Yahoo Finance FMC Corp Partners With Cyclica to Improve Research Efficiency
FMC Corporation FMC entered a partnership with Cyclica Inc. to improve and accelerate the efficiency of discovering new crop protection chemistry. The terms of the collaboration with Cyclica have been kept under wraps.
Notably, this is one of the first collaborations that FMC is exploring to extend its research of novel active ingredients that protect crops from diseases and destructive pests.
Per management, augmenting traditional research and screening processes with the power of artificial intelligence will allow the company to recognize and examine more molecules rapidly and with greater accuracy.
Cyclica is a leading biotechnology company that specialized in computational biophysics and artificial intelligence. Notably, the company's proprietary AI platforms such as Ligand Design and Ligand Express will be used by FMC to optimize the discovery of novel compounds at a pace well above traditional chemistry discovery research programs. Ligand Design and Ligand Express will analyze millions of chemical structures, providing FMC researchers with a broader volume of high-quality molecule predictions.
The company’s shares have moved down 14.4% in the past year compared with the industry’s 18.8% decline.
On its first-quarter earnings call, FMC expected revenues to be between $4.65 billion and $4.85 billion for 2020, indicating a rise of 3% at the midpoint from that reported in 2019.
The company also expects adjusted earnings per share of $6.05-$6.70 for the year. The guidance suggests an increase of 5% at the midpoint from that reported in 2019.
Moreover, FMC envisions adjusted EBITDA of $1.23-$1.34 billion for 2020, indicating 5% growth at the midpoint versus 2019.
For second-quarter 2020, revenues are projected to be $1.17-$1.23 billion, flat at the midpoint with the second-quarter 2019 number. Adjusted earnings are forecast to be $1.58-$1.74 per share, flat at the midpoint with the second-quarter 2019 figure.
FMC Corporation Price and Consensus
FMC Corporation price-consensus-chart | FMC Corporation Quote
Zacks Rank & Stocks to Consider
The company currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are AngloGold Ashanti Limited AU, Agnico Eagle Mines Limited AEM and Harmony Gold Mining Company Limited HMY.
AngloGold has a projected earnings growth rate of 109.9% for the current year. The company’s shares have surged around 71% in a year. It currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Agnico Eagle has a projected earnings growth rate of 53.6% for the current year. The stock has gained around 24% in a year. It currently has a Zacks Rank of 2.
Harmony Gold has an expected earnings growth rate of 28.6% for 2020. The company’s shares have gained 87.2% in the past year. It is presently a Zacks #2 Ranked player.
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FMC Corporation (FMC) : Free Stock Analysis Report
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