Cliffs Natural Resources Stock Rating Lowered by Macquarie (CLF)
Cliffs Natural Resources (NYSE:CLF) was downgraded by equities researchers at Macquarie from a “neutral” rating to an “underperform” rating in a research report issued on Friday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on CLF. Analysts at Citigroup Inc. reiterated a “hold” rating on shares of Cliffs Natural Resources in a research note on Monday, April 28th. They now have a $19.00 price target on the stock. Separately, analysts at Nomura reiterated a “buy” rating on shares of Cliffs Natural Resources in a research note on Monday, April 28th. They now have a $23.00 price target on the stock, down previously from $26.00. Finally, analysts at Cowen and Company reiterated a “market perform” rating on shares of Cliffs Natural Resources in a research note on Wednesday, April 23rd. They now have a $16.00 price target on the stock, down previously from $23.00. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $20.88.
Shares of Cliffs Natural Resources (NYSE:CLF) opened at 17.44 on Friday. Cliffs Natural Resources has a one year low of $15.41 and a one year high of $28.98. The stock’s 50-day moving average is $18.79 and its 200-day moving average is $21.86. The company has a market cap of $2.671 billion and a price-to-earnings ratio of 14.77. Cliffs Natural Resources also was the target of unusually large options trading activity on Tuesday. Stock investors purchased 17,162 put options on the company. This is an increase of 104% compared to the average daily volume of 8,416 put options.
Cliffs Natural Resources (NYSE:CLF) last posted its quarterly earnings results on Thursday, April 24th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by $0.43. The company had revenue of $940.00 million for the quarter, compared to the consensus estimate of $982.96 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was down 17.6% on a year-over-year basis. Analysts expect that Cliffs Natural Resources will post $0.20 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, June 3rd. Investors of record on Friday, May 23rd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Wednesday, May 21st.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.