Look At Analyst Expectations For A Better Read On Cleveland-Cliffs Inc (NYSE: CLF)

Currently, there are 504.89M common shares owned by the public and among those 487.98M shares have been available to trade.

The company’s stock has a 5-day price change of 6.73% and 8.98% over the past three months. CLF shares are trading 11.12% year to date (YTD), with the 12-month market performance up to 26.41% higher. It has a 12-month low price of $13.61 and touched a high of $22.78 over the same period. CLF has an average intraday trading volume of 8.78 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.72%, 13.21%, and 30.22% respectively.

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Institutional ownership of Cleveland-Cliffs Inc (NYSE: CLF) shares accounts for 68.50% of the company’s 504.89M shares outstanding.

It has a market capitalization of $11.31B and a beta (3y monthly) value of 2.02. The stock’s trailing 12-month PE ratio is 29.24, while the earnings-per-share (ttm) stands at $0.78. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.46% over the week and 2.99% over the month.

Analysts forecast that Cleveland-Cliffs Inc (CLF) will achieve an EPS of $0.25 for the current quarter, $0.39 for the next quarter and $1.89 for 2025. The lowest estimate earnings-per-share for the quarter is $0.14 while analysts give the company a high EPS estimate of $0.41. Comparatively, EPS for the current quarter was -$0.11 a year ago. Earnings per share for the fiscal year are expected to increase by 29.84%, and 38.00% over the next financial year.

Looking at the support for the CLF, a number of firms have released research notes about the stock. Citigroup stated their Neutral rating for the stock in a research note on March 13, 2024, with the firm’s price target at $22. Exane BNP Paribas coverage for the Cleveland-Cliffs Inc (CLF) stock in a research note released on February 28, 2024 offered a Underperform rating with a price target of $16.50. Morgan Stanley was of a view on February 15, 2024 that the stock is Equal-Weight, while JP Morgan gave the stock Overweight rating on February 09, 2024, issuing a price target of $24. Argus on their part issued Hold rating on February 08, 2024.

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