Wall Street analysts predict that Cleveland-Cliffs Inc (NYSE:CLF) will announce earnings per share of ($0.20) for the current quarter, Zacks reports. Two analysts have provided estimates for Cleveland-Cliffs’ earnings, with the highest EPS estimate coming in at ($0.15) and the lowest estimate coming in at ($0.29). Cleveland-Cliffs posted earnings of ($0.11) per share during the same quarter last year, which would indicate a negative year over year growth rate of 81.8%. The company is expected to announce its next earnings results on Thursday, April 26th.

On average, analysts expect that Cleveland-Cliffs will report full year earnings of $1.02 per share for the current fiscal year, with EPS estimates ranging from $0.82 to $1.26. For the next financial year, analysts forecast that the firm will report earnings of $1.00 per share, with EPS estimates ranging from $0.88 to $1.13. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Cleveland-Cliffs.

Cleveland-Cliffs (NYSE:CLF) last issued its earnings results on Thursday, January 25th. The mining company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.11. The company had revenue of $600.90 million during the quarter, compared to the consensus estimate of $612.50 million. Cleveland-Cliffs had a negative return on equity of 35.92% and a net margin of 16.09%. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS.

CLF has been the subject of several research reports. B. Riley set a $10.00 price target on Cleveland-Cliffs and gave the stock a “buy” rating in a report on Friday, November 17th. Credit Suisse Group raised Cleveland-Cliffs from an “underperform” rating to an “outperform” rating in a report on Wednesday, February 7th. Zacks Investment Research raised Cleveland-Cliffs from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a report on Thursday, January 4th. FBR & Co reissued a “buy” rating and set a $10.00 price target on shares of Cleveland-Cliffs in a report on Friday, October 20th. Finally, ValuEngine cut Cleveland-Cliffs from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $9.63.

Cleveland-Cliffs (NYSE:CLF) traded up $0.16 during trading hours on Tuesday, reaching $7.10. The company had a trading volume of 8,357,257 shares, compared to its average volume of 16,848,811. The firm has a market cap of $2,100.00, a PE ratio of 5.45 and a beta of 1.58. The company has a debt-to-equity ratio of -5.28, a quick ratio of 2.80 and a current ratio of 3.42. Cleveland-Cliffs has a 1-year low of $5.56 and a 1-year high of $12.22.

A number of hedge funds and other institutional investors have recently made changes to their positions in CLF. Prudential Financial Inc. raised its holdings in Cleveland-Cliffs by 8.9% in the 2nd quarter. Prudential Financial Inc. now owns 30,622 shares of the mining company’s stock valued at $212,000 after acquiring an additional 2,490 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Cleveland-Cliffs by 201.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 104,656 shares of the mining company’s stock valued at $724,000 after acquiring an additional 69,979 shares in the last quarter. BlackRock Inc. raised its holdings in Cleveland-Cliffs by 1.6% in the 2nd quarter. BlackRock Inc. now owns 18,860,269 shares of the mining company’s stock valued at $130,512,000 after acquiring an additional 306,081 shares in the last quarter. Northern Trust Corp raised its holdings in Cleveland-Cliffs by 16.8% in the 2nd quarter. Northern Trust Corp now owns 4,977,719 shares of the mining company’s stock valued at $34,446,000 after acquiring an additional 717,021 shares in the last quarter. Finally, Advisor Group Inc. raised its holdings in Cleveland-Cliffs by 23.5% in the 2nd quarter. Advisor Group Inc. now owns 32,566 shares of the mining company’s stock valued at $225,000 after acquiring an additional 6,204 shares in the last quarter. 56.74% of the stock is owned by hedge funds and other institutional investors.

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About Cleveland-Cliffs

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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