Cleveland-Cliffs Inc. (NYSE: CLF): A Look At Its Value – Marketing Sentinel
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Cleveland-Cliffs Inc. (NYSE: CLF): A Look At Its Value

During the last session, Cleveland-Cliffs Inc. (NYSE:CLF)’s traded shares were 88.09 million, with the beta value of the company hitting 2.30. At the end of the trading day, the stock’s price was $23.22, reflecting an intraday gain of 14.55% or $2.95. The 52-week high for the CLF share is $22.90, that puts it up 1.38 from that peak though still a striking 78.81% gain since the share price plummeted to a 52-week low of $4.92. The company’s market capitalization is $11.67B, and the average intraday trading volume over the past 10 days was 14.53 million shares, and the average trade volume was 21.38 million shares over the past three months.

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Cleveland-Cliffs Inc. (CLF) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.40. CLF has a Sell rating from 0 analyst(s) out of 7 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $1.43.

Cleveland-Cliffs Inc. (NYSE:CLF) trade information

Cleveland-Cliffs Inc. (CLF) registered a 14.55% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 14.55% in intraday trading to $23.22 this Wednesday, 06/09/21, hitting a weekly high. The stock’s 5-day price performance is 15.41%, and it has moved by 12.12% in 30 days. Based on these gigs, the overall price performance for the year is 239.97%. The short interest in Cleveland-Cliffs Inc. (NYSE:CLF) is 41.89 million shares and it means that shorts have 2.09 day(s) to cover.

The consensus price target of analysts on Wall Street is $24.83, which implies an increase of 6.48% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $20.00 and $33.00 respectively. As a result, CLF is trading at a discount of -42.12% off the target high and 13.87% off the low.

Cleveland-Cliffs Inc. (CLF) estimates and forecasts

Statistics show that Cleveland-Cliffs Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Cleveland-Cliffs Inc. (CLF) shares have gone up 84.43% during the last six months, with a year-to-date growth rate more than the industry average at 2,517.65% against 26.90. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 610.70% this quarter and then jump 5,533.30% in the quarter after that. In the rating firms’ projections, revenue will increase 254.80% compared to the previous financial year.

Revenue for the current quarter is expected to be $4.99 billion as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $5.17 billion by the end of Sep 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $1.08 billion and $1.65 billion respectively. In this case, analysts expect current quarter sales to grow by 362.80% and then jump by 214.30% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -19.90%. While earnings are projected to return -131.30% in 2021, the next five years will return 27.43% per annum.

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CLF Dividends

Cleveland-Cliffs Inc. is due to release its next quarterly earnings in July. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Cleveland-Cliffs Inc. (NYSE:CLF)’s Major holders

Cleveland-Cliffs Inc. insiders own 8.88% of total outstanding shares while institutional holders control 59.72%, with the float percentage being 65.54%. Blackrock Inc. is the largest shareholder of the company, while 476 institutions own stock in it. As of Dec 30, 2020, the company held over 60.86 million shares (or 12.19% of all shares), a total value of $886.08 million in shares.

The next largest institutional holding, with 40.75 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 8.16% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $593.39 million.

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Also, the Mutual Funds coming in first place with the largest holdings of Cleveland-Cliffs Inc. (CLF) shares are iShares Core S&P Midcap ETF and Fidelity Low-Priced Stock Fund. Data provided on Mar 30, 2021 indicates that iShares Core S&P Midcap ETF owns about 12.41 million shares. This amounts to just over 2.48 percent of the company’s overall shares, with a $249.55 million market value. The same data shows that the other fund manager holds slightly less at 11.88 million, or about 2.38% of the stock, which is worth about $182.24 million.

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