FMC Corporation (FMC), headquartered in Philadelphia, Pennsylvania, is a global agricultural sciences company that provides innovative crop protection solutions. With a market cap of $8.25 billion, FMC delivers a wide range of herbicides, insecticides, and fungicides to farmers worldwide, focusing on advancing sustainable agriculture through cutting-edge technologies and research-driven solutions to meet the evolving needs of the industry.
Companies valued at less than $10 billion are generally considered “mid-cap” stocks and FMC Corporation fits into this category due to its significant role in the agricultural sciences industry.
FMC shares are trading 3.8% below their 52-week high of $68.72, which they hit on May 13. The stock has gained 15.8% over the past three months, outperforming the broader Nasdaq Composite ($NASX), which has gained 1.5% over the same time frame.
In the longer term, FMC is up 4.8% on a YTD basis, and its shares have gained marginally over the past 52 weeks. In comparison, the Nasdaq has gained 20.7% in 2024 and rallied 38.4% over the past year.
To confirm its bullish trend, FMC has been trading above its 200-day moving average since late July and its 50-day moving since early September.
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.
Highlighting the contrast in performance, FMC's competitor, Albemarle Corporation (ALB), has underperformed the stock. ALB has declined 33.5% on a YTD basis.
Given its strong price performance, analysts are moderately bullish about FMC's prospects. The stock has a consensus rating of "Moderate Buy" from 17 analysts in coverage. The mean price target is $70, suggesting a premium of 5.9% to its current levels.
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.
