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Cleveland-Cliffs (CLF) Gains As Market Dips: What You Should Know
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In the latest trading session, Cleveland-Cliffs (CLF - Free Report) closed at $23.34, marking a +0.69% move from the previous day. This change outpaced the S&P 500's 0.46% loss on the day.
Heading into today, shares of the mining company had lost 9.98% over the past month, lagging the Basic Materials sector's loss of 3.35% and the S&P 500's gain of 1.93% in that time.
CLF will be looking to display strength as it nears its next earnings release. In that report, analysts expect CLF to post earnings of $2.17 per share. This would mark year-over-year growth of 5325%. Our most recent consensus estimate is calling for quarterly revenue of $5.73 billion, up 247.9% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.88 per share and revenue of $20.57 billion, which would represent changes of +3358.82% and +284.2%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for CLF. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 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. The Zacks Consensus EPS estimate has moved 1.79% higher within the past month. CLF is currently a Zacks Rank #1 (Strong Buy).
Valuation is also important, so investors should note that CLF has a Forward P/E ratio of 3.94 right now. For comparison, its industry has an average Forward P/E of 9.61, which means CLF is trading at a discount to the group.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 230, which puts it in the bottom 10% 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.
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) Gains As Market Dips: What You Should Know
In the latest trading session, Cleveland-Cliffs (CLF - Free Report) closed at $23.34, marking a +0.69% move from the previous day. This change outpaced the S&P 500's 0.46% loss on the day.
Heading into today, shares of the mining company had lost 9.98% over the past month, lagging the Basic Materials sector's loss of 3.35% and the S&P 500's gain of 1.93% in that time.
CLF will be looking to display strength as it nears its next earnings release. In that report, analysts expect CLF to post earnings of $2.17 per share. This would mark year-over-year growth of 5325%. Our most recent consensus estimate is calling for quarterly revenue of $5.73 billion, up 247.9% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.88 per share and revenue of $20.57 billion, which would represent changes of +3358.82% and +284.2%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for CLF. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 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. The Zacks Consensus EPS estimate has moved 1.79% higher within the past month. CLF is currently a Zacks Rank #1 (Strong Buy).
Valuation is also important, so investors should note that CLF has a Forward P/E ratio of 3.94 right now. For comparison, its industry has an average Forward P/E of 9.61, which means CLF is trading at a discount to the group.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 230, which puts it in the bottom 10% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.