Cleveland-Cliffs Inc (NYSE: CLF) has reported earnings for its second fiscal quarter (ending June 30) of $0.00 versus $0.68 for the same period a year ago — a decline of -100%. This result fell short of the consensus estimate of $0.00 by $-0.00. For the latest four quarters through June 30, E.P.S. were $0.08 versus $0.45 for the same period a year ago — a decline of -82%.
Recent Price Action
Cleveland-Cliffs Inc (NYSE: CLF) stock rose slightly by 0.3% on 7/22/24. The stock closed at $15.21. This advance was accompanied by normal trading volume. The stock has been weak relative to the market over the last nine months and has declined -5.9% during the last week.
Current PriceTarget Research Rating
CLF is expected to continue to be a Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Cleveland-Cliffs has a current Value Trend Rating of C (High Neutral). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Cleveland-Cliffs has a very high Appreciation Score of 90 but a poor Power Rating of 23, with the High Neutral Value Trend Rating the result.
Rating Review
In light of this discouraging new earnings information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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