Equities research analysts predict that Cleveland-Cliffs Inc (NYSE:CLF) will announce sales of $665.87 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Cleveland-Cliffs’ earnings. The highest sales estimate is $758.20 million and the lowest is $608.00 million. Cleveland-Cliffs reported sales of $754.00 million in the same quarter last year, which indicates a negative year-over-year growth rate of 11.7%. The business is scheduled to issue its next quarterly earnings report on Thursday, February 8th.

According to Zacks, analysts expect that Cleveland-Cliffs will report full-year sales of $665.87 million for the current financial year, with estimates ranging from $2.29 billion to $2.47 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.36 billion per share, with estimates ranging from $2.17 billion to $2.51 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Cleveland-Cliffs.

Cleveland-Cliffs (NYSE:CLF) last issued its earnings results on Friday, October 20th. The mining company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. The company had revenue of $698.00 million for the quarter, compared to analysts’ expectations of $669.25 million. Cleveland-Cliffs had a net margin of 5.48% and a negative return on equity of 29.06%. The firm’s revenue was up 26.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.11) EPS.

A number of equities research analysts have recently weighed in on the stock. B. Riley reaffirmed a “buy” rating on shares of Cleveland-Cliffs in a research note on Wednesday, November 1st. FBR & Co set a $10.00 target price on shares of Cleveland-Cliffs and gave the company a “buy” rating in a research note on Monday, October 2nd. KeyCorp reaffirmed a “hold” rating on shares of Cleveland-Cliffs in a research note on Tuesday, September 19th. Cowen set a $7.00 target price on shares of Cleveland-Cliffs and gave the company a “hold” rating in a research note on Tuesday, October 17th. Finally, Zacks Investment Research lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $8.88.

Shares of Cleveland-Cliffs (NYSE:CLF) traded down $0.10 on Wednesday, hitting $7.21. 5,673,775 shares of the stock were exchanged, compared to its average volume of 14,126,386. The company has a market cap of $2,158.59, a price-to-earnings ratio of 13.87 and a beta of 1.59. The company has a debt-to-equity ratio of -2.03, a current ratio of 1.89 and a quick ratio of 1.18. Cleveland-Cliffs has a 52-week low of $5.56 and a 52-week high of $12.37.

A number of large investors have recently bought and sold shares of CLF. Nordea Investment Management AB raised its holdings in Cleveland-Cliffs by 12.1% in the second quarter. Nordea Investment Management AB now owns 716,957 shares of the mining company’s stock worth $4,961,000 after buying an additional 77,549 shares during the last quarter. Voya Investment Management LLC raised its holdings in Cleveland-Cliffs by 19.0% in the second quarter. Voya Investment Management LLC now owns 137,280 shares of the mining company’s stock worth $950,000 after buying an additional 21,881 shares during the last quarter. Alps Advisors Inc. raised its holdings in Cleveland-Cliffs by 0.3% in the second quarter. Alps Advisors Inc. now owns 52,796 shares of the mining company’s stock worth $365,000 after buying an additional 137 shares during the last quarter. BlackRock Inc. raised its holdings in Cleveland-Cliffs by 1.6% in the second quarter. BlackRock Inc. now owns 18,860,269 shares of the mining company’s stock worth $130,512,000 after buying an additional 306,081 shares during the last quarter. Finally, State Street Corp raised its holdings in Cleveland-Cliffs by 6.5% in the second quarter. State Street Corp now owns 10,720,937 shares of the mining company’s stock worth $74,189,000 after buying an additional 653,261 shares during the last quarter. 56.74% of the stock is currently owned by institutional investors and hedge funds.

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Cleveland-Cliffs Company Profile

Cleveland-Cliffs Inc, formerly Cliffs Natural Resources Inc, is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. The Company’s segments include U.S. Iron Ore and Asia Pacific Iron Ore.

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Earnings History and Estimates for Cleveland-Cliffs (NYSE:CLF)

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