Let’s Discuss The Cleveland-Cliffs Inc (NYSE: CLF) Stock Forecast.

In today’s recent session, 1.56 million shares of the Cleveland-Cliffs Inc (NYSE:CLF) have been traded, and its beta is 2.09. Most recently the company’s share price was $17.66, and it changed around $0.34 or 1.94% from the last close, which brings the market valuation of the company to $8.39B. CLF at last check was trading at a discount to its 52-week high of $22.97, offering almost -30.07% off that amount. The share price’s 52-week low was $13.61, which indicates that the recent value has risen by an impressive 22.93% since then. We note from Cleveland-Cliffs Inc’s average daily trading volume that its 3-month average coming to 8.51 million.

Cleveland-Cliffs Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.58. If we narrow it down even further, the data shows that 2 out of 9 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 5 recommended CLF as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Cleveland-Cliffs Inc is expected to report earnings per share of $0.1 for the current quarter.

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Cleveland-Cliffs Inc (NYSE:CLF) trade information

Instantly CLF has been showing a green trend so far today with a performance of 1.94% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently down -13.54% year-to-date, but still up 2.65% over the last five days. On the other hand, Cleveland-Cliffs Inc (NYSE:CLF) is -18.41% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $22.88, which translates to bulls needing to increase their stock price by 22.81% from its current value. Analyst projections state that CLF is forecast to be at a low of $19 and a high of $27.2.

Cleveland-Cliffs Inc (CLF) estimates and forecasts

Cleveland-Cliffs Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 7.39 percent over the past six months and at a 0.00% annual growth rate that is well below the industry average of 16.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -85.10% in revenue this quarter, and will report a decrease of -51.90% in the next quarter. The year-over-year growth rate is expected to be -3.70%, down from the previous year.

Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $5.33 billion in revenue for the current quarter. 4 analysts expect Cleveland-Cliffs Inc to make $5.36 billion in revenue for the quarter ending Sep 2024. The company’s sales for the same quarters a year ago were $5.98 billion and $5.61 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -11.00%. Forecasts for the next quarter put sales growth at -4.40%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -26.78%.