$0.86 EPS Expected for Freeport-McMoRan Inc. (NYSE:FCX) This Quarter

Brokerages forecast that Freeport-McMoRan Inc. (NYSE:FCXGet Rating) will post $0.86 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Fourteen analysts have issued estimates for Freeport-McMoRan’s earnings, with the highest EPS estimate coming in at $0.97 and the lowest estimate coming in at $0.73. Freeport-McMoRan reported earnings of $0.51 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 68.6%. The business is expected to report its next quarterly earnings report before the market opens on Monday, January 1st.

On average, analysts expect that Freeport-McMoRan will report full year earnings of $3.78 per share for the current fiscal year, with EPS estimates ranging from $2.59 to $4.52. For the next year, analysts anticipate that the firm will post earnings of $3.11 per share, with EPS estimates ranging from $1.51 to $5.47. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Freeport-McMoRan.

Freeport-McMoRan (NYSE:FCXGet Rating) last issued its quarterly earnings results on Wednesday, January 26th. The natural resource company reported $0.96 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.01). Freeport-McMoRan had a return on equity of 21.55% and a net margin of 18.85%. The business had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.48 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The firm’s quarterly revenue was up 37.1% compared to the same quarter last year.

A number of research analysts have weighed in on the stock. Exane BNP Paribas lowered shares of Freeport-McMoRan from an “outperform” rating to a “neutral” rating and set a $50.00 price target on the stock. in a research note on Tuesday, April 5th. Stifel Nicolaus boosted their price objective on shares of Freeport-McMoRan from $49.00 to $54.00 in a research report on Thursday, March 17th. BNP Paribas lowered shares of Freeport-McMoRan from an “outperform” rating to a “neutral” rating and set a $50.00 price objective on the stock. in a research report on Tuesday, April 5th. Wolfe Research cut their price objective on shares of Freeport-McMoRan from $47.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, January 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Freeport-McMoRan from $42.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, April 5th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $44.80.

FCX traded up $1.07 during trading on Thursday, reaching $48.79. The company had a trading volume of 493,204 shares, compared to its average volume of 15,334,840. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.52 and a quick ratio of 1.75. Freeport-McMoRan has a 12 month low of $30.02 and a 12 month high of $51.99. The business’s fifty day moving average price is $46.31 and its 200 day moving average price is $41.34. The company has a market cap of $70.98 billion, a P/E ratio of 16.75, a PEG ratio of 0.44 and a beta of 2.00.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 2nd. Shareholders of record on Thursday, April 14th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, April 13th. This represents a $0.60 annualized dividend and a dividend yield of 1.23%. Freeport-McMoRan’s dividend payout ratio is currently 10.38%.

In related news, CFO Kathleen L. Quirk sold 40,500 shares of the company’s stock in a transaction dated Friday, February 4th. The shares were sold at an average price of $38.55, for a total transaction of $1,561,275.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP C Donald Whitmire, Jr. sold 44,000 shares of the company’s stock in a transaction dated Wednesday, February 9th. The stock was sold at an average price of $43.44, for a total transaction of $1,911,360.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 164,670 shares of company stock worth $7,002,730. Corporate insiders own 0.72% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of FCX. Morgan Stanley lifted its position in Freeport-McMoRan by 22.5% during the second quarter. Morgan Stanley now owns 15,548,768 shares of the natural resource company’s stock worth $577,014,000 after purchasing an additional 2,859,755 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Freeport-McMoRan in the third quarter worth about $80,000. Kestra Private Wealth Services LLC lifted its holdings in shares of Freeport-McMoRan by 6.8% in the third quarter. Kestra Private Wealth Services LLC now owns 26,628 shares of the natural resource company’s stock worth $866,000 after acquiring an additional 1,694 shares during the last quarter. Boenning & Scattergood Inc. bought a new position in shares of Freeport-McMoRan in the third quarter worth about $1,080,000. Finally, Total Clarity Wealth Management Inc. bought a new position in shares of Freeport-McMoRan in the third quarter worth about $47,000. 76.05% of the stock is owned by institutional investors and hedge funds.

About Freeport-McMoRan (Get Rating)

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.

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Earnings History and Estimates for Freeport-McMoRan (NYSE:FCX)

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