Cleveland-Cliffs (NYSE:CLF) is scheduled to announce Q4 earnings results on Friday, February 11th, before market open.
The consensus EPS Estimate is $2.03 (vs $0.24 in Q420) and the consensus Revenue Estimate is $5.65B (vs $2.26B).
Over the last 1 year, CLF has beaten EPS estimates 25% of the time and has beaten revenue estimates 25% of the time.
Over the last 3 months, EPS estimates have seen 0 upward revisions and 6 downward. Revenue estimates have seen 0 upward revisions and 3 downward.
Shares jumped +12.71% on October 22, after Cleveland-Cliffs reported better-than-expected Q3 numbers. Lourenco Goncalves, Cliffs’ Chairman, President, and CEO said: “In a short period of less than two years, we went from $2 billion annual revenues in 2019 to expected revenues of $21 billion in 2021.”
Cliffs was among several steel names hit in January after Stelco warned of “significant oversupply and significant shrinkage of demand” affecting the industry.
A look at Cliffs’ YTD price return performance against peers:
Jim Lebenthal, chief equity strategist at Cerity Partners, defended Cliffs on CNBC, saying the stock will “beat the S&P 500 mightily over the next year, but with that sort of return volatility comes.”
Cliffs was also rated at Outperform by Wolfe Research’s coverage debut, despite a cautious view on steel prices and looming regional oversupply. The company will benefit from easing tariff tensions between the US and Europe, Japan and the UK, as well as improving conditions and manufacturing activity in China.
A recent bullish analysis on SA suggests that Cliffs could be a major out-performer in 2022, while Livy Investment Research said that the steelmaker’s decarbonizing efforts make it more competitive within the industry by protecting it from pricing risks and attracting new demand arising from needs for carbon-friendly steel.
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