In the latest market close, Cleveland-Cliffs (CLF - Free Report) reached $20.28, with a -0.69% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 1.02%. Meanwhile, the Dow lost 1.04%, and the Nasdaq, a tech-heavy index, lost 1.65%.
Shares of the mining company witnessed a gain of 2.61% over the previous month, trailing the performance of the Basic Materials sector with its gain of 2.69% and the S&P 500's gain of 3.64%.
Analysts and investors alike will be keeping a close eye on the performance of Cleveland-Cliffs in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.34, signifying a 409.09% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $5.29 billion, reflecting a 0.14% fall from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.05 per share and revenue of $21.57 billion, indicating changes of +91.59% and -1.95%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Cleveland-Cliffs. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 past month, the Zacks Consensus EPS estimate has shifted 17.33% downward. Cleveland-Cliffs is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Cleveland-Cliffs has a Forward P/E ratio of 9.98 right now. This denotes a discount relative to the industry's average Forward P/E of 16.88.
We can additionally observe that CLF currently boasts a PEG ratio of 0.64. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. CLF's industry had an average PEG ratio of 2.67 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 148, putting it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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In the latest market close, Cleveland-Cliffs (CLF - Free Report) reached $20.28, with a -0.69% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 1.02%. Meanwhile, the Dow lost 1.04%, and the Nasdaq, a tech-heavy index, lost 1.65%.
Shares of the mining company witnessed a gain of 2.61% over the previous month, trailing the performance of the Basic Materials sector with its gain of 2.69% and the S&P 500's gain of 3.64%.
Analysts and investors alike will be keeping a close eye on the performance of Cleveland-Cliffs in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.34, signifying a 409.09% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $5.29 billion, reflecting a 0.14% fall from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.05 per share and revenue of $21.57 billion, indicating changes of +91.59% and -1.95%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Cleveland-Cliffs. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 past month, the Zacks Consensus EPS estimate has shifted 17.33% downward. Cleveland-Cliffs is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Cleveland-Cliffs has a Forward P/E ratio of 9.98 right now. This denotes a discount relative to the industry's average Forward P/E of 16.88.
We can additionally observe that CLF currently boasts a PEG ratio of 0.64. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. CLF's industry had an average PEG ratio of 2.67 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 148, putting it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
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