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Cleveland-Cliffs (CLF) Dips More Than Broader Markets: What You Should Know

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Cleveland-Cliffs (CLF - Free Report) closed at $22.78 in the latest trading session, marking a -1.3% move from the prior day. This change lagged the S&P 500's 0.35% loss on the day.

Prior to today's trading, shares of the mining company had gained 4.25% over the past month. This has outpaced the Basic Materials sector's loss of 1.2% and the S&P 500's gain of 3.36% in that time.

Investors will be hoping for strength from CLF as it approaches its next earnings release, which is expected to be July 22, 2021. The company is expected to report EPS of $1.53, up 593.55% 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.

CLF's full-year Zacks Consensus Estimates are calling for earnings of $4.44 per share and revenue of $19.22 billion. These results would represent year-over-year changes of +2511.76% and +258.95%, respectively.

Investors might also notice recent changes to analyst estimates for CLF. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 16.46% higher. CLF is holding a Zacks Rank of #1 (Strong Buy) right now.

Looking at its valuation, CLF is holding a Forward P/E ratio of 5.2. This valuation marks a discount compared to its industry's average Forward P/E of 9.79.

Investors should also note that CLF has a PEG ratio of 0.24 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. CLF's industry had an average PEG ratio of 1.45 as of yesterday's close.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% 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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