With a market cap of $7.98 billion, FMC Corporation (FMC) is a global agricultural sciences company headquartered in Philadelphia, Pennsylvania. Specializing in crop protection solutions, FMC offers a broad range of products, including insecticides, herbicides, and fungicides.
FMC has significantly underperformed the broader market over the last year. The stock has declined 27.8% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 27%. In 2024, the stock has gained 1.4%, compared to SPX's 16.8% gains on a YTD basis.
Narrowing the focus, FMC also underperformed the Materials Select Sector SPDR Fund (XLB). The exchange-traded fund has gained 7% on a YTD basis.
FMC closed over 10% higher after reporting Q2 results on Jul. 31. Its adjusted EPS of $0.63 beat the consensus estimate of $0.50. The company’s revenue stood at $1.04 billion, surpassing Wall Street estimates of $995.30 million. FMC expects full-year earnings between $3.02 and $3.64 per share, with revenue ranging from $4.3 billion to $4.5 billion.
For the current fiscal year, ending in December, analysts expect FMC’s EPS to decline 9.8% to $3.41 on a diluted basis. The company's earnings surprise history is mixed. It beat the consensus estimate in two of the last four quarters while missing on two other occasions.
Among the 19 analysts covering FMC stock, the consensus rating is a “Moderate Buy.” That’s based on seven “Strong Buy” ratings, one “Moderate Buy,” 10 “Holds,” and one “Moderate Sell.”
This configuration is more bullish than a month ago, with six analysts suggesting a “Strong Buy.”
On Aug. 5, Michael Harrison, CFA from Seaport Global, maintained a “Buy” rating on FMC, with a price target of $90, which indicates a 40.8% upside from the current levels.
The mean price target is $71.06, representing an 11.2% premium compared to FMC’s current price levels. The Street-high price target of $94 suggests an ambitious upside potential of 47.1%.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
