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FMC Corp (FMC) Hits New 52-Week High: What's Driving It?
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Shares of FMC Corporation (FMC - Free Report) scaled a fresh 52-week high of $96.02 on Dec 26, before eventually closing the day at $95.54.
FMC Corp. has a market cap of roughly $12.8 billion. Average volume of shares traded in the last three months is around 1,071.1K. The company has an expected long-term EPS growth of 11.3%.
Shares of FMC Corp. have moved up 8.6% in the last three months, outperforming the industry’s 5.8% growth.
Driving Factors
In November, FMC Corp. raised its earnings outlook for 2017 and now sees adjusted earnings in the range of $2.59-$2.69 per share for the year (up from the prior view of $2.30-$2.50), which includes the impact of two months contribution from the DuPont Crop Protection acquisition.
The company is gaining from its strategic investments, acquisitions and efforts to expand its market position and strengthen its portfolio. Upbeat prospects for the company’s Lithium unit have also provided a boost to its shares.
FMC Corp. is witnessing strong momentum in its Lithium unit. The company is expanding its lithium hydroxide production capacity. It is executing this expansion in three phases. The move is based on the growing demand for electric vehicles.
FMC Corp. has executed its Phase I lithium hydroxide expansion on time and budget, achieving 9,000 metric tons of production run rate in September 2017. The Phase 2 expansion is expected to add another 12,000 metric tons of capacity. The company expects its lithium business to deliver strong earnings growth in 2017.
Acquisitions are also adding strength to the company’s agricultural business. The acquisition of a major portion of DuPont's Crop Protection business has provided a significant growth platform for FMC’s Agricultural Solutions unit. The buyout significantly increases the company’s presence in Asia and Europe.
Westlake Chemical has an expected long-term earnings growth rate of 10.6%. Its shares have soared 88.4% year to date.
Daqo New Energy has an expected long-term earnings growth rate of 7%. Its shares have rallied a whopping 174.1% year to date.
Kronos Worldwide has an expected long-term earnings growth rate of 5%. Its shares have surged 121.1% year to date.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Image: Bigstock
FMC Corp (FMC) Hits New 52-Week High: What's Driving It?
Shares of FMC Corporation (FMC - Free Report) scaled a fresh 52-week high of $96.02 on Dec 26, before eventually closing the day at $95.54.
FMC Corp. has a market cap of roughly $12.8 billion. Average volume of shares traded in the last three months is around 1,071.1K. The company has an expected long-term EPS growth of 11.3%.
Shares of FMC Corp. have moved up 8.6% in the last three months, outperforming the industry’s 5.8% growth.
Driving Factors
In November, FMC Corp. raised its earnings outlook for 2017 and now sees adjusted earnings in the range of $2.59-$2.69 per share for the year (up from the prior view of $2.30-$2.50), which includes the impact of two months contribution from the DuPont Crop Protection acquisition.
The company is gaining from its strategic investments, acquisitions and efforts to expand its market position and strengthen its portfolio. Upbeat prospects for the company’s Lithium unit have also provided a boost to its shares.
FMC Corp. is witnessing strong momentum in its Lithium unit. The company is expanding its lithium hydroxide production capacity. It is executing this expansion in three phases. The move is based on the growing demand for electric vehicles.
FMC Corp. has executed its Phase I lithium hydroxide expansion on time and budget, achieving 9,000 metric tons of production run rate in September 2017. The Phase 2 expansion is expected to add another 12,000 metric tons of capacity. The company expects its lithium business to deliver strong earnings growth in 2017.
Acquisitions are also adding strength to the company’s agricultural business. The acquisition of a major portion of DuPont's Crop Protection business has provided a significant growth platform for FMC’s Agricultural Solutions unit. The buyout significantly increases the company’s presence in Asia and Europe.
FMC Corporation Price and Consensus
FMC Corporation Price and Consensus | FMC Corporation Quote
Zacks Rank & Other Stocks to Consider
FMC Corp. currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the basic materials space are Westlake Chemical Corporation (WLK - Free Report) , Daqo New Energy Corp. (DQ - Free Report) and Kronos Worldwide Inc. (KRO - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Westlake Chemical has an expected long-term earnings growth rate of 10.6%. Its shares have soared 88.4% year to date.
Daqo New Energy has an expected long-term earnings growth rate of 7%. Its shares have rallied a whopping 174.1% year to date.
Kronos Worldwide has an expected long-term earnings growth rate of 5%. Its shares have surged 121.1% year to date.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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