Analysts Anticipate Cleveland-Cliffs Inc (NYSE:CLF) Will Post Earnings of $0.25 Per Share

Equities analysts expect that Cleveland-Cliffs Inc (NYSE:CLF) will report earnings of $0.25 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Cleveland-Cliffs’ earnings, with estimates ranging from $0.18 to $0.32. Cleveland-Cliffs reported earnings per share of $0.55 during the same quarter last year, which indicates a negative year-over-year growth rate of 54.5%. The business is scheduled to announce its next earnings results on Friday, February 14th.

According to Zacks, analysts expect that Cleveland-Cliffs will report full year earnings of $1.12 per share for the current year, with EPS estimates ranging from $1.06 to $1.20. For the next fiscal year, analysts forecast that the company will report earnings of $0.84 per share, with EPS estimates ranging from $0.50 to $1.14. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Cleveland-Cliffs.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings results on Wednesday, October 23rd. The mining company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.09. Cleveland-Cliffs had a return on equity of 125.91% and a net margin of 38.99%. The business had revenue of $555.60 million during the quarter, compared to analyst estimates of $544.88 million. During the same quarter last year, the company posted $1.41 EPS. Cleveland-Cliffs’s revenue for the quarter was down 25.1% on a year-over-year basis.

A number of equities research analysts have commented on CLF shares. ValuEngine upgraded Cleveland-Cliffs from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. B. Riley decreased their price objective on Cleveland-Cliffs from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Jefferies Financial Group decreased their price objective on Cleveland-Cliffs from $15.00 to $12.00 in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lowered Cleveland-Cliffs from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $14.00 to $8.00 in a research report on Monday, September 23rd. Finally, Cowen set a $10.00 price objective on Cleveland-Cliffs and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Cleveland-Cliffs currently has a consensus rating of “Buy” and a consensus price target of $10.67.

In other news, Director John T. Baldwin purchased 9,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was bought at an average cost of $7.27 per share, with a total value of $65,430.00. Following the purchase, the director now directly owns 123,727 shares of the company’s stock, valued at $899,495.29. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Keith Koci purchased 12,500 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were purchased at an average cost of $8.08 per share, with a total value of $101,000.00. Following the completion of the purchase, the chief financial officer now directly owns 86,849 shares in the company, valued at $701,739.92. The disclosure for this purchase can be found here. Insiders have bought a total of 31,500 shares of company stock valued at $247,420 over the last ninety days. Company insiders own 1.32% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. WINTON GROUP Ltd raised its stake in shares of Cleveland-Cliffs by 15.2% in the 2nd quarter. WINTON GROUP Ltd now owns 97,327 shares of the mining company’s stock valued at $1,038,000 after acquiring an additional 12,854 shares in the last quarter. Corrado Advisors LLC bought a new position in shares of Cleveland-Cliffs in the 2nd quarter valued at approximately $97,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Cleveland-Cliffs in the 2nd quarter valued at approximately $171,000. First Hawaiian Bank bought a new position in shares of Cleveland-Cliffs in the 2nd quarter valued at approximately $294,000. Finally, NEXT Financial Group Inc raised its stake in shares of Cleveland-Cliffs by 16.9% in the 2nd quarter. NEXT Financial Group Inc now owns 10,261 shares of the mining company’s stock valued at $109,000 after acquiring an additional 1,486 shares in the last quarter. 82.32% of the stock is owned by institutional investors.

Shares of NYSE CLF opened at $7.57 on Wednesday. Cleveland-Cliffs has a one year low of $6.59 and a one year high of $12.26. The firm has a market capitalization of $1.96 billion, a PE ratio of 3.55 and a beta of 2.03. The company has a current ratio of 2.32, a quick ratio of 1.61 and a debt-to-equity ratio of 5.86. The business has a 50-day moving average price of $7.32 and a two-hundred day moving average price of $8.93.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, October 4th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Thursday, October 3rd. Cleveland-Cliffs’s dividend payout ratio (DPR) is presently 11.27%.

About Cleveland-Cliffs

Cleveland-Cliffs Inc operates as an iron ore mining company in the United States. The company operates four iron ore mines in Michigan and Minnesota. It sells its products to integrated steel companies and steel producers in the United States and the Asia Pacific. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017.

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Earnings History and Estimates for Cleveland-Cliffs (NYSE:CLF)

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