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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 $15.03, marking a -1.76% move from the previous day. This change lagged the S&P 500's 0.38% gain on the day. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq added 0.54%.
Prior to today's trading, shares of the mining company had lost 13.41% over the past month. This has lagged the Basic Materials sector's loss of 3.29% and the S&P 500's loss of 1.68% in that time.
Cleveland-Cliffs will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.51, up 75.86% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.52 billion, down 2.43% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.42 per share and revenue of $22.04 billion. These totals would mark changes of -53.44% and -4.14%, respectively, from last year.
Any recent changes to analyst estimates for Cleveland-Cliffs should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 11.34% lower 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 10.77. For comparison, its industry has an average Forward P/E of 10.2, which means Cleveland-Cliffs is trading at a premium to the group.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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 $15.03, marking a -1.76% move from the previous day. This change lagged the S&P 500's 0.38% gain on the day. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq added 0.54%.
Prior to today's trading, shares of the mining company had lost 13.41% over the past month. This has lagged the Basic Materials sector's loss of 3.29% and the S&P 500's loss of 1.68% in that time.
Cleveland-Cliffs will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.51, up 75.86% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.52 billion, down 2.43% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.42 per share and revenue of $22.04 billion. These totals would mark changes of -53.44% and -4.14%, respectively, from last year.
Any recent changes to analyst estimates for Cleveland-Cliffs should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 11.34% lower 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 10.77. For comparison, its industry has an average Forward P/E of 10.2, which means Cleveland-Cliffs is trading at a premium to the group.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.