FBR Capital Markets Lowers Cliffs Natural Resources Price Target to $20.00 (CLF)
Equities research analysts at FBR Capital Markets cut their price target on shares of Cliffs Natural Resources (NYSE:CLF) from $25.00 to $20.00 in a research note issued to investors on Thursday. The firm currently has a “market perform” rating on the stock. FBR Capital Markets’ target price indicates a potential upside of 27.23% from the company’s current price.
Shares of Cliffs Natural Resources (NYSE:CLF) opened at 15.72 on Thursday. Cliffs Natural Resources has a 52-week low of $13.60 and a 52-week high of $28.98. The stock’s 50-day moving average is $15.35 and its 200-day moving average is $19.22. The company has a market cap of $2.408 billion and a price-to-earnings ratio of 12.44.
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. On average, analysts predict that Cliffs Natural Resources will post $0.03 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Cliffs Natural Resources in a research note on Thursday, June 19th. They now have a $16.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Cliffs Natural Resources in a research note on Friday, June 13th. They now have a $19.00 price target on the stock, down previously from $26.00. Finally, analysts at Macquarie downgraded shares of Cliffs Natural Resources from a “neutral” rating to an “underperform” rating in a research note on Friday, May 16th. They now have a $10.00 price target on the stock, down previously from $18.00. Five investment 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. Cliffs Natural Resources has an average rating of “Hold” and an average target price of $19.18.
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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