Cleveland-Cliffs (CLF) Stock Sinks As Market Gains: What You Should Know

Cleveland-Cliffs (CLF) closed the most recent trading day at $10.81, moving -1.91% from the previous trading session. This change lagged the S&P 500's daily gain of 0.27%. Meanwhile, the Dow gained 0.43%, and the Nasdaq, a tech-heavy index, added 0.37%. Shares of the mining company witnessed a gain of 13.37% over the previous month, beating the performance of the Basic Materials sector with its gain of 5.86%, and the S&P 500's gain of 1.85%.Investors will be eagerly watching for the performance of Cleveland-Cliffs in its upcoming earnings disclosure. In that report, analysts expect Cleveland-Cliffs to post earnings of -$0.43 per share. This would mark a year-over-year decline of 30.3%. Our most recent consensus estimate is calling for quarterly revenue of $4.92 billion, up 7.59% from the year-ago period. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$2.07 per share and a revenue of $19.32 billion, indicating changes of -183.56% and +0.7%, respectively, from the former year. Any recent changes to analyst estimates for Cleveland-Cliffs should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 5.09% lower within the past month. Currently, Cleveland-Cliffs is carrying a Zacks Rank of #3 (Hold). The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 27% of all 250+ industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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