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.
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.
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.
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