FY2018 EPS Estimates for Cleveland-Cliffs Inc. (CLF) Reduced by Jefferies Group

Cleveland-Cliffs Inc. (NYSE:CLF) – Equities research analysts at Jefferies Group dropped their FY2018 earnings per share (EPS) estimates for Cleveland-Cliffs in a research note issued on Wednesday, April 18th. Jefferies Group analyst S. Rosenfeld now expects that the mining company will earn $1.13 per share for the year, down from their previous estimate of $1.56. Jefferies Group currently has a “Buy” rating and a $9.50 target price on the stock. Jefferies Group also issued estimates for Cleveland-Cliffs’ FY2019 earnings at $1.05 EPS.

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Other analysts also recently issued reports about the stock. Vertical Group downgraded shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Wednesday, March 14th. Cowen reiterated a “market perform” rating and issued a $9.00 price objective (up from $7.00) on shares of Cleveland-Cliffs in a report on Friday, January 26th. ValuEngine downgraded shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research downgraded shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Finally, B. Riley reiterated a “buy” rating and issued a $12.00 price objective (up from $11.00) on shares of Cleveland-Cliffs in a report on Friday, March 2nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Cleveland-Cliffs currently has an average rating of “Hold” and a consensus target price of $9.61.



NYSE CLF opened at $7.72 on Friday. The company has a debt-to-equity ratio of -5.19, a quick ratio of 2.80 and a current ratio of 3.42. Cleveland-Cliffs has a 12-month low of $5.56 and a 12-month high of $9.15. The company has a market capitalization of $2,138.31, a PE ratio of 15.44 and a beta of 1.62.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings data on Friday, April 20th. The mining company reported ($0.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.13. Cleveland-Cliffs had a net margin of 16.09% and a negative return on equity of 35.81%. The company had revenue of $239.00 million for the quarter, compared to the consensus estimate of $177.93 million. During the same period last year, the company earned $0.16 earnings per share. The firm’s revenue was down 48.2% compared to the same quarter last year.

In related news, Director Susan Miranda Green sold 11,305 shares of the business’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $7.62, for a total transaction of $86,144.10. Following the transaction, the director now directly owns 60,367 shares in the company, valued at $459,996.54. The sale was disclosed in a filing with the SEC, which is available through this link. 0.89% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of CLF. GSA Capital Partners LLP acquired a new position in Cleveland-Cliffs during the third quarter worth $1,195,000. NEXT Financial Group Inc increased its holdings in Cleveland-Cliffs by 87.8% during the fourth quarter. NEXT Financial Group Inc now owns 13,905 shares of the mining company’s stock worth $100,000 after buying an additional 6,500 shares during the last quarter. Creative Planning increased its holdings in Cleveland-Cliffs by 38.8% during the fourth quarter. Creative Planning now owns 1,219,824 shares of the mining company’s stock worth $8,795,000 after buying an additional 341,254 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Cleveland-Cliffs by 8.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,692,922 shares of the mining company’s stock worth $12,206,000 after buying an additional 128,419 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in Cleveland-Cliffs by 36,864.0% during the fourth quarter. Acadian Asset Management LLC now owns 338,960 shares of the mining company’s stock worth $2,444,000 after purchasing an additional 338,043 shares during the period. Institutional investors and hedge funds own 60.68% of the company’s stock.

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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; and Koolyanobbing iron ore mining complex located in Western Australia. It sells its products to integrated steel companies and steel producers in the United States and the Asia Pacific.

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

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