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Freeport-McMoRan (FCX) Registers a Bigger Fall Than the Market: Important Facts to Note
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Freeport-McMoRan (FCX - Free Report) closed the most recent trading day at $59.33, moving -2.74% from the previous trading session. This move lagged the S&P 500's daily loss of 0.45%. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq decreased by 1.16%.
Prior to today's trading, shares of the mining company had lost 4.55% lagged the Basic Materials sector's loss of 0.89% and the S&P 500's gain of 2.14%.
Investors will be eagerly watching for the performance of Freeport-McMoRan in its upcoming earnings disclosure. The company is expected to report EPS of $0.6, up 11.11% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $6.35 billion, indicating a 16.25% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.59 per share and a revenue of $27.61 billion, signifying shifts of +46.33% and +6.56%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Freeport-McMoRan. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.15% higher. Currently, Freeport-McMoRan is carrying a Zacks Rank of #3 (Hold).
Investors should also note Freeport-McMoRan's current valuation metrics, including its Forward P/E ratio of 23.51. This valuation marks a premium compared to its industry average Forward P/E of 23.17.
We can also see that FCX currently has a PEG ratio of 0.63. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Mining - Non Ferrous industry had an average PEG ratio of 1.34 as trading concluded yesterday.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 88, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Freeport-McMoRan (FCX) Registers a Bigger Fall Than the Market: Important Facts to Note
Freeport-McMoRan (FCX - Free Report) closed the most recent trading day at $59.33, moving -2.74% from the previous trading session. This move lagged the S&P 500's daily loss of 0.45%. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq decreased by 1.16%.
Prior to today's trading, shares of the mining company had lost 4.55% lagged the Basic Materials sector's loss of 0.89% and the S&P 500's gain of 2.14%.
Investors will be eagerly watching for the performance of Freeport-McMoRan in its upcoming earnings disclosure. The company is expected to report EPS of $0.6, up 11.11% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $6.35 billion, indicating a 16.25% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.59 per share and a revenue of $27.61 billion, signifying shifts of +46.33% and +6.56%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Freeport-McMoRan. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.15% higher. Currently, Freeport-McMoRan is carrying a Zacks Rank of #3 (Hold).
Investors should also note Freeport-McMoRan's current valuation metrics, including its Forward P/E ratio of 23.51. This valuation marks a premium compared to its industry average Forward P/E of 23.17.
We can also see that FCX currently has a PEG ratio of 0.63. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Mining - Non Ferrous industry had an average PEG ratio of 1.34 as trading concluded yesterday.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 88, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.