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Cleveland-Cliffs (CLF) Gains But Lags Market: What You Should Know
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Cleveland-Cliffs (CLF - Free Report) closed at $16.05 in the latest trading session, marking a +0.31% move from the prior day. This move lagged the S&P 500's daily gain of 0.93%. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 1.71%.
Prior to today's trading, shares of the mining company had gained 8.92% over the past month. This has outpaced the Basic Materials sector's loss of 1.54% and the S&P 500's gain of 4.61% 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 $0.75, down 42.75% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.57 billion, down 12.13% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.15 per share and revenue of $21.38 billion. These totals would mark changes of -29.51% and -6.98%, respectively, from last year.
Investors might also notice 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 3.86% higher within the past month. Cleveland-Cliffs is currently a Zacks Rank #3 (Hold).
Investors should also note Cleveland-Cliffs's current valuation metrics, including its Forward P/E ratio of 7.44. This valuation marks a discount compared to its industry's average Forward P/E of 9.14.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 31% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Cleveland-Cliffs (CLF) Gains But Lags Market: What You Should Know
Cleveland-Cliffs (CLF - Free Report) closed at $16.05 in the latest trading session, marking a +0.31% move from the prior day. This move lagged the S&P 500's daily gain of 0.93%. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 1.71%.
Prior to today's trading, shares of the mining company had gained 8.92% over the past month. This has outpaced the Basic Materials sector's loss of 1.54% and the S&P 500's gain of 4.61% 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 $0.75, down 42.75% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.57 billion, down 12.13% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.15 per share and revenue of $21.38 billion. These totals would mark changes of -29.51% and -6.98%, respectively, from last year.
Investors might also notice 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 3.86% higher within the past month. Cleveland-Cliffs is currently a Zacks Rank #3 (Hold).
Investors should also note Cleveland-Cliffs's current valuation metrics, including its Forward P/E ratio of 7.44. This valuation marks a discount compared to its industry's average Forward P/E of 9.14.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 31% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.