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Cleveland-Cliffs (CLF) Stock Moves -0.42%: What You Should Know
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Cleveland-Cliffs (CLF - Free Report) closed the most recent trading day at $16.69, moving -0.42% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.48%. Meanwhile, the Dow lost 0.46%, and the Nasdaq, a tech-heavy index, lost 3.02%.
Prior to today's trading, shares of the mining company had lost 3.84% over the past month. This has lagged the Basic Materials sector's gain of 3.94% and the S&P 500's gain of 1.23% in that time.
CLF will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.12, up 200% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.02 billion, up 1020.76% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.04 per share and revenue of $17.8 billion, which would represent changes of +1688.24% and +232.48%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for CLF. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CLF is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note CLF's current valuation metrics, including its Forward P/E ratio of 5.51. Its industry sports an average Forward P/E of 11.31, so we one might conclude that CLF is trading at a discount comparatively.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Cleveland-Cliffs (CLF) Stock Moves -0.42%: What You Should Know
Cleveland-Cliffs (CLF - Free Report) closed the most recent trading day at $16.69, moving -0.42% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.48%. Meanwhile, the Dow lost 0.46%, and the Nasdaq, a tech-heavy index, lost 3.02%.
Prior to today's trading, shares of the mining company had lost 3.84% over the past month. This has lagged the Basic Materials sector's gain of 3.94% and the S&P 500's gain of 1.23% in that time.
CLF will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.12, up 200% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.02 billion, up 1020.76% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.04 per share and revenue of $17.8 billion, which would represent changes of +1688.24% and +232.48%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for CLF. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CLF is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note CLF's current valuation metrics, including its Forward P/E ratio of 5.51. Its industry sports an average Forward P/E of 11.31, so we one might conclude that CLF is trading at a discount comparatively.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.