Cliffs Natural Resources Downgraded to Underperform at Clarkson Capital (CLF)
Shares of Cliffs Natural Resources (NYSE:CLF) traded down 1.36% on Wednesday, hitting $17.38. 1,774,648 shares of the company’s stock traded hands. 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 $15.0 and its 200-day moving average is $18.03. The company has a market cap of $2.662 billion and a price-to-earnings ratio of 54.38.
Cliffs Natural Resources (NYSE:CLF) last released its earnings data on Wednesday, July 23rd. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.08. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The company’s revenue for the quarter was down 26.0% on a year-over-year basis. Analysts expect that Cliffs Natural Resources will post $-0.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Wednesday, August 13th.
Several other analysts have also recently commented on the stock. Analysts at Cowen and Company cut their price target on shares of Cliffs Natural Resources from $16.00 to $15.00 in a research note on Monday. Separately, analysts at Macquarie upgraded shares of Cliffs Natural Resources from an “underperform” rating to a “neutral” rating in a research note on Monday. They now have a $17.00 price target on the stock, up previously from $10.00. Finally, analysts at Nomura reiterated a “buy” rating on shares of Cliffs Natural Resources in a research note on Friday, July 25th. They now have a $18.00 price target on the stock, down previously from $23.00. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Cliffs Natural Resources currently has a consensus rating of “Hold” and an average price target of $17.86.
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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