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The most recent trading session ended with Cleveland-Cliffs (CLF) standing at $7.91, reflecting no shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.74%. On the other hand, the Dow registered a gain of 0.05%, and the technology-centric Nasdaq increased by 1.26%.
Coming into today, shares of the mining company had lost 15.22% in the past month. In that same time, the Basic Materials sector lost 2.61%, while the S&P 500 lost 4.77%.
Investors will be eagerly watching for the performance of Cleveland-Cliffs in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 7, 2025. In that report, analysts expect Cleveland-Cliffs to post earnings of -$0.64 per share. This would mark a year-over-year decline of 455.56%. Meanwhile, the latest consensus estimate predicts the revenue to be $4.6 billion, indicating a 11.45% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.73 per share and revenue of $20.07 billion, which would represent changes of 0% and +4.63%, respectively, from the prior 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 company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 25.75% lower. Cleveland-Cliffs currently has 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 48, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.