Cliffs Natural Resources Inc. (CLF - Free Report) is a leading mining and natural resources company. Cliffs is the largest producer of iron ore pellets in North America.
Cliffs is focused on deleveraging its balance sheet, improving the cost structure and managing cash efficiently. The company is expected to gain from ArcelorMittal and U.S. Steel Canada deals and an expected rise in steel demand in the U.S.
Let’s have a quick look at this Ohio-based company’s fourth-quarter 2016 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Cliffs for the fourth quarter has seen an uptrend over the past month. Cliffs has beaten the Zacks Consensus Estimate in 3 of the trailing 4 quarters, while missing in one, with an average positive beat of around 55.40%.
Earnings
Cliffs’ adjusted earnings for the quarter came in at 41 cents per share, beating the Zacks Consensus Estimate of 25 cents.
Revenues
Cliffs reported revenues of $754 million. That also beat the Zacks Consensus Estimate of $688.5 million.
Key Stats/Developments to Note
For 2017, Cliffs expects to generate net income of $510 million. The company projects its full-year selling, general and administrative (SG&A) expenses to be around $100 million, an $18 million decrease from 2016. Cliffs expects its 2017 capital expenditures to be $105 million.
Zacks Rank
Currently, Cliffs has a Zacks Rank #2 (Buy).
Market Reaction
Cliffs’ shares were up around 9% in the pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Cliffs’ earnings report!
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Cliffs Natural Resources Inc. (CLF - Free Report) is a leading mining and natural resources company. Cliffs is the largest producer of iron ore pellets in North America.
Cliffs is focused on deleveraging its balance sheet, improving the cost structure and managing cash efficiently. The company is expected to gain from ArcelorMittal and U.S. Steel Canada deals and an expected rise in steel demand in the U.S.
Let’s have a quick look at this Ohio-based company’s fourth-quarter 2016 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Cliffs for the fourth quarter has seen an uptrend over the past month. Cliffs has beaten the Zacks Consensus Estimate in 3 of the trailing 4 quarters, while missing in one, with an average positive beat of around 55.40%.
Earnings
Cliffs’ adjusted earnings for the quarter came in at 41 cents per share, beating the Zacks Consensus Estimate of 25 cents.
Revenues
Cliffs reported revenues of $754 million. That also beat the Zacks Consensus Estimate of $688.5 million.
Key Stats/Developments to Note
For 2017, Cliffs expects to generate net income of $510 million. The company projects its full-year selling, general and administrative (SG&A) expenses to be around $100 million, an $18 million decrease from 2016. Cliffs expects its 2017 capital expenditures to be $105 million.
Zacks Rank
Currently, Cliffs has a Zacks Rank #2 (Buy).
Market Reaction
Cliffs’ shares were up around 9% in the pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Cliffs’ earnings report!
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank.They are our primary picks to buy and hold. Be among the very first to see them >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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