Why FMC Stock Crashed Today
Shares of agricultural chemicals company FMC (NYSE: FMC) were down today, plunging 8.8% as of 2:33 p.m. ET.
While FMC had already warned investors earlier in the month that earnings were going to come in well below its estimates given earlier in the summer, it appears things were even worse than feared. Or, at least, investors were potentially hoping for a stronger outlook.
In the third quarter, FMC reported revenue of $981.9 million and adjusted non-GAAP (generally accepted accounting principles) earnings per share of $0.44. That marks a 29% revenue decline, as well as a 64% profit decline relative to the year-ago quarter. These figures were well below what FMC guided to back in August, but are essentially in-line with FMC's preannouncement made on Oct. 23.
Source Fool.com
FMC Corp. Stock
With 17 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 75 € shows a positive potential of 40.98% compared to the current price of 53.2 € for FMC Corp..
