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Cleveland-Cliffs (CLF) Stock Sinks As Market Gains: What You Should Know
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In the latest close session, Cleveland-Cliffs (CLF - Free Report) was down 5.73% at $9.38. The stock trailed the S&P 500, which registered a daily gain of 1.18%. At the same time, the Dow added 0.59%, and the tech-heavy Nasdaq gained 2.07%.
Shares of the mining company witnessed a loss of 26.84% over the previous month, trailing the performance of the Basic Materials sector with its loss of 5.12%, and the S&P 500's loss of 2.9%.
Analysts and investors alike will be keeping a close eye on the performance of Cleveland-Cliffs in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.18, indicating a 64% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $5.17 billion, up 4.83% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.27 per share and a revenue of $20.59 billion, representing changes of +89.11% and +10.67%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Cleveland-Cliffs. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 47.83% higher within the past month. As of now, Cleveland-Cliffs holds a Zacks Rank of #3 (Hold).
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 27, which puts it in the top 12% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Cleveland-Cliffs (CLF) Stock Sinks As Market Gains: What You Should Know
In the latest close session, Cleveland-Cliffs (CLF - Free Report) was down 5.73% at $9.38. The stock trailed the S&P 500, which registered a daily gain of 1.18%. At the same time, the Dow added 0.59%, and the tech-heavy Nasdaq gained 2.07%.
Shares of the mining company witnessed a loss of 26.84% over the previous month, trailing the performance of the Basic Materials sector with its loss of 5.12%, and the S&P 500's loss of 2.9%.
Analysts and investors alike will be keeping a close eye on the performance of Cleveland-Cliffs in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.18, indicating a 64% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $5.17 billion, up 4.83% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.27 per share and a revenue of $20.59 billion, representing changes of +89.11% and +10.67%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Cleveland-Cliffs. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 47.83% higher within the past month. As of now, Cleveland-Cliffs holds a Zacks Rank of #3 (Hold).
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 27, which puts it in the top 12% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.