Cleveland-Cliffs (CLF) to Release Quarterly Earnings on Monday

Cleveland-Cliffs (NYSE:CLF - Get Free Report) is projected to announce its earnings results after the market closes on Monday, February 3rd. Analysts expect the company to announce earnings of ($0.25) per share and revenue of $4.75 billion for the quarter. Investors interested in registering for the company's conference call can do so using this link.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.02). The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.72 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The business's quarterly revenue was down 18.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 earnings per share. On average, analysts expect Cleveland-Cliffs to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Cleveland-Cliffs Price Performance

CLF traded up $0.78 during midday trading on Tuesday, hitting $10.52. The company had a trading volume of 15,318,707 shares, compared to its average volume of 13,275,752. Cleveland-Cliffs has a twelve month low of $8.99 and a twelve month high of $22.97. The firm's 50-day simple moving average is $10.41 and its 200-day simple moving average is $12.02. The company has a market capitalization of $5.19 billion, a PE ratio of -10.84 and a beta of 1.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CLF shares. StockNews.com cut shares of Cleveland-Cliffs from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. Glj Research raised Cleveland-Cliffs from a "sell" rating to a "buy" rating and set a $14.27 price target on the stock in a research note on Tuesday, January 7th. Citigroup dropped their price objective on Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating for the company in a report on Thursday, December 19th. Morgan Stanley reduced their target price on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Monday. Finally, The Goldman Sachs Group started coverage on shares of Cleveland-Cliffs in a research note on Monday, December 2nd. They set a "buy" rating and a $16.00 price target for the company. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $16.68.

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.