FBR & Co Weighs in on Cliffs Natural Resources Inc.’s Q3 2016 Earnings (CLF)

Cliffs Natural Resources Inc. (NYSE:CLF) – Stock analysts at FBR & Co cut their Q3 2016 earnings per share estimates for Cliffs Natural Resources in a report released on Thursday. FBR & Co analyst L. Pipes now forecasts that the firm will earn $0.13 per share for the quarter, down from their previous estimate of $0.16. FBR & Co currently has a “Hold” rating and a $6.00 target price on the stock. FBR & Co also issued estimates for Cliffs Natural Resources’ FY2017 earnings at $0.24 EPS and FY2018 earnings at $0.10 EPS.

Cliffs Natural Resources (NYSE:CLF) last announced its earnings results on Thursday, July 28th. The mining company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.00 by $0.07. The company had revenue of $496 million for the quarter, compared to the consensus estimate of $482.37 million. During the same quarter in the previous year, the firm earned ($0.28) earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year.

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

Several other research firms have also commented on CLF. Cowen and Company upped their price target on shares of Cliffs Natural Resources from $6.00 to $9.00 and gave the company a “market perform” rating in a research report on Wednesday, August 3rd. TheStreet raised shares of Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. JPMorgan Chase & Co. reduced their price target on shares of Cliffs Natural Resources from $10.50 to $10.00 and set an “overweight” rating for the company in a research report on Friday, July 29th. Zacks Investment Research raised shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a research report on Monday, August 1st. Finally, Clarkson Capital raised shares of Cliffs Natural Resources from a “sell” rating to a “neutral” rating in a research report on Monday, July 18th. Seven research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $4.78.

Shares of Cliffs Natural Resources (NYSE:CLF) opened at 5.66 on Monday. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 28.16 and a beta of 1.75. The firm’s 50-day moving average is $5.77 and its 200 day moving average is $5.34. Cliffs Natural Resources has a 12 month low of $1.20 and a 12 month high of $8.45.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Cliffs Natural Resources by 15.1% in the first quarter. BlackRock Inc. now owns 35,494 shares of the mining company’s stock worth $107,000 after buying an additional 4,666 shares during the period. Stifel Financial Corp raised its stake in shares of Cliffs Natural Resources by 20.8% in the second quarter. Stifel Financial Corp now owns 19,532 shares of the mining company’s stock worth $111,000 after buying an additional 3,360 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Cliffs Natural Resources by 19.0% in the second quarter. Teacher Retirement System of Texas now owns 19,954 shares of the mining company’s stock worth $113,000 after buying an additional 3,189 shares during the period. LMR Partners LLP bought a new stake in shares of Cliffs Natural Resources during the second quarter worth about $114,000. Finally, Amalgamated Bank raised its stake in shares of Cliffs Natural Resources by 16.4% in the second quarter. Amalgamated Bank now owns 19,188 shares of the mining company’s stock worth $127,000 after buying an additional 2,710 shares during the period. 50.67% of the stock is owned by institutional investors and hedge funds.

Cliffs Natural Resources Company Profile

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. The Company is a producer of iron ore pellets, primarily selling production from U.S.

5 Day Chart for NYSE:CLF

Receive News & Ratings for Cliffs Natural Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cliffs Natural Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

President Obama Take Steps to Block Chip Maker Acquisition by Chinese Company
President Obama Take Steps to Block Chip Maker Acquisition by Chinese Company
GoPro Planning to Cut 200 Jobs
GoPro Planning to Cut 200 Jobs
Early Data from Cyber Monday Shows Sales Increasing Over 9%
Early Data from Cyber Monday Shows Sales Increasing Over 9%
Retailers Anticipating Strong Support for Small Business Saturday
Retailers Anticipating Strong Support for Small Business Saturday
Eli Lilly Alzheimer’s Drug Does Not Pass the Test
Eli Lilly Alzheimer’s Drug Does Not Pass the Test
Disney to Build Larger Hong Kong Kingdom
Disney to Build Larger Hong Kong Kingdom


 
© 2006-2016 Ticker Report. Google+.