Q4 EPS Estimates for Cleveland-Cliffs Decreased by B. Riley

Cleveland-Cliffs Inc. (NYSE:CLF) – Equities research analysts at B. Riley reduced their Q4 2024 earnings estimates for Cleveland-Cliffs in a research note issued to investors on Tuesday, November 12th. B. Riley analyst L. Pipes now expects that the mining company will post earnings of ($0.49) per share for the quarter, down from their prior forecast of ($0.20). The consensus estimate for Cleveland-Cliffs’ current full-year earnings is ($0.37) per share. B. Riley also issued estimates for Cleveland-Cliffs’ Q1 2025 earnings at ($0.24) EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at $0.13 EPS, Q4 2025 earnings at $0.25 EPS, FY2025 earnings at $0.13 EPS, Q1 2026 earnings at $0.50 EPS, Q2 2026 earnings at $0.50 EPS and Q3 2026 earnings at $0.51 EPS.

A number of other equities analysts have also recently weighed in on the stock. Seaport Res Ptn raised shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Citigroup decreased their price objective on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. StockNews.com cut shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Finally, Morgan Stanley decreased their price target on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $17.56.

Cleveland-Cliffs Trading Down 0.5 %

Shares of CLF stock opened at $11.93 on Thursday. The business’s fifty day moving average price is $12.61 and its 200 day moving average price is $14.36. The firm has a market capitalization of $5.89 billion, a PE ratio of -12.29 and a beta of 1.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. Cleveland-Cliffs has a 1-year low of $10.21 and a 1-year high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last released its earnings results on Monday, November 4th. The mining company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.02). The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.72 billion. Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The business’s revenue for the quarter was down 18.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 EPS.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC raised its position in shares of Cleveland-Cliffs by 299.8% in the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock valued at $25,000 after buying an additional 1,490 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in Cleveland-Cliffs in the second quarter valued at $26,000. Hobbs Group Advisors LLC purchased a new stake in Cleveland-Cliffs in the 2nd quarter valued at about $31,000. Gradient Investments LLC increased its stake in shares of Cleveland-Cliffs by 138.8% during the 2nd quarter. Gradient Investments LLC now owns 2,149 shares of the mining company’s stock valued at $33,000 after acquiring an additional 1,249 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in shares of Cleveland-Cliffs during the 3rd quarter worth about $34,000. 67.68% of the stock is currently owned by hedge funds and other institutional investors.

Cleveland-Cliffs Company Profile

Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America. The company is vertically integrated from mining through iron making, steelmaking, rolling, finishing and downstream with hot and cold stamping of steel parts and components. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017.