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Cleveland-Cliffs (CLF) Outpaces Stock Market Gains: What You Should Know
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Cleveland-Cliffs (CLF - Free Report) closed the most recent trading day at $20.93, moving +1.5% from the previous trading session. This change outpaced the S&P 500's 0.03% gain on the day.
Prior to today's trading, shares of the mining company had gained 2.49% over the past month. This has outpaced the Basic Materials sector's loss of 5.22% and the S&P 500's gain of 2.12% in that time.
CLF will be looking to display strength as it nears its next earnings release, which 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. Meanwhile, our latest consensus estimate is calling for revenue of $4.98 billion, up 355.65% from the prior-year quarter.
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.
Investors might also notice recent changes to analyst estimates for CLF. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 16.46% higher. CLF currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, CLF currently has a Forward P/E ratio of 4.64. Its industry sports an average Forward P/E of 10.7, so we one might conclude that CLF is trading at a discount comparatively.
Investors should also note that CLF has a PEG ratio of 0.21 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Mining - Miscellaneous stocks are, on average, holding a PEG ratio of 1.96 based on yesterday's closing prices.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 127, which puts it in the top 50% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Cleveland-Cliffs (CLF) Outpaces Stock Market Gains: What You Should Know
Cleveland-Cliffs (CLF - Free Report) closed the most recent trading day at $20.93, moving +1.5% from the previous trading session. This change outpaced the S&P 500's 0.03% gain on the day.
Prior to today's trading, shares of the mining company had gained 2.49% over the past month. This has outpaced the Basic Materials sector's loss of 5.22% and the S&P 500's gain of 2.12% in that time.
CLF will be looking to display strength as it nears its next earnings release, which 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. Meanwhile, our latest consensus estimate is calling for revenue of $4.98 billion, up 355.65% from the prior-year quarter.
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.
Investors might also notice recent changes to analyst estimates for CLF. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 16.46% higher. CLF currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, CLF currently has a Forward P/E ratio of 4.64. Its industry sports an average Forward P/E of 10.7, so we one might conclude that CLF is trading at a discount comparatively.
Investors should also note that CLF has a PEG ratio of 0.21 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Mining - Miscellaneous stocks are, on average, holding a PEG ratio of 1.96 based on yesterday's closing prices.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 127, which puts it in the top 50% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.