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Cleveland-Cliffs (CLF) Outperforms Broader Market: What You Need to Know
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The most recent trading session ended with Cleveland-Cliffs (CLF - Free Report) standing at $16.94, reflecting a +0.18% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.03%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq added 0.59%.
Coming into today, shares of the mining company had lost 6.37% in the past month. In that same time, the Basic Materials sector gained 2.94%, while the S&P 500 gained 4.19%.
The investment community will be paying close attention to the earnings performance of Cleveland-Cliffs in its upcoming release. It is anticipated that the company will report an EPS of $0.11, marking an 84.06% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $5.32 billion, showing a 11.04% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $0.95 per share and a revenue of $21.25 billion, demonstrating changes of -11.21% and -3.41%, respectively, from the preceding 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 39.18% lower. Cleveland-Cliffs is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Cleveland-Cliffs is holding a Forward P/E ratio of 17.8. This denotes a premium relative to the industry's average Forward P/E of 17.74.
It's also important to note that CLF currently trades at a PEG ratio of 0.38. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Miscellaneous industry had an average PEG ratio of 3.7 as trading concluded yesterday.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Outperforms Broader Market: What You Need to Know
The most recent trading session ended with Cleveland-Cliffs (CLF - Free Report) standing at $16.94, reflecting a +0.18% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.03%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq added 0.59%.
Coming into today, shares of the mining company had lost 6.37% in the past month. In that same time, the Basic Materials sector gained 2.94%, while the S&P 500 gained 4.19%.
The investment community will be paying close attention to the earnings performance of Cleveland-Cliffs in its upcoming release. It is anticipated that the company will report an EPS of $0.11, marking an 84.06% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $5.32 billion, showing a 11.04% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $0.95 per share and a revenue of $21.25 billion, demonstrating changes of -11.21% and -3.41%, respectively, from the preceding 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 39.18% lower. Cleveland-Cliffs is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Cleveland-Cliffs is holding a Forward P/E ratio of 17.8. This denotes a premium relative to the industry's average Forward P/E of 17.74.
It's also important to note that CLF currently trades at a PEG ratio of 0.38. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Miscellaneous industry had an average PEG ratio of 3.7 as trading concluded yesterday.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.