Q4 EPS Forecast for Cleveland-Cliffs Reduced by Analyst

Cleveland-Cliffs Inc. (NYSE:CLF) – Stock analysts at B. Riley cut their Q4 2024 earnings per share (EPS) estimates for shares of Cleveland-Cliffs in a report released on Tuesday, November 12th. B. Riley analyst L. Pipes now expects that the mining company will post earnings per share of ($0.49) 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.

Cleveland-Cliffs (NYSE:CLF) last posted 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). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter in the previous year, the firm posted $0.54 EPS. The firm’s revenue for the quarter was down 18.5% compared to the same quarter last year.

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

Cleveland-Cliffs Stock Down 3.9 %

NYSE:CLF opened at $11.45 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. The company’s fifty day moving average price is $12.61 and its 200-day moving average price is $14.34. Cleveland-Cliffs has a 1-year low of $10.21 and a 1-year high of $22.97. The firm has a market capitalization of $5.66 billion, a P/E ratio of -11.80 and a beta of 1.97.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Altshuler Shaham Ltd purchased a new stake in Cleveland-Cliffs in the 2nd quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its position in shares of Cleveland-Cliffs by 247.8% during the first quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company’s stock valued at $43,000 after acquiring an additional 1,343 shares during the last quarter. Strengthening Families & Communities LLC raised its stake in shares of Cleveland-Cliffs by 299.8% in the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock valued at $25,000 after acquiring an additional 1,490 shares during the period. LRI Investments LLC acquired a new position in shares of Cleveland-Cliffs in the 1st quarter worth approximately $45,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Cleveland-Cliffs during the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 67.68% of the company’s stock.

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.