In its upcoming report, Cleveland-Cliffs (CLF) is predicted by Wall Street analysts to post quarterly earnings of $0.24 per share, reflecting an increase of 153.3% compared to the same period last year. Revenues are forecasted to be $5.58 billion, representing a year-over-year increase of 17.9%.
The consensus EPS estimate for the quarter has been revised 8.8% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Bearing this in mind, let's now explore the average estimates of specific Cleveland-Cliffs metrics that are commonly monitored and projected by Wall Street analysts.
The consensus among analysts is that 'Revenues- Other Businesses' will reach $180.00 million. The estimate suggests a change of +4.1% year over year.
Analysts forecast 'Revenues- Steelmaking' to reach $5.61 billion. The estimate indicates a year-over-year change of +23.1%.
According to the collective judgment of analysts, 'Revenues- Steelmaking- Coated steel' should come in at $1.62 billion. The estimate indicates a change of +12.7% from the prior-year quarter.
Analysts' assessment points toward 'Revenues- Steelmaking- Other steel products' reaching $17.44 million. The estimate points to a change of -91.5% from the year-ago quarter.
It is projected by analysts that the 'External Sales Volumes - Total steel Products' will reach 4283 thousands of tons. The estimate is in contrast to the year-ago figure of 4029 thousands of tons.
The consensus estimate for 'Average net selling price per net ton of steel products' stands at $1188.09 . The estimate is in contrast to the year-ago figure of $1032.00 .
Analysts predict that the 'Steel shipments by product - Coated steel' will reach 1342 thousands of tons. The estimate is in contrast to the year-ago figure of 1178 thousands of tons.
The average prediction of analysts places 'Steel shipments by product - Slab and other steel products' at 17 thousands of tons. Compared to the current estimate, the company reported 375 thousands of tons in the same quarter of the previous year.
Analysts expect 'Steel shipments by product - Plate' to come in at 184 thousands of tons. Compared to the current estimate, the company reported 232 thousands of tons in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Steel shipments by product - Cold-rolled steel' will likely reach 658 thousands of tons. Compared to the current estimate, the company reported 611 thousands of tons in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Steel shipments by product - Hot-rolled steel' should arrive at 1945 thousands of tons. The estimate is in contrast to the year-ago figure of 1484 thousands of tons.
The collective assessment of analysts points to an estimated 'Steel shipments by product - Stainless and electrical steel' of 160 thousands of tons. Compared to the current estimate, the company reported 149 thousands of tons in the same quarter of the previous year.
View all Key Company Metrics for Cleveland-Cliffs here>>>Shares of Cleveland-Cliffs have experienced a change of +9.1% in the past month compared to the +2.1% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), CLF is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Cleveland-Cliffs Inc. (CLF): Free Stock Analysis Report
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