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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 2.04% at $12.50. This move lagged the S&P 500's daily gain of 0.17%. Meanwhile, the Dow experienced a drop of 0.18%, and the technology-dominated Nasdaq saw an increase of 0.4%.
The mining company's stock has climbed by 18.81% in the past month, exceeding the Basic Materials sector's loss of 0.24% and the S&P 500's loss of 1.29%.
The investment community will be closely monitoring the performance of Cleveland-Cliffs in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.24, reflecting a 153.33% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $5.6 billion, reflecting a 18.25% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.11 per share and a revenue of $21.1 billion, representing changes of +95.56% and +13.4%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Cleveland-Cliffs. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.17% higher. Cleveland-Cliffs is currently sporting 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 78, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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 2.04% at $12.50. This move lagged the S&P 500's daily gain of 0.17%. Meanwhile, the Dow experienced a drop of 0.18%, and the technology-dominated Nasdaq saw an increase of 0.4%.
The mining company's stock has climbed by 18.81% in the past month, exceeding the Basic Materials sector's loss of 0.24% and the S&P 500's loss of 1.29%.
The investment community will be closely monitoring the performance of Cleveland-Cliffs in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.24, reflecting a 153.33% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $5.6 billion, reflecting a 18.25% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.11 per share and a revenue of $21.1 billion, representing changes of +95.56% and +13.4%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Cleveland-Cliffs. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.17% higher. Cleveland-Cliffs is currently sporting 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 78, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.