Cliffs Natural Resources Inc. (CLF) Set to Announce Earnings on Friday
Cliffs Natural Resources Inc. (NYSE:CLF) is scheduled to be posting its quarterly earnings results before the market opens on Friday, October 20th. Analysts expect Cliffs Natural Resources to post earnings of $0.36 per share for the quarter.
Cliffs Natural Resources (NYSE:CLF) last posted its earnings results on Thursday, July 27th. The mining company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.08. Cliffs Natural Resources had a negative return on equity of 13.83% and a net margin of 2.44%. The firm had revenue of $569.30 million for the quarter, compared to analyst estimates of $485.93 million. During the same quarter in the prior year, the company earned $0.07 EPS. Cliffs Natural Resources’s revenue was up 14.7% on a year-over-year basis. On average, analysts expect Cliffs Natural Resources to post $0.88 EPS for the current fiscal year and $0.88 EPS for the next fiscal year.
Cliffs Natural Resources Inc. (NYSE:CLF) opened at 6.84 on Friday. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 31.38 and a beta of 1.65. The company’s 50-day moving average price is $7.49 and its 200 day moving average price is $7.09. Cliffs Natural Resources Inc. has a 1-year low of $4.91 and a 1-year high of $12.37.
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A number of research analysts recently weighed in on the company. Zacks Investment Research cut Cliffs Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. FBR & Co set a $10.00 target price on Cliffs Natural Resources and gave the company a “buy” rating in a report on Monday, October 2nd. KeyCorp reiterated a “hold” rating on shares of Cliffs Natural Resources in a report on Tuesday, September 19th. Jefferies Group LLC reiterated a “buy” rating on shares of Cliffs Natural Resources in a report on Monday, September 18th. Finally, ValuEngine cut Cliffs Natural Resources from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $9.29.
In related news, Chairman Lourenco Goncalves acquired 100,000 shares of Cliffs Natural Resources stock in a transaction on Friday, September 15th. The shares were bought at an average price of $7.11 per share, for a total transaction of $711,000.00. Following the completion of the purchase, the chairman now directly owns 3,586,970 shares in the company, valued at approximately $25,503,356.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.
About Cliffs Natural Resources
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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