What is Zacks Research's Forecast for CLF Q2 Earnings?

Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) - Zacks Research lifted their Q2 2026 earnings estimates for Cleveland-Cliffs in a research note issued on Thursday, March 20th. Zacks Research analyst A. Barman now expects that the mining company will earn $0.16 per share for the quarter, up from their previous forecast of $0.14. The consensus estimate for Cleveland-Cliffs' current full-year earnings is ($0.79) per share. Zacks Research also issued estimates for Cleveland-Cliffs' Q4 2026 earnings at $0.04 EPS and FY2026 earnings at $0.33 EPS.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The mining company reported ($0.68) earnings per share for the quarter, missing analysts' consensus estimates of ($0.65) by ($0.03). The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.46 billion. Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%.

Several other analysts have also weighed in on CLF. The Goldman Sachs Group reduced their price objective on Cleveland-Cliffs from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Citigroup decreased their price target on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating on the stock in a report on Thursday, December 19th. B. Riley reissued a "buy" rating on shares of Cleveland-Cliffs in a research note on Tuesday, February 4th. Morgan Stanley decreased their target price on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Finally, Glj Research cut their price objective on Cleveland-Cliffs from $14.54 to $12.90 and set a "buy" rating on the stock in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $16.43.

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Cleveland-Cliffs Price Performance

Shares of CLF stock traded up $0.22 during trading hours on Monday, reaching $9.36. The company's stock had a trading volume of 23,497,443 shares, compared to its average volume of 12,906,056. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. Cleveland-Cliffs has a fifty-two week low of $8.50 and a fifty-two week high of $22.97. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of -9.64 and a beta of 1.94. The firm's 50 day simple moving average is $10.32 and its 200-day simple moving average is $11.24.

Insider Activity

In other news, Director John T. Baldwin bought 4,000 shares of Cleveland-Cliffs stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of $8.70 per share, for a total transaction of $34,800.00. Following the purchase, the director now directly owns 133,227 shares in the company, valued at approximately $1,159,074.90. This represents a 3.10 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jane M. Cronin bought 10,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $10.56 per share, with a total value of $105,600.00. Following the completion of the transaction, the director now directly owns 24,522 shares in the company, valued at $258,952.32. This represents a 68.86 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 23,500 shares of company stock valued at $243,095. 1.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cleveland-Cliffs

A number of hedge funds have recently added to or reduced their stakes in the company. Pinpoint Asset Management Ltd bought a new position in shares of Cleveland-Cliffs in the 4th quarter worth $25,000. Truvestments Capital LLC bought a new position in shares of Cleveland-Cliffs in the third quarter valued at approximately $34,000. Estabrook Capital Management lifted its stake in Cleveland-Cliffs by 207.7% during the 4th quarter. Estabrook Capital Management now owns 4,000 shares of the mining company's stock valued at $38,000 after acquiring an additional 2,700 shares in the last quarter. Byrne Asset Management LLC boosted its holdings in Cleveland-Cliffs by 130.0% during the 4th quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company's stock worth $43,000 after acquiring an additional 2,600 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Cleveland-Cliffs in the 4th quarter worth $44,000. Institutional investors and hedge funds own 67.68% of the company's stock.

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.