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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 at $17.09 in the latest trading session, marking a +1.06% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.22%. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq added 0.2%.
Prior to today's trading, shares of the mining company had lost 21.68% over the past month. This has lagged the Basic Materials sector's loss of 6.58% and the S&P 500's loss of 8.32% in that time.
Cleveland-Cliffs will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.40, down 4.11% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.08 billion, up 20.6% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.95 per share and revenue of $23.94 billion. These totals would mark changes of -32.71% and +17.12%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Cleveland-Cliffs. These revisions help to show the ever-changing nature of near-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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 28.65% lower. Cleveland-Cliffs is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Cleveland-Cliffs has a Forward P/E ratio of 4.28 right now. This represents a discount compared to its industry's average Forward P/E of 7.89.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 41% 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.
To follow CLF in the coming trading sessions, be sure to utilize Zacks.com.
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Cleveland-Cliffs (CLF) Outpaces Stock Market Gains: What You Should Know
Cleveland-Cliffs (CLF - Free Report) closed at $17.09 in the latest trading session, marking a +1.06% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.22%. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq added 0.2%.
Prior to today's trading, shares of the mining company had lost 21.68% over the past month. This has lagged the Basic Materials sector's loss of 6.58% and the S&P 500's loss of 8.32% in that time.
Cleveland-Cliffs will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.40, down 4.11% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.08 billion, up 20.6% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.95 per share and revenue of $23.94 billion. These totals would mark changes of -32.71% and +17.12%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Cleveland-Cliffs. These revisions help to show the ever-changing nature of near-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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 28.65% lower. Cleveland-Cliffs is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Cleveland-Cliffs has a Forward P/E ratio of 4.28 right now. This represents a discount compared to its industry's average Forward P/E of 7.89.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 41% 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.
To follow CLF in the coming trading sessions, be sure to utilize Zacks.com.