We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cleveland-Cliffs (CLF) Gains As Market Dips: What You Should Know
Read MoreHide Full Article
Cleveland-Cliffs (CLF - Free Report) closed at $14.25 in the latest trading session, marking a +1.14% move from the prior day. This change outpaced the S&P 500's 0.57% loss on the day. Meanwhile, the Dow lost 0.05%, and the Nasdaq, a tech-heavy index, lost 1.04%.
Heading into today, shares of the mining company had lost 11.83% over the past month, lagging the Basic Materials sector's loss of 0.72% and the S&P 500's gain of 0.64% in that time.
Investors will be hoping for strength from Cleveland-Cliffs as it approaches its next earnings release. On that day, Cleveland-Cliffs is projected to report earnings of $0.51 per share, which would represent year-over-year growth of 75.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.52 billion, down 2.41% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.42 per share and revenue of $22.04 billion, which would represent changes of -53.44% and -4.13%, respectively, from the prior year.
Any recent changes to analyst estimates for Cleveland-Cliffs should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.07% higher within the past month. Cleveland-Cliffs is currently a Zacks Rank #3 (Hold).
Digging into valuation, Cleveland-Cliffs currently has a Forward P/E ratio of 9.95. For comparison, its industry has an average Forward P/E of 10.31, which means Cleveland-Cliffs is trading at a discount to the group.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 39% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Cleveland-Cliffs (CLF) Gains As Market Dips: What You Should Know
Cleveland-Cliffs (CLF - Free Report) closed at $14.25 in the latest trading session, marking a +1.14% move from the prior day. This change outpaced the S&P 500's 0.57% loss on the day. Meanwhile, the Dow lost 0.05%, and the Nasdaq, a tech-heavy index, lost 1.04%.
Heading into today, shares of the mining company had lost 11.83% over the past month, lagging the Basic Materials sector's loss of 0.72% and the S&P 500's gain of 0.64% in that time.
Investors will be hoping for strength from Cleveland-Cliffs as it approaches its next earnings release. On that day, Cleveland-Cliffs is projected to report earnings of $0.51 per share, which would represent year-over-year growth of 75.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.52 billion, down 2.41% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.42 per share and revenue of $22.04 billion, which would represent changes of -53.44% and -4.13%, respectively, from the prior year.
Any recent changes to analyst estimates for Cleveland-Cliffs should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.07% higher within the past month. Cleveland-Cliffs is currently a Zacks Rank #3 (Hold).
Digging into valuation, Cleveland-Cliffs currently has a Forward P/E ratio of 9.95. For comparison, its industry has an average Forward P/E of 10.31, which means Cleveland-Cliffs is trading at a discount to the group.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 39% 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.