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
FMC Corp. is currently one of the favorites of our community with 16 Buy predictions and no Sell predictions.
With a target price of 41 € there is potential for a 230.91% increase which would mean more than doubling the current price of 12.39 € for FMC Corp..
