$0.35 EPS Expected for Cliffs Natural Resources Inc. (CLF) This Quarter
Wall Street analysts expect that Cliffs Natural Resources Inc. (NYSE:CLF) will report $0.35 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Cliffs Natural Resources’ earnings, with the highest EPS estimate coming in at $0.38 and the lowest estimate coming in at $0.30. Cliffs Natural Resources reported earnings of ($0.02) per share in the same quarter last year, which would indicate a positive year over year growth rate of 1,850%. The firm is scheduled to issue its next earnings results on Thursday, October 26th.
On average, analysts expect that Cliffs Natural Resources will report full-year earnings of $0.92 per share for the current fiscal year, with EPS estimates ranging from $0.71 to $1.22. For the next fiscal year, analysts expect that the business will report earnings of $0.98 per share, with EPS estimates ranging from $0.80 to $1.38. Zacks’ EPS averages are an average based on a survey of analysts that follow Cliffs Natural Resources.
Cliffs Natural Resources (NYSE:CLF) last issued its earnings results on Thursday, July 27th. The mining company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $569.30 million for the quarter, compared to analyst estimates of $485.93 million. During the same period in the prior year, the firm earned $0.07 earnings per share. Cliffs Natural Resources’s revenue for the quarter was up 14.7% on a year-over-year basis.
CLF has been the topic of several analyst reports. Jefferies Group LLC initiated coverage on Cliffs Natural Resources in a report on Friday, July 7th. They issued a “buy” rating and a $9.00 target price on the stock. BidaskClub raised Cliffs Natural Resources from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. FBR & Co set a $10.00 target price on Cliffs Natural Resources and gave the stock a “buy” rating in a report on Saturday, June 17th. ValuEngine downgraded Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Finally, TheStreet raised Cliffs Natural Resources from a “d+” rating to a “c” rating in a report on Monday, July 31st. Five research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $8.31.
Shares of Cliffs Natural Resources (NYSE CLF) traded up 1.81% during trading on Friday, hitting $8.45. The stock had a trading volume of 6,562,295 shares. The firm has a 50 day moving average price of $7.61 and a 200-day moving average price of $7.50. Cliffs Natural Resources has a 52 week low of $4.91 and a 52 week high of $12.37. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 38.76 and a beta of 1.70. Cliffs Natural Resources also was the target of unusually large options trading on Monday. Stock traders bought 1,191 put options on the stock. This is an increase of 121% compared to the typical daily volume of 538 put options.
In other Cliffs Natural Resources news, Chairman Lourenco Goncalves purchased 100,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was purchased at an average price of $7.19 per share, for a total transaction of $719,000.00. Following the completion of the purchase, the chairman now directly owns 3,486,970 shares of the company’s stock, valued at $25,071,314.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.46% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of CLF. Quantum Capital Management purchased a new position in shares of Cliffs Natural Resources in the first quarter worth $113,000. Nuveen Asset Management LLC raised its stake in shares of Cliffs Natural Resources by 1.2% in the first quarter. Nuveen Asset Management LLC now owns 13,974 shares of the mining company’s stock worth $115,000 after purchasing an additional 164 shares during the last quarter. Comerica Bank raised its stake in shares of Cliffs Natural Resources by 49.5% in the second quarter. Comerica Bank now owns 15,493 shares of the mining company’s stock worth $116,000 after purchasing an additional 5,129 shares during the last quarter. Invictus RG purchased a new position in shares of Cliffs Natural Resources in the first quarter worth $121,000. Finally, ARP Americas LLC raised its stake in shares of Cliffs Natural Resources by 72.5% in the second quarter. ARP Americas LLC now owns 17,600 shares of the mining company’s stock worth $122,000 after purchasing an additional 7,400 shares during the last quarter. Hedge funds and other institutional investors own 58.30% of the company’s stock.
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About Cliffs Natural Resources
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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