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Think You Need A Good Stock? Look At This Cleveland-Cliffs Inc. (NYSE: CLF) Analysis

Cleveland-Cliffs Inc. (NYSE:CLF) traded at $20.06 at last check on Tuesday, January 24, made a downward move of -2.67% on its previous day’s price.

Looking at the stock we see that its previous close was $20.61 and the beta (5Y monthly) reads 2.17 with the day’s price range being $20.37 – $21.025. The company has a trailing 12-month PE ratio of 4.47. In terms of its 52-week price range, CLF has a high of $34.04 and a low of $11.82. The company’s stock has gained about 43.22% over that past 30 days.

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Cleveland-Cliffs Inc. has a market cap of $10.32 billion and is expected to release its quarterly earnings report on Feb 14, 2023. Estimates by analysts give the company expected earnings per share (EPS) of -$0.25, with the EPS growth for the year raised at $2.87 for 2022 and $1.7 for next year. These figures represent -46.50% and -40.80% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $5.23 billion, with a low of $4.99 billion and a high of $5.53 billion. The median projection represents growth adding up to -2.10% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $23.13 billion, or 13.10% up from figures reported last year.

There have been 1 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the CLF stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of 50% Buy.

Based on estimates by 13 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 5 have rated the Cleveland-Cliffs Inc. (CLF) stock as a Hold, while 6 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 2 suggest the stock as a Sell. The stock has an overall rating of Overweight and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 7.88% off its SMA20 and 20.81% from its 50-day simple moving average. The RSI (14) is pointing at 62.28 while the volatility over the past week is 3.68% and jumps to 4.48% over the past one month. The beta value is 2.19, while the average true range (ATR) is currently pointing at 0.85. The average price target for the stock over the next 12 months is $19.56, with the estimates having a low of $13.00 and a high of $27.00. These price ends are 35.19% and -34.6% off the today’s price level respectively, although investors could be excited at the prospect of a 10.27% if the CLF share price touches on the median price of $18.00.

Let’s briefly compare Cleveland-Cliffs Inc. (CLF) stock to its peers. We find that today’s price change of -2.67% and 9.57% over the past 12 months for CLF competes that of Nucor Corporation (NUE), which has seen its stock price fall -1.42% in the latest trading session and is 53.33% over the last one year. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at -0.40% and -0.23%, respectively, in early deals.

Coming back to Cleveland-Cliffs Inc. (NYSE:CLF), we note that the average 3-month trading volume was 13.47 million, while that of the preceding 10-day period stands at 12.29 million. Current shares outstanding are 516.00 million.

The insiders hold 0.20% of the company’s shares while institutions hold 67.60%. The data shows that short shares as of Dec 29, 2022, stood at 42.43 million at a short ratio of 3.38. This represents a 8.23% short interest in shares outstanding on Dec 29, 2022. Shares short fall in December from the previous month at 42.99 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 27.93% up in year-to-date price movement.

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