Earnings : What to expect Freeport-McMoRan (NYSE:FCX)

Earnings results for Freeport-McMoRan (NYSE:FCX)

Freeport-McMoran, Inc. is expected* to report earnings on 07/22/2021 before market open. The report will be for the fiscal Quarter ending Jun 2021. According to Zacks Investment Research, based on 5 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.73. The reported EPS for the same quarter last year was $0.03.

Freeport-McMoRan last announced its quarterly earnings results on April 22nd, 2021. The natural resource company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Its revenue was up 73.3% on a year-over-year basis. Freeport-McMoRan has generated $0.54 earnings per share over the last year and currently has a price-to-earnings ratio of 28.6. Freeport-McMoRan has confirmed that its next quarterly earnings report will be published on Thursday, July 22nd, 2021. Freeport-McMoRan will be holding an earnings conference call on Thursday, July 22nd at 10:00 AM Eastern. Interested parties can register for or listen to the call using this link.

Analyst Opinion on Freeport-McMoRan (NYSE:FCX)

17 Wall Street analysts have issued ratings and price targets for Freeport-McMoRan in the last 12 months. Their average twelve-month price target is $34.55, predicting that the stock has a possible downside of 0.28%. The high price target for FCX is $60.00 and the low price target for FCX is $14.00. There are currently 1 sell rating, 6 hold ratings, 9 buy ratings and 1 strong buy rating for the stock, resulting in a consensus rating of “Buy.”

Freeport-McMoRan has received a consensus rating of Buy. The company’s average rating score is 2.59, and is based on 9 buy ratings, 6 hold ratings, and 1 sell rating. According to analysts’ consensus price target of $34.55, Freeport-McMoRan has a forecasted downside of 0.3% from its current price of $34.65. Freeport-McMoRan has been the subject of 8 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: Freeport-McMoRan (NYSE:FCX)

Freeport-McMoRan has a dividend yield of 0.91%, which is in the bottom 25% of all stocks that pay dividends. Freeport-McMoRan has only been increasing its dividend for 1 years. The dividend payout ratio of Freeport-McMoRan is 55.56%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Freeport-McMoRan will have a dividend payout ratio of 7.71% next year. This indicates that Freeport-McMoRan will be able to sustain or increase its dividend.

Insiders buying/selling: Freeport-McMoRan (NYSE:FCX)

In the past three months, Freeport-McMoRan insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $3,535,419.00 in company stock. Only 0.72% of the stock of Freeport-McMoRan is held by insiders. 77.16% of the stock of Freeport-McMoRan is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Freeport-McMoRan (NYSE:FCX

Earnings for Freeport-McMoRan are expected to grow by 25.08% in the coming year, from $3.11 to $3.89 per share. The P/E ratio of Freeport-McMoRan is 28.64, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 22.56. The P/E ratio of Freeport-McMoRan is 28.64, which means that it is trading at a less expensive P/E ratio than the Basic Materials sector average P/E ratio of about 29.67. Freeport-McMoRan has a PEG Ratio of 0.37. PEG Ratios below 1 indicate that a company could be undervalued. Freeport-McMoRan has a P/B Ratio of 2.71. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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