Royal Bank Of Canada Issues Pessimistic Forecast for FMC (NYSE:FMC) Stock Price

FMC (NYSE:FMC) had its target price cut by Royal Bank Of Canada from $9.00 to $7.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “sector perform” rating on the basic materials company’s stock. Royal Bank Of Canada‘s price target would indicate a potential upside of 12.96% from the stock’s current price.

A number of other equities analysts have also commented on FMC. Barclays cut their price objective on shares of FMC from $9.00 to $4.00 and set an “underweight” rating for the company in a research report on Thursday, October 15th. Jefferies Financial Group began coverage on FMC in a report on Monday. They set a “hold” rating and a $6.00 target price for the company. UBS Group cut their price objective on FMC from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. BMO Capital Markets lowered their price objective on FMC from $11.00 to $7.50 and set a “market perform” rating for the company in a research report on Friday, October 16th. Finally, Seaport Research Partners set a $21.00 target price on shares of FMC in a research note on Tuesday, August 4th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $11.18.

FMC Trading Down 0.0%

Shares of FMC traded down $0.00 during trading hours on Monday, hitting $6.20. 473,616 shares of the stock were exchanged, compared to its average volume of 4,340,162. The business has a 50-day moving average of $9.13 and a 200-day moving average of $12.46. FMC has a fifty-two week low of $4.37 and a fifty-two week high of $18.29. The company has a debt-to-equity ratio of 416.31, a current ratio of 1.66 and a quick ratio of 1.18. The firm has a market capitalization of $776.05 million, a P/E ratio of -0.18 and a beta of 0.50.

FMC (NYSE:FMC) last announced its quarterly earnings data on Thursday, October 29th. The basic materials company reported ($4.41) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($4.49). The firm had revenue of $105.90 million during the quarter, compared to analyst estimates of $487.63 million. FMC had a negative net margin of 151.18% and a negative return on equity of 30.77%. The company’s revenue was down 80.5% on a year-over-year basis. During the same period last year, the business posted $0.89 EPS. On average, research analysts expect that FMC will post -3.58 EPS for the current year.

Hedge Funds Weigh In On FMC

Several institutional investors and hedge funds have recently modified their holdings of FMC. Bank of New York Mellon Corp acquired a new position in shares of FMC in the second quarter worth about $8,498,000. AXQ Capital LP grew its stake in FMC by 109.9% in the 2nd quarter. AXQ Capital LP now owns 366,661 shares of the basic materials company’s stock valued at $4,217,000 after acquiring an additional 191,945 shares during the period. Wellington Management Group LLP raised its position 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 acquiring an additional 138,098 shares during the period. Entropy Technologies LP purchased a new position in FMC in the 1st quarter valued at about $1,401,000. Finally, Public Employees Retirement System of Ohio acquired a new position in FMC in the 2nd quarter valued at $1,175,000. Institutional investors and hedge funds own 91.86% of the company’s stock.

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.