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Should You Buy Cliffs Natural Resources (CLF) Ahead of Earnings?
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Investors are always looking for stocks that are poised to beat at earnings season and Cliffs Natural Resources Inc. (CLF - Free Report) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Cliffs Natural Resources is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings—with the most up-to-date information possible—is a pretty good indicator of some favorable trends underneath the surface for CLF in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at 29 cents per share for CLF, compared to a broader Zacks Consensus Estimate of 25 cents per share. This suggests that analysts have very recently bumped up their estimates for CLF, giving the stock a Zacks Earnings ESP of 16.00% heading into earnings season.
Cliffs Natural Resources Inc. Price and EPS Surprise
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10 year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Clearly, recent earnings estimate revisions suggest that good things are ahead for Cliffs Natural Resources, and that a beat might be in the cards for the upcoming report.
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Should You Buy Cliffs Natural Resources (CLF) Ahead of Earnings?
Investors are always looking for stocks that are poised to beat at earnings season and Cliffs Natural Resources Inc. (CLF - Free Report) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Cliffs Natural Resources is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings—with the most up-to-date information possible—is a pretty good indicator of some favorable trends underneath the surface for CLF in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at 29 cents per share for CLF, compared to a broader Zacks Consensus Estimate of 25 cents per share. This suggests that analysts have very recently bumped up their estimates for CLF, giving the stock a Zacks Earnings ESP of 16.00% heading into earnings season.
Cliffs Natural Resources Inc. Price and EPS Surprise
Cliffs Natural Resources Inc. Price and EPS Surprise | Cliffs Natural Resources Inc. Quote
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10 year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that CLF has a Zacks Rank #2 (Buy) and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Cliffs Natural Resources, and that a beat might be in the cards for the upcoming report.
Just Released – Driverless Cars: Your Roadmap to Mega-Profits Today
In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>