Why FMC Stock Crashed 36% on Wednesday
FMC (NYSE: FMC) stock crashed 36.3% through 9:50 a.m. ET Wednesday after reporting mixed earnings last night.
Heading into the report, analysts forecast that FMC would earn $1.60 per share in Q4, and FMC beat that number with a stick, reporting adjusted profits of $1.79 per share. However, analysts also thought FMC's sales would exceed $1.3 billion. In fact, sales were barely $1.2 billion.
FMC's sales grew 12% organically, but adverse foreign exchange rates limited dollar-denominated sales growth to 7%. The news on profits was arguably worse. While adjusted profits exceeded expectations for the quarter, earnings, as calculated according to generally accepted accounting principles (GAAP), ran negative. GAAP "earnings" were a loss of $0.13 per share.
Source Fool.com
FMC Corp. Stock
With 15 Buy predictions and not the single Sell prediction the community is currently very high on FMC Corp..
Based on the current price of 15.35 € the target price of 39 € shows a potential of 154.07% for FMC Corp. which would more than double the current price.
