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Cleveland-Cliffs (CLF) Stock Moves -1.5%: What You Should Know
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Cleveland-Cliffs (CLF - Free Report) closed the most recent trading day at $13.77, moving -1.5% from the previous trading session. This move was narrower than the S&P 500's daily loss of 2.11%. At the same time, the Dow lost 1.54%, and the tech-heavy Nasdaq lost 0.3%.
Heading into today, shares of the mining company had lost 19.05% over the past month, lagging the Basic Materials sector's loss of 10.54% and the S&P 500's loss of 8.19% in that time.
Wall Street will be looking for positivity from Cleveland-Cliffs as it approaches its next earnings report date. On that day, Cleveland-Cliffs is projected to report earnings of $0.78 per share, which would represent a year-over-year decline of 66.52%. Meanwhile, our latest consensus estimate is calling for revenue of $5.7 billion, down 5.13% from the prior-year quarter.
CLF's full-year Zacks Consensus Estimates are calling for earnings of $4.24 per share and revenue of $23.49 billion. These results would represent year-over-year changes of -27.77% and +14.87%, respectively.
Investors might also notice recent changes to analyst estimates for Cleveland-Cliffs. Recent revisions tend to reflect the latest near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 7.71% lower. Cleveland-Cliffs is currently a Zacks Rank #5 (Strong Sell).
Investors should also note Cleveland-Cliffs's current valuation metrics, including its Forward P/E ratio of 3.3. Its industry sports an average Forward P/E of 7.57, so we one might conclude that Cleveland-Cliffs is trading at a discount comparatively.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 135, which puts it in the bottom 47% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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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Cleveland-Cliffs (CLF) Stock Moves -1.5%: What You Should Know
Cleveland-Cliffs (CLF - Free Report) closed the most recent trading day at $13.77, moving -1.5% from the previous trading session. This move was narrower than the S&P 500's daily loss of 2.11%. At the same time, the Dow lost 1.54%, and the tech-heavy Nasdaq lost 0.3%.
Heading into today, shares of the mining company had lost 19.05% over the past month, lagging the Basic Materials sector's loss of 10.54% and the S&P 500's loss of 8.19% in that time.
Wall Street will be looking for positivity from Cleveland-Cliffs as it approaches its next earnings report date. On that day, Cleveland-Cliffs is projected to report earnings of $0.78 per share, which would represent a year-over-year decline of 66.52%. Meanwhile, our latest consensus estimate is calling for revenue of $5.7 billion, down 5.13% from the prior-year quarter.
CLF's full-year Zacks Consensus Estimates are calling for earnings of $4.24 per share and revenue of $23.49 billion. These results would represent year-over-year changes of -27.77% and +14.87%, respectively.
Investors might also notice recent changes to analyst estimates for Cleveland-Cliffs. Recent revisions tend to reflect the latest near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 7.71% lower. Cleveland-Cliffs is currently a Zacks Rank #5 (Strong Sell).
Investors should also note Cleveland-Cliffs's current valuation metrics, including its Forward P/E ratio of 3.3. Its industry sports an average Forward P/E of 7.57, so we one might conclude that Cleveland-Cliffs is trading at a discount comparatively.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 135, which puts it in the bottom 47% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.