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Cleveland-Cliffs (CLF) Stock Moves -1.04%: What You Should Know

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Cleveland-Cliffs (CLF - Free Report) closed at $30.45 in the latest trading session, marking a -1.04% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.69%. Elsewhere, the Dow lost 1.19%, while the tech-heavy Nasdaq added 0.14%.

Coming into today, shares of the mining company had gained 18.99% in the past month. In that same time, the Basic Materials sector gained 7.5%, while the S&P 500 gained 7.88%.

Cleveland-Cliffs will be looking to display strength as it nears its next earnings release, which is expected to be April 22, 2022. The company is expected to report EPS of $1.51, up 331.43% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.53 billion, up 36.51% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.52 per share and revenue of $23.1 billion. These totals would mark changes of -5.96% and +12.98%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for Cleveland-Cliffs. These recent revisions tend to reflect the evolving nature of short-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. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 20.72% higher within the past month. Cleveland-Cliffs is currently sporting a Zacks Rank of #3 (Hold).

Looking at its valuation, Cleveland-Cliffs is holding a Forward P/E ratio of 5.58. Its industry sports an average Forward P/E of 9.89, so we one might conclude that Cleveland-Cliffs is trading at a discount comparatively.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 46, putting it in the top 19% 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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