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.
Here's Why Cleveland-Cliffs (CLF) Fell More Than Broader Market
Read MoreHide Full Article
Cleveland-Cliffs (CLF - Free Report) ended the recent trading session at $21.24, demonstrating a -1.85% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 1.2%. At the same time, the Dow lost 0.65%, and the tech-heavy Nasdaq lost 1.79%.
Shares of the mining company have appreciated by 9.51% over the course of the past month, outperforming the Basic Materials sector's gain of 1.63% and the S&P 500's loss of 0.85%.
The investment community will be closely monitoring the performance of Cleveland-Cliffs in its forthcoming earnings report. The company is scheduled to release its earnings on April 22, 2024. It is anticipated that the company will report an EPS of $0.19, marking a 272.73% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $5.31 billion, indicating a 0.22% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.63 per share and a revenue of $21.53 billion, signifying shifts of +52.34% and -2.13%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Cleveland-Cliffs. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, there's been a 13.74% fall in the Zacks Consensus EPS estimate. 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 13.26. This expresses a discount compared to the average Forward P/E of 15.59 of its industry.
It is also worth noting that CLF currently has a PEG ratio of 0.77. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Mining - Miscellaneous was holding an average PEG ratio of 2.29 at yesterday's closing price.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 157, finds itself in the bottom 38% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Here's Why Cleveland-Cliffs (CLF) Fell More Than Broader Market
Cleveland-Cliffs (CLF - Free Report) ended the recent trading session at $21.24, demonstrating a -1.85% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 1.2%. At the same time, the Dow lost 0.65%, and the tech-heavy Nasdaq lost 1.79%.
Shares of the mining company have appreciated by 9.51% over the course of the past month, outperforming the Basic Materials sector's gain of 1.63% and the S&P 500's loss of 0.85%.
The investment community will be closely monitoring the performance of Cleveland-Cliffs in its forthcoming earnings report. The company is scheduled to release its earnings on April 22, 2024. It is anticipated that the company will report an EPS of $0.19, marking a 272.73% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $5.31 billion, indicating a 0.22% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.63 per share and a revenue of $21.53 billion, signifying shifts of +52.34% and -2.13%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Cleveland-Cliffs. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, there's been a 13.74% fall in the Zacks Consensus EPS estimate. 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 13.26. This expresses a discount compared to the average Forward P/E of 15.59 of its industry.
It is also worth noting that CLF currently has a PEG ratio of 0.77. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Mining - Miscellaneous was holding an average PEG ratio of 2.29 at yesterday's closing price.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 157, finds itself in the bottom 38% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.