In today’s recent session, 1.21 million shares of the Cleveland-Cliffs Inc (NYSE:CLF) have been traded, and its beta is 1.98. Most recently the company’s share price was $11.79, and it changed around -$0.02 or -0.17% from the last close, which brings the market valuation of the company to $5.52B. CLF at last check was trading at a discount to its 52-week high of $22.97, offering almost -94.83% off that amount. The share price’s 52-week low was $10.21, which indicates that the recent value has risen by an impressive 13.4% since then. We note from Cleveland-Cliffs Inc’s average daily trading volume that its 10-day average is 15.17 million shares, with the 3-month average coming to 11.38 million.
Cleveland-Cliffs Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.86. 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 -0.18 for the current quarter.
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Cleveland-Cliffs Inc (NYSE:CLF) trade information
Instantly CLF has been showing red trend so far today with a performance of -0.17% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 12.14 on recent trading dayincreased the stock’s daily price by 2.88%. The company’s shares are currently down -42.26% year-to-date, but still up 5.93% over the last five days. On the other hand, Cleveland-Cliffs Inc (NYSE:CLF) is -7.17% down in the 30-day period. We can see from the shorts that 39.31 million shares have been sold at a short interest cover period of 3.62 day(s).
The consensus price target as assigned by Wall Street analysts is $20.6, which translates to bulls needing to increase their stock price by 42.77% from its current value. Analyst projections state that CLF is forecast to be at a low of $10.13 and a high of $25.
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 fallen -43.75 percent over the past six months and at a -99.07% annual growth rate that is well below the industry average of 19.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -134.60% in revenue this quarter, and will report a decrease of -40.00% in the next quarter. The year-over-year growth rate is expected to be -8.50%, down from the previous year.
Consensus estimates provided by 7 financial analysts predict the company will bring in an average of 4.85B in revenue for the current quarter. 7 analysts expect Cleveland-Cliffs Inc to make 4.93B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 5.61B and 5.11B respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -13.40%. Forecasts for the next quarter put sales growth at -3.60%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -26.78%.
CLF Dividends
Cleveland-Cliffs Inc’s next quarterly earnings report is expected to be released on 2024-Oct-21. The average dividend yield for the past five years averaged 4.7 per year.
Cleveland-Cliffs Inc (NYSE:CLF)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.69% of Cleveland-Cliffs Inc shares, and 74.24% of them are in the hands of institutional investors. The stock currently has a share float of 75.52%. Cleveland-Cliffs Inc stock is held by 830.0 institutions, with BLACKROCK INC. being the largest institutional investor. By 2024-06-30, it held 10.4506% of the shares, which is about 51.42 million shares worth $791.31 million.
VANGUARD GROUP INC, with 9.5312% or 46.89 million shares worth $721.69 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and iShares Core S&P Midcap ETF were the top two Mutual Funds as of Jun 30, 2024. The former held 15.06 shares worth $177.27 million, making up 3.22% of all outstanding shares. On the other hand, iShares Core S&P Midcap ETF held roughly 14.91 shares worth around $175.49 million, which represents about 3.19% of the total shares outstanding.
