Zacks Research Cuts Earnings Estimates for Cleveland-Cliffs

Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) - Analysts at Zacks Research decreased their Q3 2026 EPS estimates for shares of Cleveland-Cliffs in a research note issued to investors on Wednesday, May 21st. Zacks Research analyst A. Barman now anticipates that the mining company will post earnings per share of $0.06 for the quarter, down from their prior forecast of $0.13. The consensus estimate for Cleveland-Cliffs' current full-year earnings is ($0.79) per share. Zacks Research also issued estimates for Cleveland-Cliffs' Q4 2026 earnings at $0.01 EPS, Q1 2027 earnings at $0.06 EPS and FY2027 earnings at $0.48 EPS.

Several other brokerages also recently commented on CLF. The Goldman Sachs Group cut their price objective on shares of Cleveland-Cliffs from $13.00 to $11.25 and set a "buy" rating on the stock in a research report on Monday, May 12th. B. Riley reiterated a "buy" rating and set a $17.00 price target (down previously from $20.00) on shares of Cleveland-Cliffs in a report on Wednesday, April 23rd. Glj Research decreased their price objective on shares of Cleveland-Cliffs from $14.54 to $12.90 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Morgan Stanley lowered their price objective on Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $14.02.

Cleveland-Cliffs Trading Down 5.5%

Cleveland-Cliffs stock opened at $7.01 on Thursday. Cleveland-Cliffs has a 12 month low of $6.17 and a 12 month high of $17.41. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of -7.23 and a beta of 2.03. The business's fifty day simple moving average is $8.00 and its two-hundred day simple moving average is $9.83. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released its earnings results on Wednesday, May 7th. The mining company reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.78) by ($0.14). The business had revenue of $4.63 billion for the quarter, compared to analysts' expectations of $4.71 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. Cleveland-Cliffs's revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 earnings per share.

Hedge Funds Weigh In On Cleveland-Cliffs

Institutional investors have recently made changes to their positions in the business. Barclays PLC increased its holdings in Cleveland-Cliffs by 232.4% during the third quarter. Barclays PLC now owns 3,113,337 shares of the mining company's stock valued at $39,757,000 after buying an additional 2,176,837 shares during the last quarter. Arkadios Wealth Advisors increased its stake in shares of Cleveland-Cliffs by 31.4% in the 4th quarter. Arkadios Wealth Advisors now owns 68,251 shares of the mining company's stock worth $642,000 after purchasing an additional 16,300 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Cleveland-Cliffs by 27.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 138,553 shares of the mining company's stock worth $1,302,000 after purchasing an additional 29,532 shares during the period. D.B. Root & Company LLC purchased a new position in Cleveland-Cliffs during the fourth quarter valued at $95,000. Finally, Secure Asset Management LLC lifted its position in Cleveland-Cliffs by 13.1% during the fourth quarter. Secure Asset Management LLC now owns 31,390 shares of the mining company's stock valued at $295,000 after purchasing an additional 3,625 shares in the last quarter. Institutional investors own 67.68% of the company's stock.

Insider Activity at Cleveland-Cliffs

In other news, EVP Keith Koci bought 9,500 shares of the stock in a transaction on Friday, February 28th. The shares were bought at an average price of $10.81 per share, with a total value of $102,695.00. Following the completion of the acquisition, the executive vice president now owns 543,475 shares in the company, valued at $5,874,964.75. The trade was a 1.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jane M. Cronin purchased 10,000 shares of the business's stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $10.56 per share, with a total value of $105,600.00. Following the completion of the purchase, the director now owns 24,522 shares in the company, valued at approximately $258,952.32. This trade represents a 68.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 23,500 shares of company stock worth $243,095 over the last quarter. Company insiders own 1.71% of the company's stock.

About Cleveland-Cliffs

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.