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Cleveland-Cliffs (CLF) Stock Declines While Market Improves: Some Information for Investors
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The most recent trading session ended with Cleveland-Cliffs (CLF - Free Report) standing at $14.71, reflecting a -0.88% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.25% gain on the day. Meanwhile, the Dow experienced a rise of 0.15%, and the technology-dominated Nasdaq saw an increase of 0.03%.
The mining company's shares have seen a decrease of 16.21% over the last month, not keeping up with the Basic Materials sector's loss of 6.9% and the S&P 500's gain of 3.34%.
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 $0.04 per share, which would represent a year-over-year decline of 94.2%. Our most recent consensus estimate is calling for quarterly revenue of $5.28 billion, down 11.8% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.48 per share and a revenue of $21.05 billion, signifying shifts of -55.14% and -4.29%, respectively, from the last year.
Investors might also notice 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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 54.83% lower. As of now, Cleveland-Cliffs holds a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Cleveland-Cliffs has a Forward P/E ratio of 30.7 right now. This expresses a premium compared to the average Forward P/E of 16.08 of its industry.
Also, we should mention that CLF has a PEG ratio of 0.66. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Mining - Miscellaneous industry stood at 2.49 at the close of the market yesterday.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 203, which puts it in the bottom 20% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Cleveland-Cliffs (CLF) Stock Declines While Market Improves: Some Information for Investors
The most recent trading session ended with Cleveland-Cliffs (CLF - Free Report) standing at $14.71, reflecting a -0.88% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.25% gain on the day. Meanwhile, the Dow experienced a rise of 0.15%, and the technology-dominated Nasdaq saw an increase of 0.03%.
The mining company's shares have seen a decrease of 16.21% over the last month, not keeping up with the Basic Materials sector's loss of 6.9% and the S&P 500's gain of 3.34%.
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 $0.04 per share, which would represent a year-over-year decline of 94.2%. Our most recent consensus estimate is calling for quarterly revenue of $5.28 billion, down 11.8% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.48 per share and a revenue of $21.05 billion, signifying shifts of -55.14% and -4.29%, respectively, from the last year.
Investors might also notice 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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 54.83% lower. As of now, Cleveland-Cliffs holds a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Cleveland-Cliffs has a Forward P/E ratio of 30.7 right now. This expresses a premium compared to the average Forward P/E of 16.08 of its industry.
Also, we should mention that CLF has a PEG ratio of 0.66. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Mining - Miscellaneous industry stood at 2.49 at the close of the market yesterday.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 203, which puts it in the bottom 20% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.