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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 $17.16, marking a -0.69% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.11%. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, added 0.56%.
Shares of the mining company have depreciated by 1.82% over the course of the past month, underperforming the Basic Materials sector's gain of 4.25% and the S&P 500's gain of 5.06%.
The upcoming earnings release of Cleveland-Cliffs will be of great interest to investors. On that day, Cleveland-Cliffs is projected to report earnings of $0.11 per share, which would represent a year-over-year decline of 84.06%. In the meantime, our current consensus estimate forecasts the revenue to be $5.32 billion, indicating a 11.04% decline compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.95 per share and a revenue of $21.25 billion, indicating changes of -11.21% and -3.41%, respectively, from the former year.
Investors should also pay attention to any latest changes in 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, the Zacks Consensus EPS estimate has moved 22.29% lower. Cleveland-Cliffs currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Cleveland-Cliffs is presently trading at a Forward P/E ratio of 18.19. This indicates a premium in contrast to its industry's Forward P/E of 17.84.
We can also see that CLF currently has a PEG ratio of 0.39. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Mining - Miscellaneous industry had an average PEG ratio of 3.69.
The Mining - Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 189, placing it within the bottom 25% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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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 $17.16, marking a -0.69% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.11%. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, added 0.56%.
Shares of the mining company have depreciated by 1.82% over the course of the past month, underperforming the Basic Materials sector's gain of 4.25% and the S&P 500's gain of 5.06%.
The upcoming earnings release of Cleveland-Cliffs will be of great interest to investors. On that day, Cleveland-Cliffs is projected to report earnings of $0.11 per share, which would represent a year-over-year decline of 84.06%. In the meantime, our current consensus estimate forecasts the revenue to be $5.32 billion, indicating a 11.04% decline compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.95 per share and a revenue of $21.25 billion, indicating changes of -11.21% and -3.41%, respectively, from the former year.
Investors should also pay attention to any latest changes in 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, the Zacks Consensus EPS estimate has moved 22.29% lower. Cleveland-Cliffs currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Cleveland-Cliffs is presently trading at a Forward P/E ratio of 18.19. This indicates a premium in contrast to its industry's Forward P/E of 17.84.
We can also see that CLF currently has a PEG ratio of 0.39. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Mining - Miscellaneous industry had an average PEG ratio of 3.69.
The Mining - Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 189, placing it within the bottom 25% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.