Zacks Research Issues Positive Forecast for CLF Earnings

Key Points

• Zacks Research has increased its earnings per share estimate for Cleveland-Cliffs for Q1 2027 from $0.07 to $0.13, indicating a positive outlook for the mining company.
• Cleveland-Cliffs currently has a consensus rating of "Hold" among analysts, with target price estimates ranging from $8.00 to $14.50.
• During the last quarter, Cleveland-Cliffs reported revenues of $4.93 billion, surpassing analysts' expectations and showing a 7.5% increase year-over-year.

Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) - Investment analysts at Zacks Research lifted their Q1 2027 earnings per share estimates for shares of Cleveland-Cliffs in a research report issued on Thursday, October 9th. Zacks Research analyst Team now forecasts that the mining company will post earnings per share of $0.13 for the quarter, up from their previous forecast of $0.07. The consensus estimate for Cleveland-Cliffs' current full-year earnings is ($0.79) per share. Zacks Research also issued estimates for Cleveland-Cliffs' Q2 2027 earnings at $0.05 EPS.

A number of other equities analysts also recently issued reports on CLF. Weiss Ratings reiterated a "sell (d)" rating on shares of Cleveland-Cliffs in a research note on Wednesday. Morgan Stanley lifted their price target on Cleveland-Cliffs from $8.00 to $10.50 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group lifted their price target on Cleveland-Cliffs from $12.85 to $14.50 and gave the company a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. boosted their target price on Cleveland-Cliffs from $7.50 to $10.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, Citigroup boosted their target price on Cleveland-Cliffs from $7.50 to $11.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $11.60.

Cleveland-Cliffs Price Performance

CLF stock opened at $14.20 on Friday. The company has a market capitalization of $7.02 billion, a P/E ratio of -4.16 and a beta of 1.96. 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 52-week low of $5.63 and a 52-week high of $14.51. The business has a 50-day simple moving average of $11.17 and a two-hundred day simple moving average of $9.14.

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

Institutional Investors Weigh In On Cleveland-Cliffs

A number of hedge funds and other institutional investors have recently bought and sold shares of CLF. Trust Co. of Toledo NA OH bought a new position in shares of Cleveland-Cliffs in the second quarter worth $27,000. Atwood & Palmer Inc. purchased a new position in Cleveland-Cliffs in the second quarter worth $27,000. Winch Advisory Services LLC grew its position in Cleveland-Cliffs by 131.3% in the second quarter. Winch Advisory Services LLC now owns 4,070 shares of the mining company's stock worth $31,000 after acquiring an additional 2,310 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Cleveland-Cliffs in the first quarter worth $36,000. Finally, Islay Capital Management LLC purchased a new position in Cleveland-Cliffs in the second quarter worth $38,000. Institutional investors own 67.68% 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.

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