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Cleveland-Cliffs (CLF) Stock Sinks As Market Gains: What You Should Know
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Cleveland-Cliffs (CLF - Free Report) closed the most recent trading day at $28.39, moving -1.05% from the previous trading session. This move lagged the S&P 500's daily gain of 1.13%. At the same time, the Dow added 0.74%, and the tech-heavy Nasdaq gained 0.91%.
Prior to today's trading, shares of the mining company had gained 50.29% over the past month. This has outpaced the Basic Materials sector's gain of 10.29% and the S&P 500's gain of 2.65% in that time.
Cleveland-Cliffs will be looking to display strength as it nears its next earnings release. In that report, analysts expect Cleveland-Cliffs to post earnings of $1.78 per share. This would mark year-over-year growth of 408.57%. Our most recent consensus estimate is calling for quarterly revenue of $5.72 billion, up 41.24% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.95 per share and revenue of $21.57 billion. These totals would mark changes of -15.67% and +5.49%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Cleveland-Cliffs. These recent revisions tend to reflect the evolving nature of short-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. 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.
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 1.49% higher. Cleveland-Cliffs is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Cleveland-Cliffs's current valuation metrics, including its Forward P/E ratio of 5.8. This represents a discount compared to its industry's average Forward P/E of 10.25.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 71, putting it in the top 28% 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) Stock Sinks As Market Gains: What You Should Know
Cleveland-Cliffs (CLF - Free Report) closed the most recent trading day at $28.39, moving -1.05% from the previous trading session. This move lagged the S&P 500's daily gain of 1.13%. At the same time, the Dow added 0.74%, and the tech-heavy Nasdaq gained 0.91%.
Prior to today's trading, shares of the mining company had gained 50.29% over the past month. This has outpaced the Basic Materials sector's gain of 10.29% and the S&P 500's gain of 2.65% in that time.
Cleveland-Cliffs will be looking to display strength as it nears its next earnings release. In that report, analysts expect Cleveland-Cliffs to post earnings of $1.78 per share. This would mark year-over-year growth of 408.57%. Our most recent consensus estimate is calling for quarterly revenue of $5.72 billion, up 41.24% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.95 per share and revenue of $21.57 billion. These totals would mark changes of -15.67% and +5.49%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Cleveland-Cliffs. These recent revisions tend to reflect the evolving nature of short-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. 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.
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 1.49% higher. Cleveland-Cliffs is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Cleveland-Cliffs's current valuation metrics, including its Forward P/E ratio of 5.8. This represents a discount compared to its industry's average Forward P/E of 10.25.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 71, putting it in the top 28% 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.