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Cleveland-Cliffs (CLF) Exceeds Market Returns: Some Facts to Consider
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In the latest trading session, Cleveland-Cliffs (CLF - Free Report) closed at $11.35, marking a +1.98% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.75%. Elsewhere, the Dow gained 0.58%, while the tech-heavy Nasdaq added 1%.
Shares of the mining company have depreciated by 11.32% over the course of the past month, underperforming the Basic Materials sector's gain of 0.53% and the S&P 500's gain of 4.03%.
The upcoming earnings release of Cleveland-Cliffs will be of great interest to investors. The company's upcoming EPS is projected at -$0.16, signifying a 129.63% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $4.86 billion, reflecting a 13.21% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.01 per share and a revenue of $20.17 billion, representing changes of -99.07% and -8.29%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Cleveland-Cliffs. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 91.03% decrease. Currently, Cleveland-Cliffs is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Cleveland-Cliffs is holding a Forward P/E ratio of 954. Its industry sports an average Forward P/E of 13.44, so one might conclude that Cleveland-Cliffs is trading at a premium comparatively.
We can also see that CLF currently has a PEG ratio of 21.57. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Mining - Miscellaneous industry had an average PEG ratio of 2.18 as trading concluded yesterday.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Cleveland-Cliffs (CLF) Exceeds Market Returns: Some Facts to Consider
In the latest trading session, Cleveland-Cliffs (CLF - Free Report) closed at $11.35, marking a +1.98% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.75%. Elsewhere, the Dow gained 0.58%, while the tech-heavy Nasdaq added 1%.
Shares of the mining company have depreciated by 11.32% over the course of the past month, underperforming the Basic Materials sector's gain of 0.53% and the S&P 500's gain of 4.03%.
The upcoming earnings release of Cleveland-Cliffs will be of great interest to investors. The company's upcoming EPS is projected at -$0.16, signifying a 129.63% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $4.86 billion, reflecting a 13.21% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.01 per share and a revenue of $20.17 billion, representing changes of -99.07% and -8.29%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Cleveland-Cliffs. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 91.03% decrease. Currently, Cleveland-Cliffs is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Cleveland-Cliffs is holding a Forward P/E ratio of 954. Its industry sports an average Forward P/E of 13.44, so one might conclude that Cleveland-Cliffs is trading at a premium comparatively.
We can also see that CLF currently has a PEG ratio of 21.57. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Mining - Miscellaneous industry had an average PEG ratio of 2.18 as trading concluded yesterday.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.