Cliffs Natural Resources (NYSE: CLF ) is expected to report Q3 earnings on Oct. 24. Here's what Wall Street wants to see:
The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Cliffs Natural Resources's revenues will shrink -18.1% and EPS will decrease -73.4%.
The average estimate for revenue is $1.74 billion. On the bottom line, the average EPS estimate is $1.14.
Last quarter, Cliffs Natural Resources recorded revenue of $1.63 billion. GAAP reported sales were 10.0% lower than the prior-year quarter's $1.81 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Last quarter, EPS came in at $1.81. GAAP EPS of $1.81 for Q2 were 38% lower than the prior-year quarter's $2.92 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the preceding quarter, gross margin was 27.6%, 1,560 basis points worse than the prior-year quarter. Operating margin was 22.0%, 1,590 basis points worse than the prior-year quarter. Net margin was 15.9%, 680 basis points worse than the prior-year quarter.
The full year's average estimate for revenue is $6.33 billion. The average EPS estimate is $4.89.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,508 members out of 1,567 rating the stock outperform, and 59 members rating it underperform. Among 303 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 292 give Cliffs Natural Resources a green thumbs-up, and 11 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cliffs Natural Resources is hold, with an average price target of $79.26.
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