FY2025 EPS Forecast for Cleveland-Cliffs Lowered by Analyst

Cleveland-Cliffs Inc. (NYSE:CLF) – Equities research analysts at B. Riley cut their FY2025 earnings estimates for shares of Cleveland-Cliffs in a note issued to investors on Tuesday, December 17th. B. Riley analyst L. Pipes now expects that the mining company will earn $0.12 per share for the year, down from their previous forecast of $0.13. The consensus estimate for Cleveland-Cliffs’ current full-year earnings is ($0.45) per share.

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

Several other brokerages have also issued reports on CLF. Citigroup lowered their target price on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday. Seaport Res Ptn raised shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. The Goldman Sachs Group assumed coverage on shares of Cleveland-Cliffs in a research note on Monday, December 2nd. They issued a “buy” rating and a $16.00 target price on the stock. StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley dropped their price objective 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 research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Cleveland-Cliffs has an average rating of “Hold” and a consensus price target of $17.22.

Cleveland-Cliffs Price Performance

Cleveland-Cliffs stock opened at $9.33 on Thursday. The company’s 50 day moving average price is $12.30 and its two-hundred day moving average price is $13.35. The stock has a market cap of $4.61 billion, a P/E ratio of -9.62 and a beta of 1.92. Cleveland-Cliffs has a 52 week low of $9.13 and a 52 week high of $22.97. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53.

Institutional Investors Weigh In On Cleveland-Cliffs

Hedge funds and other institutional investors have recently bought and sold shares of the business. Altus Wealth Group LLC increased its position in shares of Cleveland-Cliffs by 7.2% during the third quarter. Altus Wealth Group LLC now owns 11,900 shares of the mining company’s stock valued at $152,000 after buying an additional 800 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in Cleveland-Cliffs by 7.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 13,066 shares of the mining company’s stock worth $201,000 after acquiring an additional 949 shares during the period. Clear Creek Financial Management LLC lifted its stake in Cleveland-Cliffs by 6.9% in the 2nd quarter. Clear Creek Financial Management LLC now owns 15,450 shares of the mining company’s stock worth $238,000 after purchasing an additional 1,000 shares in the last quarter. National Bank of Canada FI boosted its holdings in Cleveland-Cliffs by 16.2% in the 2nd quarter. National Bank of Canada FI now owns 8,428 shares of the mining company’s stock valued at $129,000 after purchasing an additional 1,173 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Cleveland-Cliffs by 3.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 40,408 shares of the mining company’s stock valued at $515,000 after purchasing an additional 1,237 shares in the last quarter. Institutional investors own 67.68% of the company’s stock.

About Cleveland-Cliffs

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.