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Cleveland-Cliffs (CLF) Gains But Lags Market: What You Should Know
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In the latest trading session, Cleveland-Cliffs (CLF - Free Report) closed at $25.34, marking a +0.92% move from the previous day. The stock lagged the S&P 500's daily gain of 2.14%. Elsewhere, the Dow gained 1.82%, while the tech-heavy Nasdaq lost 0.01%.
Prior to today's trading, shares of the mining company had gained 35.95% over the past month. This has outpaced the Basic Materials sector's gain of 3.08% and the S&P 500's loss of 5.01% in that time.
Cleveland-Cliffs will be looking to display strength as it nears its next earnings release. On that day, Cleveland-Cliffs is projected to report earnings of $1.80 per share, which would represent year-over-year growth of 414.29%. Our most recent consensus estimate is calling for quarterly revenue of $5.82 billion, up 43.62% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.88 per share and revenue of $21.28 billion. These totals would mark changes of -16.87% and +4.07%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Cleveland-Cliffs. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 13.98% lower within the past month. Cleveland-Cliffs is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Cleveland-Cliffs's current valuation metrics, including its Forward P/E ratio of 5.15. This represents a discount compared to its industry's average Forward P/E of 10.8.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 99, putting it in the top 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Cleveland-Cliffs (CLF) Gains But Lags Market: What You Should Know
In the latest trading session, Cleveland-Cliffs (CLF - Free Report) closed at $25.34, marking a +0.92% move from the previous day. The stock lagged the S&P 500's daily gain of 2.14%. Elsewhere, the Dow gained 1.82%, while the tech-heavy Nasdaq lost 0.01%.
Prior to today's trading, shares of the mining company had gained 35.95% over the past month. This has outpaced the Basic Materials sector's gain of 3.08% and the S&P 500's loss of 5.01% in that time.
Cleveland-Cliffs will be looking to display strength as it nears its next earnings release. On that day, Cleveland-Cliffs is projected to report earnings of $1.80 per share, which would represent year-over-year growth of 414.29%. Our most recent consensus estimate is calling for quarterly revenue of $5.82 billion, up 43.62% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.88 per share and revenue of $21.28 billion. These totals would mark changes of -16.87% and +4.07%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Cleveland-Cliffs. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 13.98% lower within the past month. Cleveland-Cliffs is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Cleveland-Cliffs's current valuation metrics, including its Forward P/E ratio of 5.15. This represents a discount compared to its industry's average Forward P/E of 10.8.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 99, putting it in the top 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.