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Cleveland-Cliffs (CLF) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest trading session, Cleveland-Cliffs (CLF - Free Report) closed at $12.41, marking a -2.44% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 1.62% for the day. Meanwhile, the Dow lost 1.87%, and the Nasdaq, a tech-heavy index, lost 1.98%.
Shares of the mining company have appreciated by 17.89% over the course of the past month, outperforming the Basic Materials sector's loss of 5.57%, and the S&P 500's loss of 0.03%.
Analysts and investors alike will be keeping a close eye on the performance of Cleveland-Cliffs in its upcoming earnings disclosure. The company is expected to report EPS of -$0.14, up 72% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $5.21 billion, indicating a 5.49% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.46 per share and revenue of $20.38 billion, which would represent changes of +81.45% and +9.53%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Cleveland-Cliffs. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Cleveland-Cliffs is carrying a Zacks Rank of #4 (Sell).
The Steel - Producers industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 95, finds itself in the top 39% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Cleveland-Cliffs (CLF) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest trading session, Cleveland-Cliffs (CLF - Free Report) closed at $12.41, marking a -2.44% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 1.62% for the day. Meanwhile, the Dow lost 1.87%, and the Nasdaq, a tech-heavy index, lost 1.98%.
Shares of the mining company have appreciated by 17.89% over the course of the past month, outperforming the Basic Materials sector's loss of 5.57%, and the S&P 500's loss of 0.03%.
Analysts and investors alike will be keeping a close eye on the performance of Cleveland-Cliffs in its upcoming earnings disclosure. The company is expected to report EPS of -$0.14, up 72% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $5.21 billion, indicating a 5.49% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.46 per share and revenue of $20.38 billion, which would represent changes of +81.45% and +9.53%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Cleveland-Cliffs. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Cleveland-Cliffs is carrying a Zacks Rank of #4 (Sell).
The Steel - Producers industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 95, finds itself in the top 39% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.