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FMC Corp (FMC) Announces Increase in Quarterly Dividend by 10%
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FMC Corporation’s (FMC - Free Report) board recently declared a regular quarterly dividend of 53 cents per share, up 10% from the prior payout of 48 cents. The dividend is payable on Jan 20, 2022, to shareholders of record as of the close of business on Dec 31, 2021.
FMC Corp has increased its dividend for the fourth consecutive year. The company is committed to increasing the dividend at or above the rate of earnings growth moving forward.
The company had cash and cash equivalents of $341 million at the end of the third quarter, up roughly 15% year over year. It repurchased shares worth $200 million in the third quarter.
FMC Corp’s shares have declined 7.1% in the past year compared with a 9.2% rise of the industry.
Image Source: Zacks Investment Research
FMC Corp, in its last earnings call, stated that it continues to expect revenues between $4.9-$5.1 billion for 2021, indicating a rise of 8% at the midpoint versus 2020. The company also reaffirmed its adjusted EBITDA guidance in the band of $1.29-$1.35 billion for 2021, indicating a 6% rise at the midpoint from 2020 levels.
FMC raised its adjusted earnings per share outlook for 2021 to the range of $6.59-$6.99 from $6.54-$6.94 expected earlier, suggesting an increase of 10% at the midpoint compared with 2020 levels. Free cash flow for 2021 is projected to be $480-$570 million, indicating a 4% year-over-year decline. The company also expects to buyback $350-$450 million shares in 2021.
For fourth-quarter 2021, revenues are projected in the band of $1.27-$1.47 billion, reflecting an increase of 19% at the midpoint compared with the prior-year quarter’s levels. Adjusted earnings are forecast in the range of $1.80-$2.20 per share, representing an increase of 41% at the midpoint compared with the prior-year quarter’s tally.
FMC Corp currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Nutrien Ltd. (NTR - Free Report) , The Chemours Company (CC - Free Report) and AdvanSix Inc. (ASIX - Free Report) .
Nutrien has an expected earnings growth rate of 233.3% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised 16.3% upward in the past 60 days.
Nutrien beat the Zacks Consensus Estimate for earnings in three of the last four quarters. The company has a trailing four-quarter earnings surprise of roughly 73.5%, on average. The stock has increased 53.8% in a year. NTR currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Chemours has an expected earnings growth rate of 105.1% for the current year. The Zacks Consensus Estimate for the current year has been revised 10% upward in the past 60 days.
Chemours beat the Zacks Consensus Estimate for earnings in all of the last four quarters. The company has a trailing four-quarter earnings surprise of roughly 34.2%, on average. CC has increased 20% over a year. Chemours currently sports a Zacks Rank #1.
AdvanSix has a projected earnings growth rate of 194.5% for the current year. ASIX's consensus estimate for the current year has been revised 5.9% upward in the past 60 days.
AdvanSix beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 46.9%. ASIX has rallied 123.5% in a year. AdvanSix currently carries a Zacks Rank #2 (Buy).
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FMC Corp (FMC) Announces Increase in Quarterly Dividend by 10%
FMC Corporation’s (FMC - Free Report) board recently declared a regular quarterly dividend of 53 cents per share, up 10% from the prior payout of 48 cents. The dividend is payable on Jan 20, 2022, to shareholders of record as of the close of business on Dec 31, 2021.
FMC Corp has increased its dividend for the fourth consecutive year. The company is committed to increasing the dividend at or above the rate of earnings growth moving forward.
The company had cash and cash equivalents of $341 million at the end of the third quarter, up roughly 15% year over year. It repurchased shares worth $200 million in the third quarter.
FMC Corp’s shares have declined 7.1% in the past year compared with a 9.2% rise of the industry.
FMC Corp, in its last earnings call, stated that it continues to expect revenues between $4.9-$5.1 billion for 2021, indicating a rise of 8% at the midpoint versus 2020. The company also reaffirmed its adjusted EBITDA guidance in the band of $1.29-$1.35 billion for 2021, indicating a 6% rise at the midpoint from 2020 levels.
FMC raised its adjusted earnings per share outlook for 2021 to the range of $6.59-$6.99 from $6.54-$6.94 expected earlier, suggesting an increase of 10% at the midpoint compared with 2020 levels. Free cash flow for 2021 is projected to be $480-$570 million, indicating a 4% year-over-year decline. The company also expects to buyback $350-$450 million shares in 2021.
For fourth-quarter 2021, revenues are projected in the band of $1.27-$1.47 billion, reflecting an increase of 19% at the midpoint compared with the prior-year quarter’s levels. Adjusted earnings are forecast in the range of $1.80-$2.20 per share, representing an increase of 41% at the midpoint compared with the prior-year quarter’s tally.
FMC Corporation Price and Consensus
FMC Corporation price-consensus-chart | FMC Corporation Quote
Zacks Rank & Key Picks
FMC Corp currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Nutrien Ltd. (NTR - Free Report) , The Chemours Company (CC - Free Report) and AdvanSix Inc. (ASIX - Free Report) .
Nutrien has an expected earnings growth rate of 233.3% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised 16.3% upward in the past 60 days.
Nutrien beat the Zacks Consensus Estimate for earnings in three of the last four quarters. The company has a trailing four-quarter earnings surprise of roughly 73.5%, on average. The stock has increased 53.8% in a year. NTR currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Chemours has an expected earnings growth rate of 105.1% for the current year. The Zacks Consensus Estimate for the current year has been revised 10% upward in the past 60 days.
Chemours beat the Zacks Consensus Estimate for earnings in all of the last four quarters. The company has a trailing four-quarter earnings surprise of roughly 34.2%, on average. CC has increased 20% over a year. Chemours currently sports a Zacks Rank #1.
AdvanSix has a projected earnings growth rate of 194.5% for the current year. ASIX's consensus estimate for the current year has been revised 5.9% upward in the past 60 days.
AdvanSix beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 46.9%. ASIX has rallied 123.5% in a year. AdvanSix currently carries a Zacks Rank #2 (Buy).