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.
Seeking Clues to Cleveland-Cliffs (CLF) Q1 Earnings? A Peek Into Wall Street Projections for Key Metrics
Read MoreHide Full Article
In its upcoming report, Cleveland-Cliffs (CLF - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $0.24 per share, reflecting an increase of 318.2% compared to the same period last year. Revenues are forecasted to be $5.31 billion, representing a year-over-year increase of 0.2%.
The consensus EPS estimate for the quarter has been revised 10.8% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Cleveland-Cliffs metrics that are routinely monitored and predicted by Wall Street analysts.
It is projected by analysts that the 'Revenues- Other Businesses' will reach $141.41 million. The estimate indicates a change of -16.3% from the prior-year quarter.
The average prediction of analysts places 'Revenues- Steelmaking- Hot-rolled steel' at $1.24 billion. The estimate indicates a year-over-year change of +11%.
The consensus estimate for 'Revenues- Steelmaking- Cold-rolled steel' stands at $660.79 million. The estimate indicates a change of +3.4% from the prior-year quarter.
The consensus among analysts is that 'Revenues- Steelmaking- Coated steel' will reach $1.52 billion. The estimate suggests a change of -6.2% year over year.
Analysts' assessment points toward 'Volumes - Steelmaking - Hot-rolled steel' reaching 1,481.31 Ton. Compared to the current estimate, the company reported 1,490 Ton in the same quarter of the previous year.
Analysts predict that the 'Volumes - Steelmaking - Cold-rolled steel' will reach 599.63 Ton. Compared to the current estimate, the company reported 597 Ton in the same quarter of the previous year.
According to the collective judgment of analysts, 'Volumes - Steelmaking - Coated steel' should come in at 1,159.00 Ton. The estimate compares to the year-ago value of 1,168 Ton.
The combined assessment of analysts suggests that 'Average net selling price per net ton of steel products' will likely reach $1,165.04. The estimate is in contrast to the year-ago figure of $1,128.
Analysts expect 'Volumes - Steelmaking - Slab and other steel products' to come in at 458.28 Ton. The estimate compares to the year-ago value of 458 Ton.
Analysts forecast 'Volumes - Steelmaking - Plate' to reach 213.11 Ton. The estimate compares to the year-ago value of 198 Ton.
Based on the collective assessment of analysts, 'External Sales Volumes- Steel Products' should arrive at 4,089.04 Ton. Compared to the current estimate, the company reported 4,085 Ton in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Volumes - Steelmaking - Stainless and electrical steel' of 199.14 Ton. Compared to the current estimate, the company reported 174 Ton in the same quarter of the previous year.
Over the past month, Cleveland-Cliffs shares have recorded returns of +0.4% versus the Zacks S&P 500 composite's -1.1% change. Based on its Zacks Rank #3 (Hold), CLF will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Seeking Clues to Cleveland-Cliffs (CLF) Q1 Earnings? A Peek Into Wall Street Projections for Key Metrics
In its upcoming report, Cleveland-Cliffs (CLF - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $0.24 per share, reflecting an increase of 318.2% compared to the same period last year. Revenues are forecasted to be $5.31 billion, representing a year-over-year increase of 0.2%.
The consensus EPS estimate for the quarter has been revised 10.8% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Cleveland-Cliffs metrics that are routinely monitored and predicted by Wall Street analysts.
It is projected by analysts that the 'Revenues- Other Businesses' will reach $141.41 million. The estimate indicates a change of -16.3% from the prior-year quarter.
The average prediction of analysts places 'Revenues- Steelmaking- Hot-rolled steel' at $1.24 billion. The estimate indicates a year-over-year change of +11%.
The consensus estimate for 'Revenues- Steelmaking- Cold-rolled steel' stands at $660.79 million. The estimate indicates a change of +3.4% from the prior-year quarter.
The consensus among analysts is that 'Revenues- Steelmaking- Coated steel' will reach $1.52 billion. The estimate suggests a change of -6.2% year over year.
Analysts' assessment points toward 'Volumes - Steelmaking - Hot-rolled steel' reaching 1,481.31 Ton. Compared to the current estimate, the company reported 1,490 Ton in the same quarter of the previous year.
Analysts predict that the 'Volumes - Steelmaking - Cold-rolled steel' will reach 599.63 Ton. Compared to the current estimate, the company reported 597 Ton in the same quarter of the previous year.
According to the collective judgment of analysts, 'Volumes - Steelmaking - Coated steel' should come in at 1,159.00 Ton. The estimate compares to the year-ago value of 1,168 Ton.
The combined assessment of analysts suggests that 'Average net selling price per net ton of steel products' will likely reach $1,165.04. The estimate is in contrast to the year-ago figure of $1,128.
Analysts expect 'Volumes - Steelmaking - Slab and other steel products' to come in at 458.28 Ton. The estimate compares to the year-ago value of 458 Ton.
Analysts forecast 'Volumes - Steelmaking - Plate' to reach 213.11 Ton. The estimate compares to the year-ago value of 198 Ton.
Based on the collective assessment of analysts, 'External Sales Volumes- Steel Products' should arrive at 4,089.04 Ton. Compared to the current estimate, the company reported 4,085 Ton in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Volumes - Steelmaking - Stainless and electrical steel' of 199.14 Ton. Compared to the current estimate, the company reported 174 Ton in the same quarter of the previous year.
View all Key Company Metrics for Cleveland-Cliffs here>>>
Over the past month, Cleveland-Cliffs shares have recorded returns of +0.4% versus the Zacks S&P 500 composite's -1.1% change. Based on its Zacks Rank #3 (Hold), CLF will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>