Zacks: Analysts Expect Cliffs Natural Resources Inc. (CLF) Will Announce Quarterly Sales of $656.14 Million
Wall Street analysts expect Cliffs Natural Resources Inc. (NYSE:CLF) to report $656.14 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Cliffs Natural Resources’ earnings. The highest sales estimate is $703.60 million and the lowest is $594.00 million. Cliffs Natural Resources reported sales of $553.30 million in the same quarter last year, which suggests a positive year over year growth rate of 18.6%. The firm is scheduled to report its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Cliffs Natural Resources will report full-year sales of $656.14 million for the current fiscal year, with estimates ranging from $2.22 billion to $2.47 billion. For the next financial year, analysts anticipate that the business will report sales of $2.30 billion per share, with estimates ranging from $2.03 billion to $2.55 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Cliffs Natural Resources.
Cliffs Natural Resources (NYSE:CLF) last announced its quarterly earnings results on Thursday, July 27th. The mining company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.08. Cliffs Natural Resources had a negative return on equity of 13.83% and a net margin of 2.44%. The firm had revenue of $569.30 million for the quarter, compared to analyst estimates of $485.93 million. During the same period last year, the firm posted $0.07 earnings per share. The business’s revenue for the quarter was up 14.7% on a year-over-year basis.
Several equities research analysts have commented on the stock. Cowen and Company reaffirmed a “hold” rating on shares of Cliffs Natural Resources in a report on Thursday. TheStreet raised shares of Cliffs Natural Resources from a “d+” rating to a “c” rating in a report on Monday. Clarkson Capital reaffirmed a “neutral” rating on shares of Cliffs Natural Resources in a report on Thursday, July 27th. ValuEngine raised shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Axiom Securities reaffirmed a “sell” rating on shares of Cliffs Natural Resources in a report on Monday. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Cliffs Natural Resources has a consensus rating of “Hold” and a consensus target price of $8.50.
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Shares of Cliffs Natural Resources (NYSE CLF) traded up 1.50% during mid-day trading on Monday, hitting $7.43. The stock had a trading volume of 6,724,212 shares. Cliffs Natural Resources has a 12 month low of $4.91 and a 12 month high of $12.37. The stock has a market cap of $2.20 billion, a P/E ratio of 15.16 and a beta of 1.68. The firm has a 50 day moving average price of $6.94 and a 200-day moving average price of $7.88.
A number of hedge funds and other institutional investors have recently modified their holdings of CLF. Russell Investments Group Ltd. bought a new position in shares of Cliffs Natural Resources during the fourth quarter worth $442,000. Dimensional Fund Advisors LP raised its position in shares of Cliffs Natural Resources by 91.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,705,786 shares of the mining company’s stock worth $22,756,000 after buying an additional 1,289,050 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Cliffs Natural Resources by 3.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 230,451 shares of the mining company’s stock worth $1,939,000 after buying an additional 7,715 shares in the last quarter. Alpha Windward LLC bought a new position in shares of Cliffs Natural Resources during the first quarter worth $341,000. Finally, SFE Investment Counsel bought a new position in shares of Cliffs Natural Resources during the first quarter worth $112,000. 66.47% of the stock is currently owned by hedge funds and other institutional investors.
About Cliffs Natural Resources
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. The Company is a producer of iron ore pellets, primarily selling production from U.S.
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