Curious about Cleveland-Cliffs (CLF) Q3 Performance? Explore Wall Street Estimates for Key Metrics

Wall Street analysts forecast that Cleveland-Cliffs (CLF) will report quarterly loss of -$0.48 per share in its upcoming release, pointing to a year-over-year decline of 45.5%. It is anticipated that revenues will amount to $4.89 billion, exhibiting an increase of 6.9% compared to the year-ago quarter.The consensus EPS estimate for the quarter has been revised 22.6% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.Bearing this in mind, let's now explore the average estimates of specific Cleveland-Cliffs metrics that are commonly monitored and projected by Wall Street analysts.Analysts forecast 'Revenues- Other Businesses' to reach $158.71 million. The estimate indicates a change of +5.8% from the prior-year quarter.The collective assessment of analysts points to an estimated 'Revenues- Steelmaking' of $4.72 billion. The estimate points to a change of +6.7% from the year-ago quarter.According to the collective judgment of analysts, 'Revenues- Steelmaking- Coated steel' should come in at $1.41 billion. The estimate indicates a change of +2.2% from the prior-year quarter.Analysts predict that the 'Revenues- Steelmaking- Slab and other steel products' will reach $265.65 million. The estimate indicates a year-over-year change of -3.8%.The consensus among analysts is that 'External Sales Volumes - Total steel shipments' will reach 4274 thousands of tons. Compared to the current estimate, the company reported 3840 thousands of tons in the same quarter of the previous year.The combined assessment of analysts suggests that 'Average net selling price per net ton of steel products' will likely reach $1004.08 . The estimate compares to the year-ago value of $1045.00 .The average prediction of analysts places 'Steel shipments by product - Coated steel' at 1143 thousands of tons. The estimate is in contrast to the year-ago figure of 1078 thousands of tons.Analysts' assessment points toward 'Steel shipments by product - Slab and other steel products' reaching 409 thousands of tons. The estimate compares to the year-ago value of 414 thousands of tons.It is projected by analysts that the 'Steel shipments by product - Plate' will reach 215 thousands of tons. Compared to the current estimate, the company reported 173 thousands of tons in the same quarter of the previous year.Analysts expect 'Steel shipments by product - Cold-rolled steel' to come in at 630 thousands of tons. Compared to the current estimate, the company reported 635 thousands of tons in the same quarter of the previous year.Based on the collective assessment of analysts, 'Steel shipments by product - Hot-rolled steel' should arrive at 1744 thousands of tons. The estimate compares to the year-ago value of 1400 thousands of tons.The consensus estimate for 'Steel shipments by product - Stainless and electrical steel' stands at 132 thousands of tons. The estimate compares to the year-ago value of 140 thousands of tons. View all Key Company Metrics for Cleveland-Cliffs here>>> Shares of Cleveland-Cliffs have experienced a change of +19.1% in the past month compared to the +1% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), CLF is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.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