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Cleveland-Cliffs (CLF) Gains But Lags Market: What You Should Know

Zacks Equity Research
·2 min read

In the latest trading session, Cleveland-Cliffs (CLF) closed at $19.98, marking a +0.81% move from the previous day. The stock lagged the S&P 500's daily gain of 0.95%.

Coming into today, shares of the mining company had lost 19.98% in the past month. In that same time, the Basic Materials sector lost 4.11%, while the S&P 500 lost 1.87%.

CLF will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.21, up 5425% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.73 billion, up 247.9% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.81 per share and revenue of $20.57 billion. These totals would mark changes of +3317.65% and +284.2%, respectively, from last year.

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Investors should also note any recent changes to analyst estimates for CLF. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.

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. Within the past 30 days, our consensus EPS projection remained stagnant. CLF is currently a Zacks Rank #3 (Hold).

Investors should also note CLF's current valuation metrics, including its Forward P/E ratio of 3.41. This represents a discount compared to its industry's average Forward P/E of 9.14.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 230, which puts it in the bottom 10% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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