Preview: Freeport-McMoRan's Earnings
Portfolio Pulse from Benzinga Insights
Freeport-McMoRan (NYSE:FCX) is expected to report an EPS of $0.23 in its upcoming quarterly earnings on January 24, 2024. Investors are looking for an earnings beat and positive guidance for future growth. Despite beating EPS estimates in the past four quarters, FCX's stock price has consistently dropped the following day. The stock is currently trading at $37.48, down 18.03% over the last 52 weeks, indicating a bearish sentiment among long-term shareholders.
January 23, 2024 | 2:01 pm
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Freeport-McMoRan is anticipated to report a quarterly EPS of $0.23. Investors are focused on earnings beat and positive future guidance. Historical data shows stock price declines following earnings beats.
Given the historical trend of stock price declines after earnings beats and the current bearish sentiment indicated by the 18.03% drop over the last 52 weeks, it is likely that FCX's stock price may experience a short-term decline post-earnings announcement, especially if the company fails to provide strong future guidance.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100