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Cleveland-Cliffs (CLF) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Cleveland-Cliffs (CLF - Free Report) closed at $22.96, marking a -1.12% move from the previous day. This change lagged the S&P 500's daily gain of 0.47%.
Heading into today, shares of the mining company had gained 16.27% over the past month, outpacing the Basic Materials sector's loss of 2.29% and the S&P 500's loss of 0.12% in that time.
CLF will be looking to display strength as it nears its next earnings release. On that day, CLF is projected to report earnings of $1.18 per share, which would represent year-over-year growth of 480.65%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.75 billion, up 334.97% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.45 per share and revenue of $18.09 billion, which would represent changes of +2517.65% and +237.83%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for CLF. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 has moved 12.66% higher. CLF is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, CLF currently has a Forward P/E ratio of 5.22. For comparison, its industry has an average Forward P/E of 11.34, which means CLF is trading at a discount to the group.
Also, we should mention that CLF has a PEG ratio of 0.19. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Miscellaneous industry currently had an average PEG ratio of 2.13 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 175, putting it in the bottom 32% 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 Sinks As Market Gains: What You Should Know
In the latest trading session, Cleveland-Cliffs (CLF - Free Report) closed at $22.96, marking a -1.12% move from the previous day. This change lagged the S&P 500's daily gain of 0.47%.
Heading into today, shares of the mining company had gained 16.27% over the past month, outpacing the Basic Materials sector's loss of 2.29% and the S&P 500's loss of 0.12% in that time.
CLF will be looking to display strength as it nears its next earnings release. On that day, CLF is projected to report earnings of $1.18 per share, which would represent year-over-year growth of 480.65%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.75 billion, up 334.97% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.45 per share and revenue of $18.09 billion, which would represent changes of +2517.65% and +237.83%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for CLF. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 has moved 12.66% higher. CLF is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, CLF currently has a Forward P/E ratio of 5.22. For comparison, its industry has an average Forward P/E of 11.34, which means CLF is trading at a discount to the group.
Also, we should mention that CLF has a PEG ratio of 0.19. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Miscellaneous industry currently had an average PEG ratio of 2.13 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 175, putting it in the bottom 32% 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.