Cleveland-Cliffs (CLF) closed at $22.66 in the latest trading session, marking a -0.87% move from the prior day. This move lagged the S&P 500's daily loss of 0.54%.
Heading into today, shares of the mining company had gained 12.94% over the past month, outpacing the Basic Materials sector's loss of 2.3% and the S&P 500's gain of 1.91% in that time.
Investors will be hoping for strength from CLF as it approaches its next earnings release. The company is expected to report EPS of $1.38, up 545.16% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.75 billion, up 334.97% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.45 per share and revenue of $18.09 billion. These totals would mark changes of +2517.65% and +237.83%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for CLF. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, the Zacks Consensus EPS estimate has moved 12.66% higher. CLF is currently a Zacks Rank #3 (Hold).
Digging into valuation, CLF currently has a Forward P/E ratio of 5.14. This valuation marks a discount compared to its industry's average Forward P/E of 11.71.
Investors should also note that CLF has a PEG ratio of 0.19 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. CLF's industry had an average PEG ratio of 1.68 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 28% 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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