Cliffs Natural Resources (CLF) to Release Quarterly Earnings on Thursday
Cliffs Natural Resources (NYSE:CLF) is set to issue its Q313 quarterly earnings data on Thursday, October 24th. Analysts expect the company to announce earnings of $0.61 per share and revenue of $1.44 billion for the quarter.
Cliffs Natural Resources (NYSE:CLF) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.09. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the company posted $1.81 earnings per share. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, analysts expect Cliffs Natural Resources to post $2.76 EPS for the current fiscal year and $1.28 EPS for the next fiscal year.
Shares of Cliffs Natural Resources (NYSE:CLF) opened at 24.11 on Wednesday. Cliffs Natural Resources has a one year low of $15.41 and a one year high of $46.50. The stock has a 50-day moving average of $21.86 and a 200-day moving average of $20.1. The company’s market cap is $3.692 billion. Cliffs Natural Resources also was the recipient of unusually large options trading on Monday. Stock traders purchased 24,208 call options on the company. This represents an increase of 123% compared to the average volume of 10,854 call options.
Several analysts have recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Cliffs Natural Resources from $23.00 to $25.00 in a research note to investors on Tuesday. They now have a “sector perform” rating on the stock. On a related note, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Cliffs Natural Resources in a research note to investors on Thursday, October 17th. They now have a $24.00 price target on the stock, up previously from $20.00. Finally, analysts at Cowen and Company upgraded shares of Cliffs Natural Resources from an “underperform” rating to a “market perform” rating in a research note to investors on Thursday, October 17th. They now have a $20.00 price target on the stock, up previously from $11.00. They noted that the move was a valuation call. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the stock. Cliffs Natural Resources currently has a consensus rating of “Hold” and a consensus target price of $25.50.
Cliffs Natural Resources Inc is an international mining and natural resources company. The Company is an iron ore producer and a producer of metallurgical coal.
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