B. Riley Analysts Raise Earnings Estimates for Cleveland-Cliffs Inc (CLF)

Cleveland-Cliffs Inc (NYSE:CLF) – Stock analysts at B. Riley lifted their Q2 2018 earnings per share estimates for shares of Cleveland-Cliffs in a research report issued to clients and investors on Friday. B. Riley analyst L. Pipes now expects that the mining company will post earnings of $0.49 per share for the quarter, up from their previous estimate of $0.45. B. Riley has a “Buy” rating and a $11.00 price objective on the stock. B. Riley also issued estimates for Cleveland-Cliffs’ Q3 2018 earnings at $0.46 EPS, Q4 2018 earnings at $0.46 EPS, Q1 2019 earnings at ($0.11) EPS, Q2 2019 earnings at $0.33 EPS, Q3 2019 earnings at $0.32 EPS, Q4 2019 earnings at $0.33 EPS and FY2020 earnings at $0.92 EPS.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings results on Thursday, January 25th. The mining company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.11. The company had revenue of $600.90 million for the quarter, compared to analysts’ expectations of $612.50 million. Cleveland-Cliffs had a net margin of 16.09% and a negative return on equity of 35.92%. Cleveland-Cliffs’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS.

Other equities research analysts have also recently issued research reports about the stock. Cowen reaffirmed a “market perform” rating and issued a $9.00 price target (up previously from $7.00) on shares of Cleveland-Cliffs in a report on Friday. FBR & Co set a $10.00 price target on shares of Cleveland-Cliffs and gave the stock a “buy” rating in a report on Monday, October 2nd. KeyCorp reaffirmed a “hold” rating on shares of Cleveland-Cliffs in a report on Friday, November 24th. Zacks Investment Research cut shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Finally, Vertical Group began coverage on shares of Cleveland-Cliffs in a report on Friday, January 19th. They issued a “sell” rating on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $9.63.

Shares of Cleveland-Cliffs (CLF) opened at $7.63 on Monday. The company has a quick ratio of 1.18, a current ratio of 3.42 and a debt-to-equity ratio of -5.28. The company has a market cap of $2,260.00, a P/E ratio of 5.87 and a beta of 1.61. Cleveland-Cliffs has a 1-year low of $5.56 and a 1-year high of $12.37.

Hedge funds have recently modified their holdings of the business. NEXT Financial Group Inc raised its holdings in Cleveland-Cliffs by 87.8% during the 4th quarter. NEXT Financial Group Inc now owns 13,905 shares of the mining company’s stock valued at $100,000 after acquiring an additional 6,500 shares during the period. Comerica Bank raised its holdings in Cleveland-Cliffs by 49.5% during the 2nd quarter. Comerica Bank now owns 15,493 shares of the mining company’s stock valued at $116,000 after acquiring an additional 5,129 shares during the period. D.A. Davidson & CO. raised its holdings in Cleveland-Cliffs by 486.8% during the 2nd quarter. D.A. Davidson & CO. now owns 18,597 shares of the mining company’s stock valued at $128,000 after acquiring an additional 15,428 shares during the period. Moors & Cabot Inc. bought a new stake in Cleveland-Cliffs during the 2nd quarter valued at $128,000. Finally, HighTower Advisors LLC raised its holdings in Cleveland-Cliffs by 19.0% during the 2nd quarter. HighTower Advisors LLC now owns 19,092 shares of the mining company’s stock valued at $133,000 after acquiring an additional 3,046 shares during the period. 56.66% of the stock is currently owned by institutional investors and hedge funds.

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Cleveland-Cliffs 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.

Earnings History and Estimates for Cleveland-Cliffs (NYSE:CLF)

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