Cleveland-Cliffs (CLF) to Release Earnings on Monday

Cleveland-Cliffs (NYSE:CLF) will issue its quarterly earnings data after the market closes on Monday, April 22nd. Analysts expect the company to announce earnings of $0.24 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Cleveland-Cliffs (NYSE:CLF) last released its earnings results on Tuesday, January 30th. The mining company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.16 billion. Cleveland-Cliffs had a return on equity of 6.79% and a net margin of 1.81%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.30) earnings per share. On average, analysts expect Cleveland-Cliffs to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Cleveland-Cliffs Price Performance

CLF opened at $20.79 on Friday. The stock has a fifty day moving average of $20.95 and a 200-day moving average of $18.88. The firm has a market capitalization of $9.88 billion, a P/E ratio of 27.00, a PEG ratio of 0.75 and a beta of 2.03. Cleveland-Cliffs has a 12-month low of $13.61 and a 12-month high of $22.97. The company has a quick ratio of 0.62, a current ratio of 1.89 and a debt-to-equity ratio of 0.39.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CLF. BNP Paribas downgraded shares of Cleveland-Cliffs from a “neutral” rating to an “underperform” rating and set a $16.50 price target on the stock. in a research note on Wednesday, February 28th. Wolfe Research reaffirmed an “underperform” rating and issued a $18.00 price target on shares of Cleveland-Cliffs in a research note on Tuesday, April 9th. Argus downgraded shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 price target on shares of Cleveland-Cliffs in a research note on Tuesday, March 26th. Finally, Citigroup downgraded shares of Cleveland-Cliffs from a “buy” rating to a “neutral” rating and set a $22.00 price target on the stock. in a research note on Wednesday, March 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.92.

Insiders Place Their Bets

In other Cleveland-Cliffs news, Director Susan Miranda Green sold 6,500 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $20.40, for a total transaction of $132,600.00. Following the transaction, the director now directly owns 90,286 shares of the company’s stock, valued at $1,841,834.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Cleveland-Cliffs news, Director Susan Miranda Green sold 6,500 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $20.40, for a total transaction of $132,600.00. Following the transaction, the director now directly owns 90,286 shares of the company’s stock, valued at $1,841,834.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arlene M. Yocum bought 2,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were acquired at an average cost of $20.02 per share, for a total transaction of $40,040.00. Following the completion of the transaction, the director now directly owns 94,887 shares of the company’s stock, valued at $1,899,637.74. The disclosure for this purchase can be found here. Insiders have sold 221,066 shares of company stock valued at $4,464,688 over the last three months. 1.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cleveland-Cliffs

Hedge funds and other institutional investors have recently made changes to their positions in the business. Coppell Advisory Solutions Corp. acquired a new stake in shares of Cleveland-Cliffs in the fourth quarter valued at about $165,000. Point72 Hong Kong Ltd acquired a new stake in shares of Cleveland-Cliffs in the fourth quarter valued at about $159,000. Providence Capital Advisors LLC grew its position in shares of Cleveland-Cliffs by 1,733.0% in the first quarter. Providence Capital Advisors LLC now owns 2,108 shares of the mining company’s stock valued at $115,000 after purchasing an additional 1,993 shares during the last quarter. Altshuler Shaham Ltd grew its position in shares of Cleveland-Cliffs by 25.6% in the fourth quarter. Altshuler Shaham Ltd now owns 6,915 shares of the mining company’s stock valued at $111,000 after purchasing an additional 1,408 shares during the last quarter. Finally, Coppell Advisory Solutions LLC acquired a new stake in shares of Cleveland-Cliffs in the second quarter valued at about $87,000. 67.68% of the stock is owned by institutional investors and hedge funds.

Cleveland-Cliffs Company Profile

Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America. The company is vertically integrated from mining through iron making, steelmaking, rolling, finishing and downstream with hot and cold stamping of steel parts and components. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017.