What is Seaport Res Ptn's Estimate for CLF FY2026 Earnings?

Key Points

• Seaport Res Ptn has revised Cleveland-Cliffs' FY2026 earnings per share estimate down to $0.27, from a previous estimate of $0.30, while the consensus is at ($0.79) per share.
• Cleveland-Cliffs reported a quarterly loss of ($0.50) earnings per share, surpassing consensus estimates, while revenue for the quarter was $4.93 billion, a 7.5% increase year-over-year.
• Analysts' ratings for Cleveland-Cliffs are mixed, with two sell ratings, three hold ratings, and three buy ratings, and a consensus price target of $11.09.

Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) - Seaport Res Ptn cut their FY2026 earnings per share (EPS) estimates for Cleveland-Cliffs in a report issued on Tuesday, July 29th. Seaport Res Ptn analyst M. Englert now expects that the mining company will post earnings of $0.27 per share for the year, down from their previous estimate of $0.30. The consensus estimate for Cleveland-Cliffs' current full-year earnings is ($0.79) per share.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The mining company reported ($0.50) earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $4.93 billion for the quarter, compared to analysts' expectations of $4.90 billion. During the same quarter last year, the business posted $0.11 EPS. Cleveland-Cliffs's revenue was up 7.5% on a year-over-year basis.

A number of other equities research analysts also recently commented on the company. Glj Research downgraded Cleveland-Cliffs from a "strong-buy" rating to a "strong sell" rating and set a $3.91 price objective for the company. in a report on Wednesday, May 28th. B. Riley reaffirmed a "buy" rating and set a $17.00 target price (down from $20.00) on shares of Cleveland-Cliffs in a research report on Wednesday, April 23rd. KeyCorp raised shares of Cleveland-Cliffs from a "sector weight" rating to an "overweight" rating and set a $14.00 price objective on the stock in a research note on Tuesday, July 22nd. Morgan Stanley lifted their target price on Cleveland-Cliffs from $8.00 to $10.50 and gave the stock an "equal weight" rating in a research note on Tuesday, July 22nd. Finally, Citigroup lifted their price objective on Cleveland-Cliffs from $7.50 to $11.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. 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 issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $11.09.

Cleveland-Cliffs Price Performance

Shares of NYSE:CLF traded down $0.46 during midday trading on Friday, reaching $10.06. 20,084,984 shares of the company's stock were exchanged, compared to its average volume of 28,170,176. The company's 50 day simple moving average is $8.42 and its two-hundred day simple moving average is $8.85. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.61 and a current ratio of 2.04. Cleveland-Cliffs has a 12 month low of $5.63 and a 12 month high of $14.38. The firm has a market capitalization of $4.98 billion, a PE ratio of -2.95 and a beta of 1.98.

Hedge Funds Weigh In On Cleveland-Cliffs

A number of institutional investors have recently bought and sold shares of the company. Fairfax Financial Holdings Ltd. Can purchased a new stake in Cleveland-Cliffs during the fourth quarter worth about $55,453,000. Norges Bank acquired a new position in Cleveland-Cliffs in the fourth quarter worth about $45,381,000. Slate Path Capital LP lifted its position in Cleveland-Cliffs by 35.4% in the 4th quarter. Slate Path Capital LP now owns 16,208,000 shares of the mining company's stock valued at $152,355,000 after purchasing an additional 4,239,000 shares during the last quarter. Woodline Partners LP bought a new stake in Cleveland-Cliffs in the first quarter worth about $22,696,000. Finally, Jump Financial LLC boosted its position in shares of Cleveland-Cliffs by 362.5% in the 1st quarter. Jump Financial LLC now owns 3,000,102 shares of the mining company's stock valued at $24,661,000 after purchasing an additional 2,351,372 shares during the period. 67.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP James D. Graham sold 120,000 shares of Cleveland-Cliffs stock in a transaction that occurred 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 transaction, the executive vice president owned 492,249 shares of the company's stock, valued at $3,371,905.65. The trade was a 19.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.71% of the company's stock.

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.