FY2018 Earnings Estimate for Cliffs Natural Resources Inc. Issued By Jefferies Group (CLF)
Cliffs Natural Resources Inc. (NYSE:CLF) – Research analysts at Jefferies Group upped their FY2018 EPS estimates for shares of Cliffs Natural Resources in a report released on Tuesday. Jefferies Group analyst S. Rosenfeld now expects that the mining company will post earnings per share of $1.19 for the year, up from their prior forecast of $1.05. Jefferies Group currently has a “Buy” rating on the stock.
Cliffs Natural Resources (NYSE:CLF) last issued its quarterly earnings data on Friday, October 20th. The mining company reported $0.36 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. Cliffs Natural Resources had a net margin of 2.44% and a negative return on equity of 13.83%. The company had revenue of $698.00 million for the quarter, compared to the consensus estimate of $669.25 million. During the same period last year, the firm posted ($0.11) EPS. Cliffs Natural Resources’s revenue for the quarter was up 26.2% on a year-over-year basis. TRADEMARK VIOLATION WARNING: This report was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this report can be read at https://www.thecerbatgem.com/2017/10/20/fy2018-earnings-estimate-for-cliffs-natural-resources-inc-issued-by-jefferies-group-clf.html.
CLF has been the subject of several other research reports. ValuEngine lowered shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Axiom Securities restated a “sell” rating on shares of Cliffs Natural Resources in a research report on Tuesday, July 25th. FBR & Co restated a “buy” rating on shares of Cliffs Natural Resources in a research report on Friday. BidaskClub upgraded shares of Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, KeyCorp restated a “hold” rating on shares of Cliffs Natural Resources in a research report on Tuesday, September 19th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $9.29.
Shares of Cliffs Natural Resources (NYSE CLF) traded down 5.65% on Wednesday, reaching $7.02. 28,533,330 shares of the company’s stock traded hands. The company has a 50 day moving average of $7.40 and a 200-day moving average of $7.06. The stock has a market capitalization of $2.08 billion, a PE ratio of 32.20 and a beta of 1.65. Cliffs Natural Resources has a 52 week low of $4.91 and a 52 week high of $12.37.
Hedge funds have recently bought and sold shares of the stock. Nuveen Asset Management LLC lifted its holdings in 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 period. Invictus RG acquired a new stake in Cliffs Natural Resources in the first quarter worth about $121,000. Comerica Bank lifted its holdings in 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 period. Point72 Asia Hong Kong Ltd lifted its holdings in Cliffs Natural Resources by 2,509.9% in the first quarter. Point72 Asia Hong Kong Ltd now owns 16,103 shares of the mining company’s stock worth $132,000 after purchasing an additional 15,486 shares during the period. Finally, ARP Americas LLC lifted its holdings in 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 period. 58.28% of the stock is owned by institutional investors and hedge funds.
In related news, Chairman Lourenco Goncalves acquired 100,000 shares of Cliffs Natural Resources stock in a transaction that occurred on Friday, September 15th. The stock was acquired at an average price of $7.11 per share, with a total value of $711,000.00. Following the completion of the acquisition, the chairman now directly owns 3,586,970 shares of the company’s stock, valued at approximately $25,503,356.70. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.
Cliffs Natural Resources Company Profile
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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