FMC Gears Up For Q3 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

FMC Corporation FMC is expected to release financial results for its third quarter, after the closing bell on Oct. 30, 2023.

Analysts expect the company to post quarterly earnings at $1.02 per share, down from year-ago earnings of $1.23 per share. The company’s revenue might come in at $1.21 billion, compared to $1.34 billion in the year-ago period.

FMC recently updated its third-quarter and FY23 outlook. The company now expects its third-quarter revenue to be $982 million, down from the previous $1.19 billion - $1.27 billion, and against the estimate of $1.21 billion. The adjusted EPS is expected to be $0.44, down from the prior outlook of $0.90 - $1.32, against the $1.02 estimate.

FMC shares gained 0.8% to close at $56.88 on Friday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Fermium Research analyst Frank Mitsch maintained a Hold rating and cut the price target from $85 to $62 on Oct. 24, 2023. This analyst has an accuracy rate of 68%.
• Morgan Stanley analyst Vincent Andrews downgraded the stock from Overweight to Equal-Weight and slashed the price target from $100 to $70 on Oct. 24, 2023. This analyst has an accuracy rate of 77%.
• Keybanc analyst Aleksey Yefremov maintained an Overweight rating and cut the price target from $107 to $83 on Oct. 24, 2023. This analyst has an accuracy rate of 68%.
• JP Morgan analyst Jeffrey Zekauskas initiated coverage on the stock with a Neutral rating and a price target of $90 on Aug. 21, 2023. This analyst has an accuracy rate of 72%.
• Goldman Sachs analyst Adam Samuelson downgraded the stock from Buy to Neutral and cut the price target from $135 to $59 on Oct. 24, 2023. This analyst has an accuracy rate of 68%.

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