Cleveland-Cliffs (CLF) ended the recent trading session at $11.52, demonstrating a +1.95% change from the preceding day’s closing price. The stock outpaced the S&P 500’s daily gain of 0.32%. On the other hand, the Dow registered a gain of 0.3%, and the technology-centric Nasdaq increased by 0.66%.
The mining company’s stock has dropped by 7.76% in the past month, falling short of the Basic Materials sector’s gain of 15.1% and the S&P 500’s gain of 3.34%.
The upcoming earnings release of Cleveland-Cliffs will be of great interest to investors. The company is predicted to post an EPS of $0.25, indicating a 155.56% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $5.6 billion, up 18.28% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.12 per share and a revenue of $21.09 billion, signifying shifts of +95.16% and +13.34%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Cleveland-Cliffs. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 28.13% higher. Cleveland-Cliffs is holding a Zacks Rank of #3 (Hold) right now.
The Steel – Producers industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 157, finds itself in the bottom 37% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow CLF in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Cleveland-Cliffs Inc. (CLF) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
