Analysts expect Cliffs Natural Resources Inc. (NYSE:CLF) to post $661.53 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided 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 would suggest a positive year over year growth rate of 19.6%. The company is expected to announce its next quarterly earnings results before the market opens on Thursday, October 26th.

According to Zacks, analysts expect that Cliffs Natural Resources will report full-year sales of $661.53 million for the current year, with estimates ranging from $2.22 billion to $2.49 billion. For the next financial year, analysts anticipate that the business will post sales of $2.31 billion per share, with estimates ranging from $2.03 billion to $2.55 billion. Zacks Investment Research’s sales averages 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 released its quarterly earnings data on Thursday, July 27th. The mining company reported $0.26 EPS for the quarter, beating 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 firm had revenue of $569.30 million for the quarter, compared to analysts’ expectations of $485.93 million. During the same period in the prior year, the firm posted $0.07 earnings per share. The firm’s quarterly revenue was up 14.7% on a year-over-year basis.

CLF has been the topic of a number of analyst reports. ValuEngine lowered shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. FBR & Co set a $10.00 target price on shares of Cliffs Natural Resources and gave the stock a “buy” rating in a research report on Saturday, June 17th. BidaskClub upgraded shares of Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Zacks Investment Research lowered shares of Cliffs Natural Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 28th. Finally, Cowen and Company restated a “market perform” rating and set a $7.00 target price on shares of Cliffs Natural Resources in a research report on Wednesday, June 28th. Five analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Cliffs Natural Resources has an average rating of “Hold” and an average price target of $8.31.

In other Cliffs Natural Resources news, Chairman Lourenco Goncalves bought 100,000 shares of Cliffs Natural Resources stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average price of $7.19 per share, for a total transaction of $719,000.00. Following the acquisition, the chairman now owns 3,486,970 shares of the company’s stock, valued at approximately $25,071,314.30. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.46% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the stock. Cetera Investment Advisers acquired a new position in shares of Cliffs Natural Resources during the 2nd quarter valued at $1,664,000. Advisory Services Network LLC lifted its holdings in shares of Cliffs Natural Resources by 743.6% during the 2nd quarter. Advisory Services Network LLC now owns 26,887 shares of the mining company’s stock valued at $186,000 after acquiring an additional 23,700 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Cliffs Natural Resources by 34.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 224,740 shares of the mining company’s stock valued at $1,555,000 after acquiring an additional 57,094 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Cliffs Natural Resources by 8.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 26,167 shares of the mining company’s stock valued at $181,000 after acquiring an additional 2,016 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Cliffs Natural Resources by 27.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 231,240 shares of the mining company’s stock valued at $1,600,000 after acquiring an additional 49,167 shares in the last quarter. Institutional investors and hedge funds own 58.28% of the company’s stock.

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Cliffs Natural Resources (NYSE CLF) opened at 6.86 on Friday. The firm has a market capitalization of $2.03 billion, a PE ratio of 31.47 and a beta of 1.70. Cliffs Natural Resources has a 12-month low of $4.91 and a 12-month high of $12.37. The company has a 50-day moving average price of $7.65 and a 200-day moving average price of $7.30.

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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Earnings History and Estimates for Cliffs Natural Resources (NYSE:CLF)

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