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Cleveland-Cliffs (CLF) Stock Sinks As Market Gains: What You Should Know
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Cleveland-Cliffs (CLF - Free Report) closed the most recent trading day at $19.87, moving -0.65% from the previous trading session. This change lagged the S&P 500's daily gain of 0.88%.
Prior to today's trading, shares of the mining company had lost 2.25% over the past month. This has lagged the Basic Materials sector's gain of 4.83% and the S&P 500's gain of 0.15% in that time.
Investors will be hoping for strength from CLF as it approaches its next earnings release. In that report, analysts expect CLF to post earnings of $1.22 per share. This would mark year-over-year growth of 493.55%. Meanwhile, our latest consensus estimate is calling for revenue of $4.75 billion, up 334.97% from the prior-year quarter.
CLF's full-year Zacks Consensus Estimates are calling for earnings of $4.23 per share and revenue of $18.09 billion. These results would represent year-over-year changes of +2388.24% and +237.83%, respectively.
It is also important to note the recent changes to analyst estimates for CLF. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 9.3% higher. CLF currently has a Zacks Rank of #3 (Hold).
In terms of valuation, CLF is currently trading at a Forward P/E ratio of 4.73. This valuation marks a discount compared to its industry's average Forward P/E of 11.73.
It is also worth noting that CLF currently has a PEG ratio of 0.18. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Miscellaneous industry currently had an average PEG ratio of 1.81 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 199, putting it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Cleveland-Cliffs (CLF) Stock Sinks As Market Gains: What You Should Know
Cleveland-Cliffs (CLF - Free Report) closed the most recent trading day at $19.87, moving -0.65% from the previous trading session. This change lagged the S&P 500's daily gain of 0.88%.
Prior to today's trading, shares of the mining company had lost 2.25% over the past month. This has lagged the Basic Materials sector's gain of 4.83% and the S&P 500's gain of 0.15% in that time.
Investors will be hoping for strength from CLF as it approaches its next earnings release. In that report, analysts expect CLF to post earnings of $1.22 per share. This would mark year-over-year growth of 493.55%. Meanwhile, our latest consensus estimate is calling for revenue of $4.75 billion, up 334.97% from the prior-year quarter.
CLF's full-year Zacks Consensus Estimates are calling for earnings of $4.23 per share and revenue of $18.09 billion. These results would represent year-over-year changes of +2388.24% and +237.83%, respectively.
It is also important to note the recent changes to analyst estimates for CLF. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 9.3% higher. CLF currently has a Zacks Rank of #3 (Hold).
In terms of valuation, CLF is currently trading at a Forward P/E ratio of 4.73. This valuation marks a discount compared to its industry's average Forward P/E of 11.73.
It is also worth noting that CLF currently has a PEG ratio of 0.18. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Miscellaneous industry currently had an average PEG ratio of 1.81 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 199, putting it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.