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Cleveland-Cliffs (CLF) Flat As Market Gains: What You Should Know
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Cleveland-Cliffs (CLF - Free Report) closed at $20.87 in the latest trading session, marking no change from the prior day. This change lagged the S&P 500's 0.51% gain on the day.
Coming into today, shares of the mining company had gained 12.45% in the past month. In that same time, the Basic Materials sector lost 4.88%, while the S&P 500 gained 1.75%.
Wall Street will be looking for positivity from CLF as it approaches its next earnings report date. This is expected to be July 22, 2021. The company is expected to report EPS of $1.47, up 574.19% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.98 billion, up 355.65% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.44 per share and revenue of $19.22 billion, which would represent changes of +2511.76% and +258.95%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for CLF. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 23.1% higher. CLF is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that CLF has a Forward P/E ratio of 4.7 right now. For comparison, its industry has an average Forward P/E of 10.73, which means CLF is trading at a discount to the group.
We can also see that CLF currently has a PEG ratio of 0.22. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Mining - Miscellaneous stocks are, on average, holding a PEG ratio of 1.72 based on yesterday's closing prices.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 188, putting it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Cleveland-Cliffs (CLF) Flat As Market Gains: What You Should Know
Cleveland-Cliffs (CLF - Free Report) closed at $20.87 in the latest trading session, marking no change from the prior day. This change lagged the S&P 500's 0.51% gain on the day.
Coming into today, shares of the mining company had gained 12.45% in the past month. In that same time, the Basic Materials sector lost 4.88%, while the S&P 500 gained 1.75%.
Wall Street will be looking for positivity from CLF as it approaches its next earnings report date. This is expected to be July 22, 2021. The company is expected to report EPS of $1.47, up 574.19% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.98 billion, up 355.65% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.44 per share and revenue of $19.22 billion, which would represent changes of +2511.76% and +258.95%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for CLF. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 23.1% higher. CLF is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that CLF has a Forward P/E ratio of 4.7 right now. For comparison, its industry has an average Forward P/E of 10.73, which means CLF is trading at a discount to the group.
We can also see that CLF currently has a PEG ratio of 0.22. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Mining - Miscellaneous stocks are, on average, holding a PEG ratio of 1.72 based on yesterday's closing prices.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 188, putting it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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 follow all of these stock-moving metrics, and many more, on Zacks.com.