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Cleveland-Cliffs (CLF) Outperforms Broader Market: What You Need to Know
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Cleveland-Cliffs (CLF - Free Report) ended the recent trading session at $12.06, demonstrating a +1.94% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.86%. Elsewhere, the Dow gained 0.98%, while the tech-heavy Nasdaq added 0.96%.
The mining company's shares have seen a decrease of 2.63% over the last month, not keeping up with the Basic Materials sector's loss of 0.74% and the S&P 500's loss of 1.96%.
Market participants will be closely following the financial results of Cleveland-Cliffs in its upcoming release. In that report, analysts expect Cleveland-Cliffs to post earnings of $0.24 per share. This would mark year-over-year growth of 153.33%. At the same time, our most recent consensus estimate is projecting a revenue of $5.6 billion, reflecting a 18.28% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.12 per share and a revenue of $21.09 billion, representing changes of +95.16% and +13.34%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Cleveland-Cliffs. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.68% downward. Currently, Cleveland-Cliffs is carrying a Zacks Rank of #3 (Hold).
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 103, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.
View the Zacks #1 Rank List
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Cleveland-Cliffs (CLF) Outperforms Broader Market: What You Need to Know
Cleveland-Cliffs (CLF - Free Report) ended the recent trading session at $12.06, demonstrating a +1.94% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.86%. Elsewhere, the Dow gained 0.98%, while the tech-heavy Nasdaq added 0.96%.
The mining company's shares have seen a decrease of 2.63% over the last month, not keeping up with the Basic Materials sector's loss of 0.74% and the S&P 500's loss of 1.96%.
Market participants will be closely following the financial results of Cleveland-Cliffs in its upcoming release. In that report, analysts expect Cleveland-Cliffs to post earnings of $0.24 per share. This would mark year-over-year growth of 153.33%. At the same time, our most recent consensus estimate is projecting a revenue of $5.6 billion, reflecting a 18.28% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.12 per share and a revenue of $21.09 billion, representing changes of +95.16% and +13.34%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Cleveland-Cliffs. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.68% downward. Currently, Cleveland-Cliffs is carrying a Zacks Rank of #3 (Hold).
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 103, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.