Cliffs Natural Resources Inc. Forecasted to Earn FY2018 Earnings of $1.19 Per Share (CLF)

Cliffs Natural Resources Inc. (NYSE:CLF) – Equities research analysts at Jefferies Group increased their FY2018 EPS estimates for shares of Cliffs Natural Resources in a report issued on Tuesday. Jefferies Group analyst S. Rosenfeld now forecasts that the mining company will post earnings of $1.19 per share for the year, up from their prior forecast of $1.05. Jefferies Group has a “Buy” rating on the stock.

Cliffs Natural Resources (NYSE:CLF) last released its earnings results on Thursday, July 27th. The mining company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. Cliffs Natural Resources had a negative return on equity of 13.83% and a net margin of 2.44%. The company had revenue of $569.30 million for the quarter, compared to the consensus estimate of $485.93 million. During the same quarter last year, the business posted $0.07 EPS. Cliffs Natural Resources’s quarterly revenue was up 14.7% compared to the same quarter last year. TRADEMARK VIOLATION NOTICE: “Cliffs Natural Resources Inc. Forecasted to Earn FY2018 Earnings of $1.19 Per Share (CLF)” was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this article on another publication, it was illegally copied and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://www.dispatchtribunal.com/2017/10/28/cliffs-natural-resources-inc-forecasted-to-earn-fy2018-earnings-of-1-19-per-share-clf.html.

A number of other research firms also recently weighed in on CLF. BidaskClub raised Cliffs Natural Resources from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Axiom Securities reaffirmed a “sell” rating on shares of Cliffs Natural Resources in a report on Monday, July 31st. TheStreet raised Cliffs Natural Resources from a “d+” rating to a “c” rating in a report on Monday, July 31st. ValuEngine raised Cliffs Natural Resources from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Cowen and Company reaffirmed a “hold” rating on shares of Cliffs Natural Resources in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $9.29.

Cliffs Natural Resources (CLF) traded down 0.068% on Wednesday, reaching $7.335. The company’s stock had a trading volume of 10,462,778 shares. Cliffs Natural Resources has a 52 week low of $4.91 and a 52 week high of $12.37. The stock’s 50 day moving average is $7.43 and its 200-day moving average is $7.06. The firm has a market capitalization of $2.17 billion, a PE ratio of 33.647 and a beta of 1.65.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers acquired a new position in shares of Cliffs Natural Resources in the 2nd quarter worth approximately $1,664,000. Advisory Services Network LLC boosted its holdings in shares of Cliffs Natural Resources by 743.6% in the 2nd quarter. Advisory Services Network LLC now owns 26,887 shares of the mining company’s stock worth $186,000 after acquiring an additional 23,700 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Cliffs Natural Resources by 34.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 224,740 shares of the mining company’s stock worth $1,555,000 after acquiring an additional 57,094 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Cliffs Natural Resources by 8.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 26,167 shares of the mining company’s stock worth $181,000 after acquiring an additional 2,016 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Cliffs Natural Resources by 27.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 231,240 shares of the mining company’s stock worth $1,600,000 after acquiring an additional 49,167 shares in the last quarter. 58.28% of the stock is currently owned by institutional investors and hedge funds.

In other Cliffs Natural Resources news, Chairman Lourenco Goncalves bought 100,000 shares of Cliffs Natural Resources stock in a transaction dated Friday, September 15th. The shares were acquired at an average cost of $7.11 per share, with a total value of $711,000.00. Following the acquisition, the chairman now directly owns 3,586,970 shares of the company’s stock, valued at $25,503,356.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is owned by insiders.

Cliffs Natural Resources Company Profile

Cleveland-Cliffs Inc, formerly Cliffs Natural Resources Inc, is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. The Company’s segments include U.S. Iron Ore and Asia Pacific Iron Ore.

Earnings History and Estimates for Cliffs Natural Resources (NYSE:CLF)

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