Of 20 analysts covering Freeport-McMoRan stock, eight have a Buy or Strong Buy rating and 11 more have Hold ratings. At a price of around $44.15, the shares already trade above their median price target of $40.00. At the high price target of $58.00, the upside potential reaches 31.4%.
Fourth-quarter revenue is forecast at $5.41 billion, up 8.2% sequentially but down 12.2% year over year. Adjusted EPS are forecast at $0.44, up 68.2% sequentially and 54.2% lower year over year. For the full 2022 fiscal year, analysts expect EPS of $2.35, down 24.8%, on sales of $22.53 billion, down 1.4%.
Freeport stock trades at 18.8 times expected 2022 EPS, 22.3 times estimated 2023 earnings of $1.99 and 16.3 times estimated 2024 earnings of $2.71. The stock’s 52-week range is $24.80 to $51.99. The company pays an annual dividend of $0.60 (yield of 1.32%). Total shareholder return for the past 12 months was 9.9%.
NextEra Energy
Shares of regulated electricity company NextEra Energy Inc. (NYSE: NEE) have declined by about 1.7% over the past 12 months. But its dividend yield is among the lowest of regulated power generators at just over 2%, nearly 2 percentage points lower than Duke or Southern Company. NextEra’s share price has risen by 116% over the past five years, while Duke and Southern have posted share price increases of 31.5% and 52%, respectively, over the same period. The big difference is NextEra’s unregulated renewables business, but that has slipped by 15% in the past three months. What will management have to say to that?
Of the 19 ratings on NextEra stock, 16 are Buy or Strong Buy. The other three analysts rate the stock at Hold. At a share price of around $82.50, the upside potential based on a median price target of $96.00 is about 16.4%. At the high price target of $110.00, the implied gain is 33%.
Fourth-quarter revenue is forecast to come in at $6.66 billion, down 0.9% sequentially but up almost 32% year over year. Adjusted EPS are forecast at $0.50, down 41.7% sequentially but 26.8% higher year over year. For the full 2022 fiscal year, estimates call for EPS of $2.88, up 13.1%, on sales of $21.57 billion, up 26.4%.
NextEra shares trade at 28.6 times expected 2022 EPS, 26.6 times estimated 2023 earnings of $3.11 and 24.3 times estimated 2024 earnings of $3.39 per share. The stock’s 52-week range is $67.22 to $91.35, and NextEra pays an annual dividend of $1.70 (yield of 2.08%). Total shareholder return over the past 12 months was about 2.2%.
Originally published at 24/7 Wall St.
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
