Cliffs Natural Resources Inc. (CLF) Forecasted to Post FY2018 Earnings of $0.76 Per Share
Cliffs Natural Resources Inc. (NYSE:CLF) – Analysts at FBR & Co decreased their FY2018 earnings per share (EPS) estimates for shares of Cliffs Natural Resources in a report issued on Monday. FBR & Co analyst L. Pipes now anticipates that the mining company will earn $0.76 per share for the year, down from their previous estimate of $0.90. FBR & Co currently has a “Buy” rating and a $10.00 target price on the stock. FBR & Co also issued estimates for Cliffs Natural Resources’ FY2019 earnings at $0.53 EPS.
Other analysts have also issued reports about the stock. Jefferies Group LLC started coverage on shares of Cliffs Natural Resources in a research note on Friday, July 7th. They set a “buy” rating and a $9.00 price objective for the company. BidaskClub raised shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. ValuEngine raised shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. TheStreet raised shares of Cliffs Natural Resources from a “d+” rating to a “c” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research raised shares of Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $8.79.
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Cliffs Natural Resources (CLF) traded up 2.64% during trading on Tuesday, hitting $7.00. 7,586,338 shares of the stock were exchanged. The firm has a market cap of $2.08 billion, a PE ratio of 32.11 and a beta of 1.65. Cliffs Natural Resources has a 12-month low of $4.91 and a 12-month high of $12.37. The stock’s 50-day moving average price is $7.31 and its 200-day moving average price is $7.02.
Cliffs Natural Resources (NYSE:CLF) last posted its quarterly earnings data on Friday, October 20th. The mining company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. The business had revenue of $698.00 million during the quarter, compared to analyst estimates of $669.25 million. Cliffs Natural Resources had a net margin of 5.48% and a negative return on equity of 29.06%. The company’s revenue was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.11) earnings per share.
A number of large investors have recently added to or reduced their stakes in CLF. Great West Life Assurance Co. Can increased its holdings in Cliffs Natural Resources by 58.4% in the first quarter. Great West Life Assurance Co. Can now owns 28,957 shares of the mining company’s stock worth $237,000 after buying an additional 10,677 shares during the last quarter. Karp Capital Management Corp acquired a new position in Cliffs Natural Resources in the first quarter worth approximately $172,000. Sei Investments Co. increased its holdings in Cliffs Natural Resources by 28.8% in the first quarter. Sei Investments Co. now owns 17,819 shares of the mining company’s stock worth $146,000 after buying an additional 3,980 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in Cliffs Natural Resources in the first quarter worth approximately $285,000. Finally, Prudential Financial Inc. increased its holdings in Cliffs Natural Resources by 19.1% in the first quarter. Prudential Financial Inc. now owns 28,132 shares of the mining company’s stock worth $231,000 after buying an additional 4,510 shares during the last quarter. Hedge funds and other institutional investors own 58.27% of the company’s stock.
In other news, Chairman Lourenco Goncalves acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were purchased at an average price of $7.11 per share, for a total transaction of $711,000.00. Following the completion of the acquisition, the chairman now owns 3,586,970 shares of the company’s stock, valued at approximately $25,503,356.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is owned by corporate insiders.
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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