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Cleveland-Cliffs (CLF) Stock Moves -0.64%: What You Should Know
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Cleveland-Cliffs (CLF - Free Report) closed at $18.75 in the latest trading session, marking a -0.64% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.44%. Meanwhile, the Dow lost 1.45%, and the Nasdaq, a tech-heavy index, lost 0.41%.
Coming into today, shares of the mining company had lost 20.68% in the past month. In that same time, the Basic Materials sector lost 2.15%, while the S&P 500 lost 3.72%.
Investors will be hoping for strength from Cleveland-Cliffs as it approaches its next earnings release, which is expected to be February 11, 2022. On that day, Cleveland-Cliffs is projected to report earnings of $2.03 per share, which would represent year-over-year growth of 745.83%. Our most recent consensus estimate is calling for quarterly revenue of $5.42 billion, up 140.22% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Cleveland-Cliffs. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 3.14% higher. Cleveland-Cliffs is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Cleveland-Cliffs is currently trading at a Forward P/E ratio of 3.33. This valuation marks a discount compared to its industry's average Forward P/E of 10.13.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 182, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow CLF in the coming trading sessions, be sure to utilize Zacks.com.
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Cleveland-Cliffs (CLF) Stock Moves -0.64%: What You Should Know
Cleveland-Cliffs (CLF - Free Report) closed at $18.75 in the latest trading session, marking a -0.64% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.44%. Meanwhile, the Dow lost 1.45%, and the Nasdaq, a tech-heavy index, lost 0.41%.
Coming into today, shares of the mining company had lost 20.68% in the past month. In that same time, the Basic Materials sector lost 2.15%, while the S&P 500 lost 3.72%.
Investors will be hoping for strength from Cleveland-Cliffs as it approaches its next earnings release, which is expected to be February 11, 2022. On that day, Cleveland-Cliffs is projected to report earnings of $2.03 per share, which would represent year-over-year growth of 745.83%. Our most recent consensus estimate is calling for quarterly revenue of $5.42 billion, up 140.22% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Cleveland-Cliffs. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 3.14% higher. Cleveland-Cliffs is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Cleveland-Cliffs is currently trading at a Forward P/E ratio of 3.33. This valuation marks a discount compared to its industry's average Forward P/E of 10.13.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 182, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow CLF in the coming trading sessions, be sure to utilize Zacks.com.