Zacks Research Issues Negative Estimate for CLF Earnings

Key Points

• Analysts at Zacks Research have decreased their Q2 2027 EPS estimate for Cleveland-Cliffs from $0.15 to $0.11, while the consensus estimate for the full year is projected at ($0.79) per share.
• Cleveland-Cliffs' stock has seen varied investment ratings, with two analysts ranking it as a sell, three issuing hold ratings, three giving buy ratings, and one assigning a strong buy rating, resulting in a current consensus rating of "Hold".
• During the latest quarter, Cleveland-Cliffs reported earnings of (0.50) EPS, surpassing the consensus estimate of (0.68) EPS, with revenue increasing by 7.5% year-over-year to $4.93 billion.

Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) - Equities researchers at Zacks Research reduced their Q2 2027 earnings per share (EPS) estimates for Cleveland-Cliffs in a note issued to investors on Friday, August 1st. Zacks Research analyst A. Barman now forecasts that the mining company will post earnings of $0.11 per share for the quarter, down from their previous estimate of $0.15. The consensus estimate for Cleveland-Cliffs' current full-year earnings is ($0.79) per share. Zacks Research also issued estimates for Cleveland-Cliffs' FY2027 earnings at $0.54 EPS.

Several other research analysts also recently weighed in on CLF. B. Riley restated a "buy" rating and set a $17.00 price target (down previously from $20.00) on shares of Cleveland-Cliffs in a research report on Wednesday, April 23rd. Morgan Stanley upped their price target on shares of Cleveland-Cliffs from $8.00 to $10.50 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. Citigroup upped their price target on shares of Cleveland-Cliffs from $7.50 to $11.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. KeyCorp upgraded shares of Cleveland-Cliffs from a "sector weight" rating to an "overweight" rating and set a $14.00 price objective for the company in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cleveland-Cliffs from $7.50 to $10.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cleveland-Cliffs has an average rating of "Hold" and a consensus target price of $11.09.

Cleveland-Cliffs Stock Performance

Shares of CLF traded down $0.07 during trading hours on Monday, reaching $9.64. 17,153,737 shares of the company traded hands, compared to its average volume of 28,909,782. Cleveland-Cliffs has a 12-month low of $5.63 and a 12-month high of $14.34. The company has a quick ratio of 0.61, a current ratio of 2.04 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $4.77 billion, a P/E ratio of -2.83 and a beta of 1.99. The business has a fifty day moving average price of $8.49 and a 200-day moving average price of $8.83.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The mining company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.18. Cleveland-Cliffs had a negative return on equity of 17.97% and a negative net margin of 9.03%. The company had revenue of $4.93 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same quarter last year, the business posted $0.11 earnings per share. The firm's revenue was up 7.5% on a year-over-year basis.

Institutional Investors Weigh In On Cleveland-Cliffs

A number of hedge funds have recently added to or reduced their stakes in the stock. Trust Co. of Toledo NA OH bought a new position in Cleveland-Cliffs in the second quarter valued at $27,000. Atwood & Palmer Inc. acquired a new stake in shares of Cleveland-Cliffs during the second quarter worth $27,000. Estabrook Capital Management lifted its holdings in shares of Cleveland-Cliffs by 207.7% during the fourth quarter. Estabrook Capital Management now owns 4,000 shares of the mining company's stock worth $38,000 after buying an additional 2,700 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Cleveland-Cliffs during the first quarter worth $36,000. Finally, Fifth Third Bancorp lifted its holdings in shares of Cleveland-Cliffs by 36.6% during the first quarter. Fifth Third Bancorp now owns 6,216 shares of the mining company's stock worth $51,000 after buying an additional 1,664 shares in the last quarter. Institutional investors own 67.68% of the company's stock.

Insider Buying and Selling

In other Cleveland-Cliffs news, EVP James D. Graham sold 120,000 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $6.85, for a total value of $822,000.00. Following the sale, the executive vice president directly owned 492,249 shares in the company, valued at $3,371,905.65. This trade represents a 19.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.76% of the stock is owned by corporate insiders.

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.