$0.24 EPS Expected for Cleveland-Cliffs Inc (NYSE:CLF) This Quarter

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Brokerages expect Cleveland-Cliffs Inc (NYSE:CLF) to report $0.24 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Cleveland-Cliffs’ earnings. The highest EPS estimate is $0.32 and the lowest is $0.18. Cleveland-Cliffs posted earnings of $0.55 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 56.4%. The firm is scheduled to issue its next earnings report on Friday, February 14th.

On average, analysts expect that Cleveland-Cliffs will report full-year earnings of $1.11 per share for the current financial year, with EPS estimates ranging from $1.06 to $1.20. For the next year, analysts expect that the business will post earnings of $0.82 per share, with EPS estimates ranging from $0.47 to $1.14. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Cleveland-Cliffs.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings data on Wednesday, October 23rd. The mining company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.09. Cleveland-Cliffs had a net margin of 38.99% and a return on equity of 125.91%. The business had revenue of $555.60 million for the quarter, compared to analyst estimates of $544.88 million. During the same quarter last year, the business earned $1.41 earnings per share. The business’s revenue for the quarter was down 25.1% on a year-over-year basis.

A number of analysts have recently commented on the company. B. Riley dropped their price objective on Cleveland-Cliffs from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Cowen set a $10.00 target price on Cleveland-Cliffs and gave the stock a “hold” rating in a report on Thursday, August 22nd. Macquarie set a $10.00 price target on shares of Cleveland-Cliffs and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Credit Suisse Group cut their price target on shares of Cleveland-Cliffs from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Wednesday, September 11th. Finally, Exane BNP Paribas began coverage on shares of Cleveland-Cliffs in a research report on Thursday, November 14th. They set a “neutral” rating for the company. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $10.67.

In related news, Director John T. Baldwin purchased 9,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were purchased at an average price of $7.27 per share, with a total value of $65,430.00. Following the purchase, the director now owns 123,727 shares of the company’s stock, valued at approximately $899,495.29. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.32% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CLF. NEXT Financial Group Inc lifted its holdings in shares of Cleveland-Cliffs by 16.9% in the second quarter. NEXT Financial Group Inc now owns 10,261 shares of the mining company’s stock valued at $109,000 after purchasing an additional 1,486 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Cleveland-Cliffs by 11.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 124,918 shares of the mining company’s stock worth $1,332,000 after acquiring an additional 13,158 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Cleveland-Cliffs during the 2nd quarter worth about $97,000. James Investment Research Inc. boosted its position in Cleveland-Cliffs by 1.5% during the 2nd quarter. James Investment Research Inc. now owns 466,362 shares of the mining company’s stock worth $4,977,000 after acquiring an additional 7,023 shares during the period. Finally, Quantitative Systematic Strategies LLC boosted its position in Cleveland-Cliffs by 155.6% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 36,480 shares of the mining company’s stock worth $389,000 after acquiring an additional 22,209 shares during the period. Hedge funds and other institutional investors own 80.70% of the company’s stock.

NYSE CLF traded up $0.38 on Friday, reaching $7.89. 247,496 shares of the stock traded hands, compared to its average volume of 7,632,221. The firm’s fifty day simple moving average is $7.45 and its 200 day simple moving average is $8.66. The company has a quick ratio of 1.61, a current ratio of 2.32 and a debt-to-equity ratio of 5.86. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 3.67 and a beta of 2.10. Cleveland-Cliffs has a 12 month low of $6.59 and a 12 month high of $12.26.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Thursday, January 2nd. Cleveland-Cliffs’s dividend payout ratio (DPR) is presently 11.27%.

About Cleveland-Cliffs

Cleveland-Cliffs Inc operates as an iron ore mining company in the United States. The company operates four iron ore mines in Michigan and Minnesota. It sells its products to integrated steel companies and steel producers in the United States and the Asia Pacific. 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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Earnings History and Estimates for Cleveland-Cliffs (NYSE:CLF)

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