FY2026 EPS Forecast for Cleveland-Cliffs Reduced by Analyst

Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) - Equities researchers at B. Riley reduced their FY2026 earnings per share (EPS) estimates for Cleveland-Cliffs in a research note issued on Tuesday, November 12th. B. Riley analyst L. Pipes now anticipates that the mining company will post earnings of $2.02 per share for the year, down from their prior estimate of $2.30. The consensus estimate for Cleveland-Cliffs' current full-year earnings is ($0.37) per share.

A number of other equities research analysts have also weighed in on the company. Seaport Res Ptn upgraded Cleveland-Cliffs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 27th. Morgan Stanley dropped their target price on Cleveland-Cliffs from $15.00 to $13.50 and set an "equal weight" rating on the stock in a research report on Wednesday, September 18th. Citigroup dropped their target price on Cleveland-Cliffs from $18.00 to $12.50 and set a "neutral" rating on the stock in a research report on Tuesday, September 10th. Finally, StockNews.com cut Cleveland-Cliffs from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $17.56.

Cleveland-Cliffs Price Performance

Shares of CLF stock remained flat at $11.98 on Wednesday. The stock had a trading volume of 6,074,806 shares, compared to its average volume of 10,238,668. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. The business has a fifty day moving average of $12.61 and a 200-day moving average of $14.38. Cleveland-Cliffs has a 52 week low of $10.21 and a 52 week high of $22.97.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.02). The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.72 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The company's revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 EPS.

Hedge Funds Weigh In On Cleveland-Cliffs

Several hedge funds have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new position in Cleveland-Cliffs in the 2nd quarter worth about $26,000. EverSource Wealth Advisors LLC grew its stake in Cleveland-Cliffs by 247.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company's stock worth $43,000 after acquiring an additional 1,343 shares in the last quarter. Strengthening Families & Communities LLC boosted its stake in shares of Cleveland-Cliffs by 299.8% during the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company's stock valued at $25,000 after purchasing an additional 1,490 shares in the last quarter. LRI Investments LLC bought a new position in shares of Cleveland-Cliffs during the first quarter valued at approximately $45,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Cleveland-Cliffs during the second quarter valued at approximately $31,000. 67.68% of the stock is currently owned by institutional investors.

Cleveland-Cliffs Company Profile

Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America. The company is vertically integrated from mining through iron making, steelmaking, rolling, finishing and downstream with hot and cold stamping of steel parts and components. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017.