Cleveland-Cliffs (CLF) to Release Earnings on Monday

Cleveland-Cliffs (NYSE:CLF) is scheduled to be releasing its earnings data after the market closes on Monday, April 22nd. Analysts expect Cleveland-Cliffs to post earnings of $0.24 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings results on Tuesday, January 30th. The mining company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). Cleveland-Cliffs had a return on equity of 6.79% and a net margin of 1.81%. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.16 billion. During the same quarter in the previous year, the business earned ($0.30) earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, analysts expect Cleveland-Cliffs to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Cleveland-Cliffs Price Performance

CLF stock opened at $20.79 on Friday. The stock has a 50-day moving average price of $20.95 and a two-hundred day moving average price of $18.88. Cleveland-Cliffs has a 12-month low of $13.61 and a 12-month high of $22.97. The company has a current ratio of 1.89, a quick ratio of 0.62 and a debt-to-equity ratio of 0.39. The company has a market cap of $9.88 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 0.75 and a beta of 2.03.

Insiders Place Their Bets

In related news, CEO Lourenco Goncalves sold 187,136 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $20.19, for a total value of $3,778,275.84. Following the transaction, the chief executive officer now owns 2,699,089 shares in the company, valued at $54,494,606.91. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Lourenco Goncalves sold 187,136 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $20.19, for a total value of $3,778,275.84. Following the transaction, the chief executive officer now owns 2,699,089 shares in the company, valued at $54,494,606.91. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Susan Miranda Green sold 6,500 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $20.40, for a total value of $132,600.00. Following the completion of the transaction, the director now owns 90,286 shares in the company, valued at approximately $1,841,834.40. The disclosure for this sale can be found here. Insiders have sold a total of 221,066 shares of company stock worth $4,464,688 over the last quarter. 1.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Coppell Advisory Solutions Corp. acquired a new position in shares of Cleveland-Cliffs in the fourth quarter worth about $165,000. Point72 Hong Kong Ltd acquired a new stake in Cleveland-Cliffs during the fourth quarter valued at approximately $159,000. Providence Capital Advisors LLC raised its stake in Cleveland-Cliffs by 1,733.0% during the first quarter. Providence Capital Advisors LLC now owns 2,108 shares of the mining company’s stock valued at $115,000 after buying an additional 1,993 shares in the last quarter. Altshuler Shaham Ltd raised its stake in Cleveland-Cliffs by 25.6% during the fourth quarter. Altshuler Shaham Ltd now owns 6,915 shares of the mining company’s stock valued at $111,000 after buying an additional 1,408 shares in the last quarter. Finally, Coppell Advisory Solutions LLC acquired a new stake in Cleveland-Cliffs during the second quarter valued at approximately $87,000. Institutional investors and hedge funds own 67.68% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CLF. Morgan Stanley reissued an “equal weight” rating and set a $20.00 price target on shares of Cleveland-Cliffs in a research report on Tuesday, March 26th. StockNews.com raised Cleveland-Cliffs from a “hold” rating to a “buy” rating in a research report on Thursday. Wolfe Research reissued an “underperform” rating and set a $18.00 price target on shares of Cleveland-Cliffs in a research report on Tuesday, April 9th. Citigroup downgraded Cleveland-Cliffs from a “buy” rating to a “neutral” rating and set a $22.00 price target for the company. in a research report on Wednesday, March 13th. Finally, Argus downgraded Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.92.

Cleveland-Cliffs Company Profile

Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America. The company is vertically integrated from mining through iron making, steelmaking, rolling, finishing and downstream with hot and cold stamping of steel parts and components. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017.