We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cleveland-Cliffs (CLF) Stock Moves -1.14%: What You Should Know
Read MoreHide Full Article
Cleveland-Cliffs (CLF - Free Report) closed the most recent trading day at $14.70, moving -1.14% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.47%. Meanwhile, the Dow lost 1.14%, and the Nasdaq, a tech-heavy index, lost 1.57%.
Heading into today, shares of the mining company had gained 1.23% over the past month, lagging the Basic Materials sector's gain of 2.62% and outpacing the S&P 500's loss of 1.43% 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 $0.50, up 72.41% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.52 billion, down 2.41% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.40 per share and revenue of $22.04 billion, which would represent changes of -54.1% and -4.13%, respectively, from the prior year.
Investors should also note any 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.27% lower. Cleveland-Cliffs is currently a Zacks Rank #3 (Hold).
In terms of valuation, Cleveland-Cliffs is currently trading at a Forward P/E ratio of 10.61. This represents a premium compared to its industry's average Forward P/E of 10.51.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 26% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Cleveland-Cliffs (CLF) Stock Moves -1.14%: What You Should Know
Cleveland-Cliffs (CLF - Free Report) closed the most recent trading day at $14.70, moving -1.14% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.47%. Meanwhile, the Dow lost 1.14%, and the Nasdaq, a tech-heavy index, lost 1.57%.
Heading into today, shares of the mining company had gained 1.23% over the past month, lagging the Basic Materials sector's gain of 2.62% and outpacing the S&P 500's loss of 1.43% 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 $0.50, up 72.41% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.52 billion, down 2.41% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.40 per share and revenue of $22.04 billion, which would represent changes of -54.1% and -4.13%, respectively, from the prior year.
Investors should also note any 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.27% lower. Cleveland-Cliffs is currently a Zacks Rank #3 (Hold).
In terms of valuation, Cleveland-Cliffs is currently trading at a Forward P/E ratio of 10.61. This represents a premium compared to its industry's average Forward P/E of 10.51.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 26% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.