9 Aug

How Do Analysts Rate FMC in August?


FMC performance

FMC (FMC) reported its earnings on August 1 and beat the top-line and the bottom-line estimates. After the earnings release, the stock dropped almost 2% to $86.5 but recovered after that. On August 8, FMC recovered to $89.1, which was almost 1% higher than the closing of $88.3 before the earnings release.

How Do Analysts Rate FMC in August?

Analysts’ recommendations

The current consensus recommendation for FMC as of August 8 was a “buy.” Out of the 18 analysts in the above chart, three analysts had a “strong buy” recommendation, which was one fewer than last month, while the number of analysts recommending a “buy” remained unchanged at 11 month-over-month. Similarly, the number of analysts recommending a “hold” on the stock also remained unchanged at four in August.

Price target

The current consensus mean price target on FMC rose slightly to $104.7 from $104.65 a month ago, suggesting that analysts remain confident about the company’s fundamentals after quarterly earnings. The stock closed at $89 on August 8, which means the price target represents upside of 17%. The median price target on the stock was close to the mean at $104.

With fertilizer stocks rising, investors must pay close attention to the momentum of the stocks (MOO) such as CF Industries (CF), Mosaic (MOS), and Nutrien (NTR).

For more updates, visit Market Realist’s sector page.

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