We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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 Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
Cleveland-Cliffs (CLF - Free Report) closed at $8.27 in the latest trading session, marking a -2.13% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.72% for the day. Elsewhere, the Dow saw an upswing of 0.48%, while the tech-heavy Nasdaq appreciated by 1.16%.
The stock of mining company has fallen by 23.74% in the past month, lagging the Basic Materials sector's loss of 11.5% and the S&P 500's loss of 4.99%.
The upcoming earnings release of Cleveland-Cliffs will be of great interest to investors. The company's upcoming EPS is projected at -$0.34, signifying a 63.04% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $4.93 billion, showing a 6.42% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.44 per share and revenue of $20.35 billion, indicating changes of +82.26% and +9.36%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Cleveland-Cliffs. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.36% lower. Cleveland-Cliffs is currently a Zacks Rank #4 (Sell).
The Steel - Producers industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 228, this industry ranks in the bottom 7% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
Cleveland-Cliffs (CLF) Stock Sinks As Market Gains: What You Should Know
Cleveland-Cliffs (CLF - Free Report) closed at $8.27 in the latest trading session, marking a -2.13% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.72% for the day. Elsewhere, the Dow saw an upswing of 0.48%, while the tech-heavy Nasdaq appreciated by 1.16%.
The stock of mining company has fallen by 23.74% in the past month, lagging the Basic Materials sector's loss of 11.5% and the S&P 500's loss of 4.99%.
The upcoming earnings release of Cleveland-Cliffs will be of great interest to investors. The company's upcoming EPS is projected at -$0.34, signifying a 63.04% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $4.93 billion, showing a 6.42% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.44 per share and revenue of $20.35 billion, indicating changes of +82.26% and +9.36%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Cleveland-Cliffs. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.36% lower. Cleveland-Cliffs is currently a Zacks Rank #4 (Sell).
The Steel - Producers industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 228, this industry ranks in the bottom 7% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.