Freeport-McMoRan Inc (NYSE:FCX) after opening the company’s stock at the price of $11.86, its shares traded on 0.17% above secure line. The stock exchanged hands 17,733,064 shares versus average trading capacity of 23.24M shares. It has a market cap of $17.38B.
Wall Street analysts are predicting that Freeport-McMoRan Inc (NYSE:FCX) will report earnings per share of $0.24 in their quarterly report. The firm is expected to announce results on 7/25/17.
For the current quarter Freeport-McMoRan Inc (NYSE:FCX) has high EPS estimates of $0.46 in contradiction of low EPS estimates of $0.14. However a year ago for the same quarter the company has reported -$0.02 EPS. Average estimation for the current quarter has been provided by 17 analysts.
Investors as well as the sell-side will be paying close attention to how the actual numbers compare with the estimates. Earnings surprises can have a huge impact on a company’s stock price. Several studies suggest that positive earnings surprises not only lead to an immediate hike in a stock’s price, but also to a gradual increase over time. Hence, it’s not surprising that some companies are known for routinely beating earning projections. A negative earnings surprise will usually result in a decline in share price.
A large surprise factor in either direction typically can lead to a significant swing in the stock price in the hours and days after the report. Previously Freeport-McMoRan Inc (NYSE:FCX) reported $0.15 earnings per share (EPS) for the quarter on 4/25/2017 Before Market Open, missing the consensus estimate of $0.17 by -$0.02 with surprise factor of -11.76%.
Freeport-McMoRan Inc (NYSE:FCX) has average revenue estimates of $3.88B, compared to low analyst estimates of $3.13B and high estimates of $4.28B for the current quarter. A total number of 8 analysts provided estimations over revenues. For the next quarter the company has anticipated average revenues of $4.07B, according to the sentiments of 7 analysts.
Taking a broader look at the analyst consensus, most recently Freeport-McMoRan Inc (NYSE:FCX)’s price target was revised on 05/01/17 and according to 19 analysts stock’s price will reach at $15.03 during 52 weeks with standard deviation of 3.42. Freeport-McMoRan Inc (NYSE:FCX)’s minimum price target estimates has been figured out at $8.00 while the maximum price target forecast is established at $21.00, if we look at the price target with an optimistic approach it has upside potential of 78% from its latest closing price of $11.77.
On the other hand Freeport-McMoRan Inc (NYSE:FCX) has Relative Strength Index (RSI 14) of 41.62 along with Average True Range (ATR 14) of 0.41, where the relative strength index (RSI) is a technical momentum indicator that compares the magnitude of recent gains to recent losses in an attempt to determine excess buying & selling conditions of an asset, it is one of the most popular technical indicators, computed on the basis of the speed and direction of a stock’s price movement. The RSI value will always move between 0 and 100; the value will be 0 if the stock falls on all 14 days, and 100, if the price moves up on all the days) as suggested by J Welles Wilder. In terms of market analysis and trading signals, RSI moving above the horizontal 30 reference level is viewed as a bullish indicator, while the RSI moving below the horizontal 70 reference level is seen to be a bearish indicator. The level of 50 represents neutral market momentum and corresponds with the center line in other oscillators such as MACD (Moving Average Convergence/Divergence). The average true range (ATR) is a measure of volatility introduced by Welles Wilder. Consequently Freeport-McMoRan Inc (NYSE:FCX)’s weekly and monthly volatility is 2.02%, 3.30% respectively.
In terms of Buy, Sell or Hold recommendations, Freeport-McMoRan Inc (NYSE:FCX) has an average broker recommendation of 2.53. This is according to a simplified 1 to 5 scale where 1 represents a Strong Buy and 5 a Strong Sell. There are currently 12 recommendations in total that have been tracked in order to arrive at this number, of those, 4 have given the shares a Strong Buy while 0 are recommending a Buy, 6 have given the stock a Hold rating, 1 a Sell and 1 a Strong Sell.