During the recent session, Cleveland-Cliffs Inc. (NYSE:CLF)’s traded shares were 4.27 million, with the beta value of the company hitting 2.19. At the last check today, the stock’s price was $15.87, reflecting an intraday loss of -2.46% or -$0.4. The 52-week high for the CLF share is $34.04, that puts it down -114.49 from that peak though still a striking 0.38% gain since the share price plummeted to a 52-week low of $15.81. The company’s market capitalization is $8.45B, and the average intraday trading volume over the past 10 days was 20.12 million shares, and the average trade volume was 19.07 million shares over the past three months.
Cleveland-Cliffs Inc. (CLF) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.20. CLF has a Sell rating from 0 analyst(s) out of 11 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 6 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 $1.37.
Cleveland-Cliffs Inc. (NYSE:CLF) trade information
Cleveland-Cliffs Inc. (CLF) registered a -2.46% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -2.46% in intraday trading to $15.87 this Wednesday, 06/22/22, hitting a weekly high. The stock’s 5-day price performance is -7.77%, and it has moved by -25.33% in 30 days. Based on these gigs, the overall price performance for the year is -22.04%. The short interest in Cleveland-Cliffs Inc. (NYSE:CLF) is 30.43 million shares and it means that shorts have 1.72 day(s) to cover.
The consensus price target of analysts on Wall Street is $30.75, which implies an increase of 48.39% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $20.00 and $47.00 respectively. As a result, CLF is trading at a discount of -196.16% off the target high and -26.02% off the low.
Cleveland-Cliffs Inc. (CLF) estimates and forecasts
Statistics show that Cleveland-Cliffs Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Cleveland-Cliffs Inc. (CLF) shares have gone down -15.39% during the last six months, with a year-to-date growth rate less than the industry average at -6.30% against 19.00. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 3.00% this quarter and then drop -36.90% in the quarter after that. In the rating firms’ projections, revenue will increase 16.70% compared to the previous financial year.
Revenue for the current quarter is expected to be $6.13 billion as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $6.15 billion by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $5.01 billion and $5.64 billion respectively. In this case, analysts expect current quarter sales to grow by 22.20% and then jump by 9.10% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 61.50%. While earnings are projected to return 15.90% in 2022, the next five years will return 27.43% per annum.
Cleveland-Cliffs Inc. is due to release its next quarterly earnings between July 20 and July 25. 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 1.33% of total outstanding shares while institutional holders control 61.33%, with the float percentage being 62.16%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 802 institutions own stock in it. As of Mar 30, 2022, the company held over 44.51 million shares (or 8.48% of all shares), a total value of $1.43 billion in shares.
The next largest institutional holding, with 39.31 million shares, is of Blackrock Inc.’s that is approximately 7.49% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $1.27 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Cleveland-Cliffs Inc. (CLF) shares are Vanguard Total Stock Market Index Fund and iShares Core S&P Midcap ETF. Data provided on Mar 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 13.63 million shares. This amounts to just over 2.60 percent of the company’s overall shares, with a $438.97 million market value. The same data shows that the other fund manager holds slightly less at 13.64 million, or about 2.60% of the stock, which is worth about $347.6 million.