Cleveland-Cliffs Inc (NYSE:CLF) price closed lower on Tuesday, April 16, dropping -0.94% below its previous close.
A look at the daily price movement shows that the last close reads $21.24. The company’s 5Y monthly beta was ticking 2.04 while its P/E ratio in the trailing 12-month period read 27.11. Taking into account the 52-week price action we note that the stock hit a 52-week high of $22.97 and 52-week low of $13.61. The stock added 6.48% on its value in the past month.
Cleveland-Cliffs Inc, which has a market valuation of $10.48 billion, is expected to release its quarterly earnings report Apr 22, 2024 – Apr 26, 2024. Analysts tracking CLF have forecast the quarterly EPS to grow by 0.22 per share this quarter, while the same analysts predict the annual EPS to hit $1.31 for the year 2024 and up to $1.94 for 2025. In this case, analysts estimate an annual EPS growth of 22.40% for the year and 48.10% for the next year.
On average, analysts have forecast the company’s revenue for the quarter will hit $5.34 billion, with the likely lows of $5.23 billion and highs of $5.42 billion. The average estimate suggests sales growth for the quarter will likely rise by 0.90% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $21.38 billion for the company’s annual revenue in 2024. Per this projection, the revenue is forecast to grow -2.80% below that which the company brought in 2024.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with — upward and — downward reviews. On the technical perspective front, indicators give CLF a short term outlook of 50% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Buy, while an average of long term indicators are currently assigning the stock as 100% Buy.
The overview shows that CLF’s price is at present -3.71% off the SMA20 and 1.14% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 44.63, with weekly volatility standing at 3.18%. The indicator jumps to 2.65% when calculated based on the past 30 days. Cleveland-Cliffs Inc (NYSE:CLF)’s beta value is holding at 2.04, while the average true range (ATR) indicator is currently reading 0.62.
An analysis of the Cleveland-Cliffs Inc (NYSE:CLF) stock in terms of its daily trading volume indicates that the 3-month average is 8.35 million.
Current records show that the company has 504.89M in outstanding shares. The insiders’ percentage holdings are 2.07% of outstanding shares while the percentage share held by institutions stands at 68.54%. But the 3.04% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
