FMC Corp. (FMC)

FMC Corporation Stock (FMC) dropped by 6.00% from $53.20 to $50.01 in the trading on Wednesday November 1, 2023. The reason why FMC stock down today is due to estimates cutting by analysts. FMC's 18 analysts are forecasting 2024 revenues to be US$4.9B. The consensus price target fell 12% to US$80.49, with the weaker earnings outlook clearly leading analyst valuation estimates. Analyst sentiment has definitely become more bearish after the latest update, leading to lower revenue forecasts and a considerable drop in earnings per share estimates.

FMC Corporation Stock (FMC) dropped by 8.21% from $57.96 to $53.20 in the trading on Tuesday October 31, 2023. The reason why FMC stock down today include:

• Missed third-quarter results: FMC reported revenue of $981.9 million and adjusted EPS of $0.44. These numbers were well below what FMC guided to back in August. It is due to volume headwinds from a continuation of channel destocking behavior that began in the prior quarter.
• Lower full-year earnings guidance: FMC cut its guidance for adjusted EPS of $3.57 - $4.13 from $5.86 - $6.80 previously and below $4.35 consensus, on revenues of $4.48B - $4.72B, lower than $4.75B consensus.
• Continuing destocking: FMC expects the destocking activity to continue into next year. While the company's P/E ratio of 9.2 looks very cheap, it may actually not be if earnings continue to fall on a year-over-year basis.

Shares of FMC Corporation (FMC) dropped by 3.46% from $58.12 to $56.11 in the trading on Tuesday, October 24, 2023. The reason why FMC stock down is due to a downgrade rating. Morgan Stanley downgraded FMC's rating from Overweight to Equal-Weight and adjusted the stock's price target from $100 to $70. This rating downgrade and reduced price target had a negative impact on investor sentiment, resulting in the decline in the stock price today.

FMC Corporation Stock (FMC) dropped by 13.19% from $66.95 to $58.12 in the trading on Monday October 23, 2023. The reason why FMC stock down today is due to lower Q3 and FY23 outlook. It is attributed to a decline in sales volume in Latin America, fuelled by destocking in Brazil and a drought in Argentina.

• For Q3: EPS of $0.44 and revenues of $982M, below consensus estimates of $1.01 and $1.2B, respectively.
• For Q4: Revenues of $1.14B - $1.38B, below $1.67B analyst consensus, and adjusted EBITDA of $246M - $306M, down from a previous forecast of $511M-$561M.
• For the full year: Revenues of $4.48B - $4.72B, cut from previous guidance of $5.2B - $5.4B, with adjusted EBITDA of $970M - $1.03B, well below its prior outlook of $1.3B - $1.4B.

FMC Corporation stock was down, falling 11.15% to $92.63 after the company cut second-quarter and full-year guidance, blaming inventory reductions by channel partners. Investors were clearly caught off guard.

https://www.fool.com/investing/2023/07/10/why-fmc-stock-is-plunging-today/