016,000 after buying an additional 8,238 shares during the last quarter. Institutional investors and hedge funds own 91.86% of the company’s stock.

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.