Cleveland-Cliffs (CLF) Stock Dips While Market Gains: Key Facts

In the latest trading session, Cleveland-Cliffs (CLF) closed at $12.20, marking a -4.98% move from the previous day. This change lagged the S&P 500's daily gain of 0.41%. Elsewhere, the Dow gained 0.18%, while the tech-heavy Nasdaq added 0.31%. The stock of mining company has risen by 19.44% in the past month, leading the Basic Materials sector's gain of 4.37% and the S&P 500's gain of 3.15%.Investors will be eagerly watching for the performance of Cleveland-Cliffs in its upcoming earnings disclosure. On that day, Cleveland-Cliffs is projected to report earnings of -$0.44 per share, which would represent a year-over-year decline of 33.33%. Meanwhile, the latest consensus estimate predicts the revenue to be $4.91 billion, indicating a 7.42% increase compared to the same quarter of the previous year. For the annual period, the Zacks Consensus Estimates anticipate earnings of -$2.15 per share and a revenue of $19.31 billion, signifying shifts of -194.52% and +0.65%, respectively, from the last year. Investors should also pay attention to any latest changes in analyst estimates for Cleveland-Cliffs. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 3.87% fall in the Zacks Consensus EPS estimate. Cleveland-Cliffs currently has a Zacks Rank of #3 (Hold). The Steel - Producers industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 178, finds itself in the bottom 28% echelons of all 250+ industries. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. 7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.5% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cleveland-Cliffs Inc. (CLF): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks