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.
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.
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).