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Freeport-McMoRan (FCX) Stock Sinks As Market Gains: What You Should Know
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Freeport-McMoRan (FCX - Free Report) ended the recent trading session at $43.89, demonstrating a -5.94% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.27%. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq gained 0.37%.
Heading into today, shares of the mining company had gained 12.54% over the past month, outpacing the Basic Materials sector's gain of 5.86% and the S&P 500's gain of 1.85%.
The investment community will be paying close attention to the earnings performance of Freeport-McMoRan in its upcoming release. The company is forecasted to report an EPS of $0.5, showcasing a 31.58% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $6.91 billion, up 1.75% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.75 per share and revenue of $27.39 billion. These totals would mark changes of +18.24% and +7.61%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Freeport-McMoRan. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.15% downward. Freeport-McMoRan is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Freeport-McMoRan is at present trading with a Forward P/E ratio of 26.64. This valuation marks a premium compared to its industry average Forward P/E of 23.94.
It's also important to note that FCX currently trades at a PEG ratio of 0.88. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Mining - Non Ferrous industry stood at 0.83 at the close of the market yesterday.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 30% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Freeport-McMoRan (FCX) Stock Sinks As Market Gains: What You Should Know
Freeport-McMoRan (FCX - Free Report) ended the recent trading session at $43.89, demonstrating a -5.94% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.27%. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq gained 0.37%.
Heading into today, shares of the mining company had gained 12.54% over the past month, outpacing the Basic Materials sector's gain of 5.86% and the S&P 500's gain of 1.85%.
The investment community will be paying close attention to the earnings performance of Freeport-McMoRan in its upcoming release. The company is forecasted to report an EPS of $0.5, showcasing a 31.58% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $6.91 billion, up 1.75% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.75 per share and revenue of $27.39 billion. These totals would mark changes of +18.24% and +7.61%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Freeport-McMoRan. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.15% downward. Freeport-McMoRan is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Freeport-McMoRan is at present trading with a Forward P/E ratio of 26.64. This valuation marks a premium compared to its industry average Forward P/E of 23.94.
It's also important to note that FCX currently trades at a PEG ratio of 0.88. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Mining - Non Ferrous industry stood at 0.83 at the close of the market yesterday.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 30% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.