Equities analysts expect Cleveland-Cliffs Inc (NYSE:CLF) to report earnings per share (EPS) of $0.56 for the current quarter, Zacks reports. Five analysts have made estimates for Cleveland-Cliffs’ earnings. The lowest EPS estimate is $0.51 and the highest is $0.63. Cleveland-Cliffs reported earnings of $0.64 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 12.5%. The firm is scheduled to issue its next quarterly earnings report on Friday, October 18th.

On average, analysts expect that Cleveland-Cliffs will report full-year earnings of $1.76 per share for the current fiscal year, with EPS estimates ranging from $1.70 to $1.87. For the next fiscal year, analysts forecast that the company will report earnings of $1.53 per share, with EPS estimates ranging from $1.20 to $1.89. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Cleveland-Cliffs.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings results on Friday, July 19th. The mining company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.11. The business had revenue of $697.40 million during the quarter, compared to the consensus estimate of $624.23 million. Cleveland-Cliffs had a net margin of 50.72% and a return on equity of 238.16%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 EPS.

A number of analysts have recently issued reports on CLF shares. B. Riley raised their price target on shares of Cleveland-Cliffs from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. ValuEngine downgraded shares of Cleveland-Cliffs from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Jefferies Financial Group set a $14.00 price target on shares of Cleveland-Cliffs and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Finally, Credit Suisse Group upgraded shares of Cleveland-Cliffs from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $13.00 to $14.00 in a report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Cleveland-Cliffs presently has an average rating of “Hold” and a consensus target price of $12.44.

Shares of NYSE CLF traded down $0.34 during midday trading on Wednesday, reaching $8.24. 5,868,539 shares of the stock were exchanged, compared to its average volume of 10,201,854. The firm has a 50 day moving average of $10.26. The stock has a market cap of $2.24 billion, a PE ratio of 3.87 and a beta of 1.98. The company has a quick ratio of 1.81, a current ratio of 2.56 and a debt-to-equity ratio of 7.37. Cleveland-Cliffs has a twelve month low of $7.40 and a twelve month high of $13.10.

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, July 5th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.91%. This is an increase from Cleveland-Cliffs’s previous quarterly dividend of $0.05. Cleveland-Cliffs’s dividend payout ratio (DPR) is currently 11.27%.

In related news, CFO Keith Koci acquired 30,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $8.39 per share, with a total value of $251,700.00. Following the transaction, the chief financial officer now owns 74,349 shares of the company’s stock, valued at approximately $623,788.11. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert P. Fisher, Jr. acquired 3,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were bought at an average cost of $8.92 per share, with a total value of $26,760.00. Following the transaction, the director now directly owns 113,398 shares in the company, valued at approximately $1,011,510.16. The disclosure for this purchase can be found here. Insiders have purchased a total of 54,000 shares of company stock valued at $472,510 in the last ninety days. 1.32% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the stock. JHL Capital Group LLC increased its stake in Cleveland-Cliffs by 35.7% in the second quarter. JHL Capital Group LLC now owns 950,000 shares of the mining company’s stock valued at $10,137,000 after purchasing an additional 250,000 shares during the period. Scion Asset Management LLC increased its stake in Cleveland-Cliffs by 46.7% in the second quarter. Scion Asset Management LLC now owns 1,100,000 shares of the mining company’s stock valued at $11,737,000 after purchasing an additional 350,000 shares during the period. United Capital Financial Advisers LLC acquired a new position in Cleveland-Cliffs in the second quarter valued at $1,019,000. Captrust Financial Advisors acquired a new position in Cleveland-Cliffs in the second quarter valued at $28,000. Finally, D.A. Davidson & CO. increased its stake in Cleveland-Cliffs by 33.7% in the second quarter. D.A. Davidson & CO. now owns 54,872 shares of the mining company’s stock valued at $585,000 after purchasing an additional 13,828 shares during the period. 84.31% of the stock is owned by hedge funds and other institutional investors.

About Cleveland-Cliffs

Cleveland-Cliffs Inc operates as an iron ore mining company in the United States. The company operates four iron ore mines in Michigan and Minnesota. It sells its products to integrated steel companies and steel producers in the United States and the Asia Pacific. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017.

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Earnings History and Estimates for Cleveland-Cliffs (NYSE:CLF)

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