Why FMC Stock Dropped Today
FMC (NYSE: FMC) stock tumbled 6.5% through 10:55 a.m. ET this morning, despite soundly beating earnings expectations last night.
Heading into the quarterly report, analysts expected FMC to earn $0.09 per share, adjusted for one-time items, on $784 million in revenue. In fact, FMC earned twice what it was "supposed to" -- $0.18 per share, and its sales came in at a strong $791.4 million.
But it's hard to call FMC's news "good." While sales were better than expected, they still declined 14% year over year. Arguably worse, while adjusted profits were twice what analysts expected, FMC reported that its earnings as calculated according to generally accepted accounting principles (GAAP) were a loss of $0.12 per share, and down significantly from last year as well.
Source Fool.com
FMC Corp. Stock
We see a rather positive sentiment for FMC Corp. with 18 Buy predictions and 1 Sell predictions.
With a target price of 43 € there is potential for a 259.23% increase which would mean more than doubling the current price of 11.97 € for FMC Corp..
