Will stock surge before Earnings results? Cleveland-Cliffs (NYSE:CLF)

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Earnings results for Cleveland-Cliffs (NYSE:CLF)

Cleveland-Cliffs Inc. is expected* to report earnings on 10/23/2020 before market open. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 0 analysts’ forecasts, the consensus EPS forecast for the quarter is $-0.18. The reported EPS for the same quarter last year was $0.33.

Cleveland-Cliffs last announced its earnings data on July 30th, 2020. The mining company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.20. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. Cleveland-Cliffs has generated $1.12 earnings per share over the last year and currently has a price-to-earnings ratio of 118.1. Cleveland-Cliffs has confirmed that its next quarterly earnings report will be published on Friday, October 23rd, 2020.

Analyst Opinion on Cleveland-Cliffs (NYSE:CLF)

7 Wall Street analysts have issued ratings and price targets for Cleveland-Cliffs in the last 12 months. Their average twelve-month price target is $6.88, predicting that the stock has a possible downside of 16.87%. The high price target for CLF is $10.00 and the low price target for CLF is $4.00. There are currently 5 hold ratings, 1 buy rating and 1 strong buy rating for the stock, resulting in a consensus rating of “Hold.”

Cleveland-Cliffs has received a consensus rating of Hold. The company’s average rating score is 2.43, and is based on 1 buy rating, 5 hold ratings, and no sell ratings. According to analysts’ consensus price target of $6.88, Cleveland-Cliffs has a forecasted downside of 16.9% from its current price of $8.27. Cleveland-Cliffs has only been the subject of 1 research reports in the past 90 days.

Dividend Strength: Cleveland-Cliffs (NYSE:CLF)

Cleveland-Cliffs does not currently pay a dividend. Cleveland-Cliffs has only been increasing its dividend for 1 years.

Insiders buying/selling: Cleveland-Cliffs (NYSE:CLF)

In the past three months, Cleveland-Cliffs insiders have not sold or bought any company stock. Only 1.83% of the stock of Cleveland-Cliffs is held by insiders. 67.48% of the stock of Cleveland-Cliffs is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Cleveland-Cliffs (NYSE:CLF

Earnings for Cleveland-Cliffs are expected to grow in the coming year, from ($0.59) to $0.86 per share. The P/E ratio of Cleveland-Cliffs is 118.14, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 19.48. The P/E ratio of Cleveland-Cliffs is 118.14, which means that it is trading at a more expensive P/E ratio than the Basic Materials sector average P/E ratio of about 38.58. Cleveland-Cliffs has a P/B Ratio of 6.22. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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