FMC Announces 'Shocking' Outlook: 4 Analysts Dive Deeper Into Prospects
Portfolio Pulse from Priya Nigam
Shares of FMC Corp (NYSE:FMC) continued to decline after the company announced its Q3 and full-year outlook. Analysts from Morgan Stanley, BMO Capital Markets, RBC Capital Markets, and KeyBanc Capital Markets have all provided their take on the situation, with most downgrading their ratings and lowering their price targets for FMC. The company's full-year EBITDA guide down to around $1 billion was described as 'shocking' and represents a 29% YoY contraction in sales.
October 24, 2023 | 4:24 pm
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FMC Corp's shares are under pressure after the company announced a disappointing Q3 and full-year outlook. Analysts have downgraded their ratings and lowered their price targets, indicating a negative short-term impact on the stock.
The company's outlook was described as 'shocking' and represents a 29% YoY contraction in sales. This negative outlook, combined with the downgraded ratings and lowered price targets from analysts, is likely to put downward pressure on the stock in the short term.
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