Analysts expect Cliffs Natural Resources Inc. (NYSE:CLF) to announce sales of $654.98 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Cliffs Natural Resources’ earnings. The lowest sales estimate is $594.00 million and the highest is $677.70 million. Cliffs Natural Resources reported sales of $553.30 million during the same quarter last year, which indicates a positive year-over-year growth rate of 18.4%. The firm is scheduled to issue its next earnings results before the market opens on Friday, October 20th.

According to Zacks, analysts expect that Cliffs Natural Resources will report full year sales of $654.98 million for the current fiscal year, with estimates ranging from $2.22 billion to $2.49 billion. For the next financial year, analysts forecast that the business will post sales of $2.34 billion per share, with estimates ranging from $2.03 billion to $2.55 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Cliffs Natural Resources.

Cliffs Natural Resources (NYSE:CLF) last announced its quarterly earnings data on Thursday, July 27th. The mining company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. The company had revenue of $569.30 million for the quarter, compared to the consensus estimate of $485.93 million. Cliffs Natural Resources had a negative return on equity of 13.83% and a net margin of 2.44%. The firm’s revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 EPS.

A number of research firms recently weighed in on CLF. Zacks Investment Research downgraded shares of Cliffs Natural Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. FBR & Co set a $10.00 price target on shares of Cliffs Natural Resources and gave the company a “buy” rating in a research note on Monday, October 2nd. KeyCorp reissued a “hold” rating on shares of Cliffs Natural Resources in a research note on Tuesday, September 19th. Jefferies Group LLC reissued a “buy” rating on shares of Cliffs Natural Resources in a research note on Monday, September 18th. Finally, ValuEngine downgraded shares of Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $9.29.

In other Cliffs Natural Resources news, Chairman Lourenco Goncalves purchased 100,000 shares of Cliffs Natural Resources stock in a transaction that occurred on Friday, September 15th. The stock was purchased at an average price of $7.11 per share, for a total transaction of $711,000.00. Following the transaction, the chairman now directly owns 3,586,970 shares in the company, valued at $25,503,356.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.46% of the company’s stock.

A number of institutional investors have recently made changes to their positions in CLF. Nuveen Asset Management LLC increased its holdings in shares of Cliffs Natural Resources by 1.2% in the 1st quarter. Nuveen Asset Management LLC now owns 13,974 shares of the mining company’s stock valued at $115,000 after purchasing an additional 164 shares in the last quarter. Comerica Bank increased its holdings in shares of Cliffs Natural Resources by 49.5% in the 2nd quarter. Comerica Bank now owns 15,493 shares of the mining company’s stock valued at $116,000 after purchasing an additional 5,129 shares in the last quarter. Invictus RG purchased a new position in shares of Cliffs Natural Resources in the 1st quarter valued at about $121,000. ARP Americas LLC increased its holdings in shares of Cliffs Natural Resources by 72.5% in the 2nd quarter. ARP Americas LLC now owns 17,600 shares of the mining company’s stock valued at $122,000 after purchasing an additional 7,400 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in shares of Cliffs Natural Resources by 486.8% in the 2nd quarter. D.A. Davidson & CO. now owns 18,597 shares of the mining company’s stock valued at $128,000 after purchasing an additional 15,428 shares in the last quarter. Institutional investors own 58.28% of the company’s stock.

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Shares of Cliffs Natural Resources (NYSE:CLF) opened at 6.77 on Thursday. Cliffs Natural Resources has a one year low of $4.91 and a one year high of $12.37. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 31.06 and a beta of 1.65. The firm’s 50-day moving average price is $7.51 and its 200-day moving average price is $7.09.

Cliffs Natural Resources Company Profile

Cleveland-Cliffs Inc, formerly Cliffs Natural Resources Inc, is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. The Company’s segments include U.S. Iron Ore and Asia Pacific Iron Ore.

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Earnings History and Estimates for Cliffs Natural Resources (NYSE:CLF)

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