Analysts Expect Freeport-McMoRan Inc. (NYSE:FCX) to Post $0.94 Earnings Per Share

Wall Street brokerages predict that Freeport-McMoRan Inc. (NYSE:FCXGet Rating) will report earnings of $0.94 per share for the current fiscal quarter, according to Zacks. Thirteen analysts have provided estimates for Freeport-McMoRan’s earnings. The highest EPS estimate is $1.07 and the lowest is $0.76. Freeport-McMoRan reported earnings of $0.77 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 22.1%. The business is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Freeport-McMoRan will report full year earnings of $3.80 per share for the current financial year, with EPS estimates ranging from $3.39 to $4.06. For the next financial year, analysts expect that the firm will post earnings of $3.05 per share, with EPS estimates ranging from $1.51 to $5.40. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Freeport-McMoRan.

Freeport-McMoRan (NYSE:FCXGet Rating) last posted its quarterly earnings data on Thursday, April 21st. The natural resource company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.19. The business had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.29 billion. Freeport-McMoRan had a net margin of 20.79% and a return on equity of 24.06%. The business’s revenue was up 36.1% on a year-over-year basis. During the same period last year, the firm posted $0.51 earnings per share.

Several research analysts have recently issued reports on the stock. Wolfe Research decreased their price objective on shares of Freeport-McMoRan from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, January 27th. BMO Capital Markets decreased their price objective on shares of Freeport-McMoRan from $62.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, April 22nd. Jefferies Financial Group raised their target price on shares of Freeport-McMoRan from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, March 24th. BNP Paribas cut shares of Freeport-McMoRan from an “outperform” rating to a “neutral” rating and set a $50.00 target price for the company. in a report on Tuesday, April 5th. Finally, Stifel Nicolaus raised their target price on shares of Freeport-McMoRan from $49.00 to $54.00 in a report on Thursday, March 17th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $46.57.

Freeport-McMoRan stock opened at $35.34 on Thursday. The firm has a 50 day simple moving average of $45.22 and a 200-day simple moving average of $42.40. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.37 and a quick ratio of 1.68. The stock has a market capitalization of $51.22 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 0.31 and a beta of 2.01. Freeport-McMoRan has a 12-month low of $30.02 and a 12-month high of $51.99.

The company also recently declared a quarterly dividend, which was paid on Monday, May 2nd. Investors of record on Thursday, April 14th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, April 13th. This represents a $0.60 annualized dividend and a dividend yield of 1.70%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 8.70%.

In related news, Director Hugh Grant bought 12,300 shares of the business’s stock in a transaction on Monday, April 25th. The stock was bought at an average price of $40.75 per share, for a total transaction of $501,225.00. Following the transaction, the director now directly owns 15,776 shares in the company, valued at $642,872. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.72% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Freeport-McMoRan by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 116,550,170 shares of the natural resource company’s stock worth $5,797,206,000 after buying an additional 1,808,548 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Freeport-McMoRan by 19.5% during the 4th quarter. Capital Research Global Investors now owns 73,817,050 shares of the natural resource company’s stock valued at $3,080,385,000 after purchasing an additional 12,060,475 shares in the last quarter. State Street Corp raised its holdings in shares of Freeport-McMoRan by 0.9% during the 4th quarter. State Street Corp now owns 66,639,592 shares of the natural resource company’s stock valued at $2,780,870,000 after purchasing an additional 611,927 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Freeport-McMoRan by 3.9% during the 1st quarter. Fisher Asset Management LLC now owns 50,750,501 shares of the natural resource company’s stock valued at $2,524,330,000 after purchasing an additional 1,897,056 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Freeport-McMoRan by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 24,550,497 shares of the natural resource company’s stock valued at $1,021,538,000 after purchasing an additional 219,573 shares in the last quarter. Institutional investors own 77.37% of the company’s stock.

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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