Why Cleveland-Cliffs (CLF) Outpaced the Stock Market Today

Company Performance - Cleveland-Cliffs closed at $7.30, with a daily increase of +1.67%, outperforming the S&P 500's gain of 0.13% [1] - Over the past month, Cleveland-Cliffs shares have declined by 24.9%, significantly underperforming the Basic Materials sector's loss of 4.72% and the S&P 500's loss of 6.3% [1] Upcoming Earnings - The company's earnings report is scheduled for May 7, 2025, with an expected EPS of -$ 0.62, indicating a 444.44% decline from the same quarter last year [2] - The Zacks Consensus Estimate projects net sales of $4.6 billion, down 11.5% from the previous year [2] Full Year Projections - For the full year, the Zacks Consensus Estimates predict an EPS of -$ 0.72 and revenue of $20.16 billion, reflecting changes of +1.37% and +5.08% respectively from the prior year [3] Analyst Estimates - Recent adjustments to analyst estimates for Cleveland-Cliffs are crucial as they reflect short-term business trends [4] - Positive estimate revisions are seen as a sign of optimism regarding the company's business outlook [4] Zacks Rank System - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has a strong track record, with 1 stocks delivering an average annual return of +25% since 1988 [6] - Over the past month, the Zacks Consensus EPS estimate for Cleveland-Cliffs has decreased by 30.77%, and the company currently holds a Zacks Rank of 3 (Hold) [6] Industry Context - Cleveland-Cliffs operates within the Steel - Producers industry, which is part of the Basic Materials sector and currently holds a Zacks Industry Rank of 66, placing it in the top 27% of over 250 industries [7] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]