In the latest trading session, 1.6 million Cleveland-Cliffs Inc (NYSE:CLF) shares changed hands as the company’s beta touched 1.94. With the company’s most recent per share price at $10.55 changing hands around $0.03 or 0.31% at last look, the market valuation stands at $5.21B. CLF’s current price is a discount, trading about -117.73% off its 52-week high of $22.97. The share price had its 52-week low at $8.99, which suggests the last value was 14.79% up since then. When we look at Cleveland-Cliffs Inc’s average trading volume, we note the 10-day average is 11.63 million shares, with the 3-month average coming to 15.11 million.
Analysts gave the Cleveland-Cliffs Inc (CLF) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2.36. If we narrow down to specifics, the data shows that 3 out of 15 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended CLF as a Hold, 9 felt it is a Buy and 0 rated the stock as Underweight. Cleveland-Cliffs Inc’s EPS for the current quarter is expected to be -0.67.
Cleveland-Cliffs Inc (NYSE:CLF) trade information
Instantly CLF is in green as seen in intraday trades today. With action 2.96%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 12.27%, with the 5-day performance at 2.96% in the green. However, in the 30-day time frame, Cleveland-Cliffs Inc (NYSE:CLF) is 11.09% up. Looking at the short shares, we see there were 45.94 million shares sold at short interest cover period of 2.77 days.
The consensus price target for the stock as assigned by Wall Street analysts is 13.75, meaning bulls need an upside of 23.27% from its recent market value. According to analyst projections, CLF’s forecast low is 11 with 16.5 as the target high. To hit the forecast high, the stock’s price needs a -56.4% plunge from its current level, while the stock would need to soar -4.27% for it to hit the projected low.
Cleveland-Cliffs Inc (CLF) estimates and forecasts
Data shows that the Cleveland-Cliffs Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -20.77% over the past 6 months, a -164.49% in annual growth rate that is considerably lower than the industry average of 9.30%. Year-over-year growth is forecast to reach -12.88% down from the last financial year.
Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of 4.3B. 4 analysts are of the opinion that Cleveland-Cliffs Inc’s revenue for the current quarter will be 4.82B. The company’s revenue for the corresponding quarters a year ago was 5.11B and 5.2B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -15.83%. The estimates for the next quarter sales put growth at -7.20%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -26.78%. The 2025 estimates are for Cleveland-Cliffs Inc earnings to decrease by -149.32%, but the outlook for the next 5-year period is at -7.92% per year.
CLF Dividends
Cleveland-Cliffs Inc is expected to release its next quarterly earnings report in March. During the past 5 years, the average dividend yield was 4.7 per year.
Cleveland-Cliffs Inc (NYSE:CLF)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.61% of Cleveland-Cliffs Inc shares while 68.00% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 69.11%. There are 68.00% institutions holding the Cleveland-Cliffs Inc stock share, with BLACKROCK INC. the top institutional holder. As of 2024-06-30, the company held 10.4506% of the shares, roughly 51.42 million CLF shares worth $791.31 million.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 9.5312% or 46.89 million shares worth $721.69 million as of 2024-06-30.
Among Mutual Funds, the top two as of Oct 31, 2024 were Pacer U.S. Cash Cows 100 ETF and iShares Core S&P Midcap ETF. With 25.93 shares estimated at $275.97 million under it, the former controlled 5.25% of total outstanding shares. On the other hand, iShares Core S&P Midcap ETF held about 3.14% of the shares, roughly 15.51 shares worth around $165.07 million.
