Cliffs Natural Resources Given Consensus Recommendation of “Hold” by Analysts (NYSE:CLF)
Cliffs Natural Resources (NYSE:CLF) has received an average rating of “Hold” from the twenty ratings firms that are presently covering the company, AnalystRatings.NET reports. Four investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $16.93.
A number of analysts have recently weighed in on CLF shares. Analysts at Bernstein upgraded shares of Cliffs Natural Resources from an “underperform” rating to a “market perform” rating in a research note on Thursday, July 31st. They now have a $16.00 price target on the stock, up previously from $13.00. Separately, analysts at Sanford C. Bernstein upgraded shares of Cliffs Natural Resources from an “underperform” rating to a “market perform” rating in a research note on Thursday, July 31st. They now have a $16.00 price target on the stock, up previously from $13.00. Finally, analysts at Clarkson Capital downgraded shares of Cliffs Natural Resources from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 30th. They now have a $13.00 price target on the stock.
Cliffs Natural Resources (NYSE:CLF) opened at 16.77 on Wednesday. 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 $16.17 and its 200-day moving average is $17.71. The company has a market cap of $2.569 billion and a P/E ratio of 52.10.
Cliffs Natural Resources (NYSE:CLF) last issued its quarterly 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 $-0.31 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Wednesday, August 13th.
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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