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Cleveland-Cliffs (CLF) Dips More Than Broader Markets: What You Should Know
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Cleveland-Cliffs (CLF - Free Report) closed at $14.95 in the latest trading session, marking a -1.39% move from the prior day. This change lagged the S&P 500's 0.7% loss on the day. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, lost 1.06%.
Coming into today, shares of the mining company had lost 4.77% in the past month. In that same time, the Basic Materials sector lost 1.13%, while the S&P 500 gained 0.58%.
Cleveland-Cliffs will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.51, up 75.86% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.52 billion, down 2.43% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.42 per share and revenue of $22.04 billion. These totals would mark changes of -53.44% and -4.14%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. The Zacks Consensus EPS estimate has moved 3.62% lower within the past month. Cleveland-Cliffs is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Cleveland-Cliffs is currently trading at a Forward P/E ratio of 10.68. For comparison, its industry has an average Forward P/E of 10.63, which means Cleveland-Cliffs is trading at a premium to the group.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 38% 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) Dips More Than Broader Markets: What You Should Know
Cleveland-Cliffs (CLF - Free Report) closed at $14.95 in the latest trading session, marking a -1.39% move from the prior day. This change lagged the S&P 500's 0.7% loss on the day. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, lost 1.06%.
Coming into today, shares of the mining company had lost 4.77% in the past month. In that same time, the Basic Materials sector lost 1.13%, while the S&P 500 gained 0.58%.
Cleveland-Cliffs will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.51, up 75.86% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.52 billion, down 2.43% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.42 per share and revenue of $22.04 billion. These totals would mark changes of -53.44% and -4.14%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. The Zacks Consensus EPS estimate has moved 3.62% lower within the past month. Cleveland-Cliffs is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Cleveland-Cliffs is currently trading at a Forward P/E ratio of 10.68. For comparison, its industry has an average Forward P/E of 10.63, which means Cleveland-Cliffs is trading at a premium to the group.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 38% 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.