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Cleveland-Cliffs (CLF) Gains As Market Dips: What You Should Know

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Cleveland-Cliffs (CLF - Free Report) closed at $23.07 in the latest trading session, marking a +0.22% move from the prior day. This move outpaced the S&P 500's daily loss of 0.16%.

Heading into today, shares of the mining company had lost 8.07% over the past month, lagging the Basic Materials sector's loss of 4.55% and the S&P 500's gain of 0.46% in that time.

Wall Street will be looking for positivity from CLF as it approaches its next earnings report date. On that day, CLF is projected to report earnings of $2.17 per share, which would represent year-over-year growth of 5325%. Our most recent consensus estimate is calling for quarterly revenue of $5.73 billion, up 247.9% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.88 per share and revenue of $20.57 billion. These totals would mark changes of +3358.82% and +284.2%, respectively, from last 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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 remained stagnant. CLF is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, CLF is holding a Forward P/E ratio of 3.91. This valuation marks a discount compared to its industry's average Forward P/E of 9.44.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 232, putting it in the bottom 9% 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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