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Cleveland-Cliffs (CLF) Declines More Than Market: Some Information for Investors
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The most recent trading session ended with Cleveland-Cliffs (CLF - Free Report) standing at $13.46, reflecting a -1.32% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.05% loss on the day. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq added 0.18%.
The the stock of mining company has risen by 14.91% in the past month, leading the Basic Materials sector's gain of 1.21% and the S&P 500's gain of 2.76%.
Market participants will be closely following the financial results of Cleveland-Cliffs in its upcoming release. The company plans to announce its earnings on November 4, 2024. The company's earnings per share (EPS) are projected to be -$0.30, reflecting a 155.56% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $4.76 billion, down 15.02% from the year-ago period.
CLF's full-year Zacks Consensus Estimates are calling for earnings of -$0.28 per share and revenue of $19.99 billion. These results would represent year-over-year changes of -126.17% and -9.14%, respectively.
It is also important to note the recent changes to analyst estimates for Cleveland-Cliffs. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 943.75% lower within the past month. Cleveland-Cliffs presently features a Zacks Rank of #3 (Hold).
The Mining - Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 188, placing it within the bottom 26% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Cleveland-Cliffs (CLF) Declines More Than Market: Some Information for Investors
The most recent trading session ended with Cleveland-Cliffs (CLF - Free Report) standing at $13.46, reflecting a -1.32% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.05% loss on the day. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq added 0.18%.
The the stock of mining company has risen by 14.91% in the past month, leading the Basic Materials sector's gain of 1.21% and the S&P 500's gain of 2.76%.
Market participants will be closely following the financial results of Cleveland-Cliffs in its upcoming release. The company plans to announce its earnings on November 4, 2024. The company's earnings per share (EPS) are projected to be -$0.30, reflecting a 155.56% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $4.76 billion, down 15.02% from the year-ago period.
CLF's full-year Zacks Consensus Estimates are calling for earnings of -$0.28 per share and revenue of $19.99 billion. These results would represent year-over-year changes of -126.17% and -9.14%, respectively.
It is also important to note the recent changes to analyst estimates for Cleveland-Cliffs. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 943.75% lower within the past month. Cleveland-Cliffs presently features a Zacks Rank of #3 (Hold).
The Mining - Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 188, placing it within the bottom 26% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.