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Agribusiness Stocks: November Post-Earnings Update

PART:
1 2 3 4 5 6 7 8 9
Part 7
Agribusiness Stocks: November Post-Earnings Update PART 7 OF 9

FMC: Analysts’ Ratings and Upgrades in November 2017

FMC

FMC (FMC) reported its earnings on November 6, 2017. It reported an EPS (earnings per share) of $0.7, which beat analysts’ estimate of $0.63 per share. Since the company’s earnings release, the stock closed ~2.5% higher as of November 10. Following the company’s earnings, it received several upgrades.

FMC: Analysts&#8217; Ratings and Upgrades in November 2017

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Analysts’ ratings

As of November 10, the consensus mean rating of 21 analysts for FMC stood at 2.2 with an overall “buy” recommendation for the next 12-month period. The rating remained unchanged from October.

In the above chart, you can see that analysts’ recommendations at each level also remained largely unchanged month-over-month. In the current month, three analysts have a “strong buy” recommendation on the stock, while ten maintained a “buy” recommendation on the stock.

Unlike PotashCorp (POT), Mosaic (MOS), and CF Industries (CF) that mainly have a “hold” recommendation, only eight analysts have a “hold” recommendation on FMC. None of the analysts have a “sell” or “strong sell” recommendation on the stock for the next 12-month period.

Target price

The current consensus mean target price for FMC stood at $98.7, which rose from $93.3 in our October update. The current target price would translate into 4.1% upside.

Following FMC’s earnings, Piper Jaffray raised its target price to $92 from $85. Baird raised its target price to $89 from $86, while BMO raised its target price to $90 from $80.

Compared to these firms (MXI), Credit Suisse and RBC were the most bullish on FMC with a target price of $102 and $100, respectively.

In the next part, we’ll discuss analysts’ ratings for Scotts Miracle-Gro (SMG).

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