Cleveland-Cliffs (CLF) Outpaces Stock Market Gains: What You Should Know
Cleveland-Cliffs (CLF) closed the most recent trading day at $14.39, moving +0.49% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.1%. Elsewhere, the Dow gained 0.28%, while the tech-heavy Nasdaq lost 0.09%.
Heading into today, shares of the mining company had lost 4.98% over the past month, lagging the Basic Materials sector's loss of 0.73% and the S&P 500's loss of 3.6% in that time.
Investors will be hoping for strength from Cleveland-Cliffs as it approaches its next earnings release. In that report, analysts expect Cleveland-Cliffs to post earnings of -$0.27 per share. This would mark a year-over-year decline of 115.17%. Our most recent consensus estimate is calling for quarterly revenue of $5.4 billion, up 0.95% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.66 per share and revenue of $23.34 billion. These totals would mark changes of -54.68% and +14.17%, respectively, from last 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, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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 past month, the Zacks Consensus EPS estimate has moved 0.41% lower. Cleveland-Cliffs currently has a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Cleveland-Cliffs is holding a Forward P/E ratio of 5.38. This represents a discount compared to its industry's average Forward P/E of 10.7.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 136, which puts it in the bottom 47% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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ClevelandCliffs Inc. (CLF) : Free Stock Analysis Report
