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

Earnings results for Cleveland-Cliffs (NYSE:CLF)

Cleveland-Cliffs Inc. is expected* to report earnings on 07/22/2021 before market open. The report will be for the fiscal Quarter ending Jun 2021. According to Zacks Investment Research, based on 3 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.48. The reported EPS for the same quarter last year was $-0.31.

Cleveland-Cliffs last issued its earnings results on April 21st, 2021. The mining company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by $0.14. The firm earned $4 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Its revenue for the quarter was up 1014.2% compared to the same quarter last year. Cleveland-Cliffs has generated $0.17 earnings per share over the last year. Cleveland-Cliffs has confirmed that its next quarterly earnings report will be published on Thursday, July 22nd, 2021. Cleveland-Cliffs will be holding an earnings conference call on Thursday, July 22nd at 10:00 AM Eastern. Interested parties can register for or listen to the call using this link.

Analyst Opinion on Cleveland-Cliffs (NYSE:CLF)

10 Wall Street analysts have issued ratings and price targets for Cleveland-Cliffs in the last 12 months. Their average twelve-month price target is $25.06, predicting that the stock has a possible upside of 18.32%. The high price target for CLF is $39.00 and the low price target for CLF is $19.20. There are currently 3 hold ratings and 7 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Cleveland-Cliffs has received a consensus rating of Buy. The company’s average rating score is 2.70, and is based on 7 buy ratings, 3 hold ratings, and no sell ratings. According to analysts’ consensus price target of $25.06, Cleveland-Cliffs has a forecasted upside of 18.3% from its current price of $21.18. Cleveland-Cliffs has been the subject of 7 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: Cleveland-Cliffs (NYSE:CLF)

Cleveland-Cliffs does not currently pay a dividend. Cleveland-Cliffs does not have a long track record of dividend growth.

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

In the past three months, Cleveland-Cliffs insiders have sold 2,572.19% more of their company’s stock than they have bought. Specifically, they have bought $24,934.00 in company stock and sold $666,284.00 in company stock. Only 1.34% of the stock of Cleveland-Cliffs is held by insiders. 64.64% 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 decrease by -52.20% in the coming year, from $5.67 to $2.71 per share. The P/E ratio of Cleveland-Cliffs is -176.50, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of Cleveland-Cliffs is -176.50, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Cleveland-Cliffs has a PEG Ratio of 0.16. PEG Ratios below 1 indicate that a company could be undervalued. Cleveland-Cliffs has a P/B Ratio of 3.61. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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