I enjoy the dialogue on this board. Although there are some knuckleheads, there are so many great observations and many smart people so want to document in writing with a friendly bet on earnings per share so we can look back tomorrow and see who is right and respect that person even more... I will start the process and say $0.68 per share....
Sentiment: Strong Buy
I expect the guidance to be good and the share price not to tumble no matter how much they miss. With present IO price over $130, steel price up, Bloom Lake cost coming down, short interest exceedingly high, I will not sell a single share at this price level and may consider buying even more after their conference call tomorrow. Clf is approaching the end of the tunnel and I see the light already.
Miss, even or beat, up or down SP, this is the time to buy.
Sure it might not be a exact bottom but for the longer haul investor, these are great entry level entry or add on positions.
The shorts might win a battle but they will lose the war eventually.
Sentiment: Strong Buy
A number of these companes including TCK, BTU and other have been cutting costs in Q2 to offset revenue decline so I will say CLF will deliver $0.84 and that should transalte to intra day high of 21 tomorrow.But who knows it may go either way. I am on a buy side using call options.GLTY
Earnings .53/shr and revenue whiff. But..., and it's a big but...forward earnings guidance starting in the 4th quarter will be increased. Have fun with the volatility tonight. if you don't mind a 10% swing today it might be a good time to hold your nose and play this name.
I already own 500 shares and I am not selling today. The macro picture is just starting to improve.
Might take another 6 months maybe even a year....but this name can easily triple-quadruple or more when it is done. Game on! JMHO
I am going with 65 cents, just because most of these companies are limiting their beats to 4 cents and have a tendency to pick a target and get the accountants to match it. If the number comes out over 75 cents, that tells me they have a buyer for the company. But I like your pick.
I find it interesting that the estimates are 61 cents when last quarter the estimate was around 50 cents. You would think with all the analyst projecting $80 iron ore, the estimates would have been less. That should tell you that these analyst really don't believe we will see $80 iron ore and they are just throwing that number out for the benefit of the shorts to get them a low cover price.
I think the higher EPS for 2q vs 1q is typically due to volume increases no? The 1q typically has the greatlakes freeze reducing sales/shipments. Or at least that was part of the picture I always thought was in place.
Honestly just throwing a dart for a number, but I think we see .79c for adjusted EPS.
You may be in the range. I suspect a miss against the .62 concensus. CEO retirement and Laurie's abrupt leaving occured for a reason (may be a good scapegoat for earnings miss) Ore prices in Q2 were much lower than in Q1 ($128 vs $149) on a percentage basis that's pretty big and they only reported earnings of .60 a share in Q1. Not sure how you beat that by .02 when ore was 14% lower.