Cleveland-Cliffs Inc (NYSE:CLF) traded at $18.16 at last check on Monday, April 29, made an upward move of 1.57% on its previous day’s price.
Looking at the stock we see that its previous close was $17.88. The company has a trailing 12-month PE ratio of 24.19. In terms of its 52-week price range, CLF has a high of $22.97 and a low of $13.61. The company’s stock has lost about -20.14% over that past 30 days.
Cleveland-Cliffs Inc has a market cap of $9.05 billion. Estimates by analysts give the company expected earnings per share (EPS) of $0.31, with the EPS growth for the year raised at $1.25 for 2024 and $1.92 for next year. These figures represent 16.80% and 53.60% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $5.39 billion, with a low of $5.17 billion and a high of $5.59 billion. The median projection represents growth adding up to -9.90% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2024 is expected to hit $21.44 billion, or -2.50% down from figures reported last year.
On the other hand, looking at the outlook for the CLF stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of Hold.
Looking further, we note the current price level is -13.92% off its SMA20 and -12.75% from its 50-day simple moving average. The RSI (14) is pointing at 27.41 while the volatility over the past week is 4.41% and jumps to 3.07% over the past one month. The beta value is 2.07, while the average true range (ATR) is currently pointing at 0.69.
Coming back to Cleveland-Cliffs Inc (NYSE:CLF), we note that the average 3-month trading volume was 9.08 million. Current shares outstanding are 504.89 million.
The insiders hold 2.07% of the company’s shares while institutions hold 67.89%. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -11.07% down in year-to-date price movement.
