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Cleveland-Cliffs (CLF) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Cleveland-Cliffs (CLF - Free Report) closed at $17.29, marking a -0.06% move from the previous day. This move lagged the S&P 500's daily gain of 1.83%. Elsewhere, the Dow gained 1.4%, while the tech-heavy Nasdaq added 0.09%.
Heading into today, shares of the mining company had lost 9.09% over the past month, lagging the Basic Materials sector's loss of 3% and the S&P 500's loss of 5.51% in that time.
Investors will be hoping for strength from Cleveland-Cliffs as it approaches its next earnings release. The company is expected to report EPS of $1.02, down 56.22% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.95 billion, down 0.83% from the year-ago period.
CLF's full-year Zacks Consensus Estimates are calling for earnings of $4.67 per share and revenue of $23.93 billion. These results would represent year-over-year changes of -20.44% and +17.04%, respectively.
Investors might also notice recent changes to analyst estimates for Cleveland-Cliffs. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. Cleveland-Cliffs currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Cleveland-Cliffs has a Forward P/E ratio of 3.7 right now. This represents a discount compared to its industry's average Forward P/E of 7.9.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 39% 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
In the latest trading session, Cleveland-Cliffs (CLF - Free Report) closed at $17.29, marking a -0.06% move from the previous day. This move lagged the S&P 500's daily gain of 1.83%. Elsewhere, the Dow gained 1.4%, while the tech-heavy Nasdaq added 0.09%.
Heading into today, shares of the mining company had lost 9.09% over the past month, lagging the Basic Materials sector's loss of 3% and the S&P 500's loss of 5.51% in that time.
Investors will be hoping for strength from Cleveland-Cliffs as it approaches its next earnings release. The company is expected to report EPS of $1.02, down 56.22% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.95 billion, down 0.83% from the year-ago period.
CLF's full-year Zacks Consensus Estimates are calling for earnings of $4.67 per share and revenue of $23.93 billion. These results would represent year-over-year changes of -20.44% and +17.04%, respectively.
Investors might also notice recent changes to analyst estimates for Cleveland-Cliffs. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. Cleveland-Cliffs currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Cleveland-Cliffs has a Forward P/E ratio of 3.7 right now. This represents a discount compared to its industry's average Forward P/E of 7.9.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 39% 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.