Cleveland-Cliffs (CLF) closed the most recent trading day at $7.30, moving +1.67% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.13%. Meanwhile, the Dow lost 1.33%, and the Nasdaq, a tech-heavy index, lost 0.13%.
Shares of the mining company witnessed a loss of 24.9% over the previous month, trailing the performance of the Basic Materials sector with its loss of 4.72% and the S&P 500's loss of 6.3%.
Analysts and investors alike will be keeping a close eye on the performance of Cleveland-Cliffs in its upcoming earnings disclosure. The company's earnings report is set to go public on May 7, 2025. The company is predicted to post an EPS of -$0.62, indicating a 444.44% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.6 billion, down 11.5% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.72 per share and revenue of $20.16 billion, which would represent changes of +1.37% and +5.08%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Cleveland-Cliffs. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 30.77% downward. At present, Cleveland-Cliffs boasts a Zacks Rank of #3 (Hold).
The Steel - Producers industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 66, finds itself in the top 27% echelons 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Cleveland-Cliffs Inc. (CLF): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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