Cliffs Natural Resources (NYSE: CLF) is expected to report Q1 earnings on April 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 wane -7.0% and EPS will drop -58.8%.

The average estimate for revenue is $1.18 billion. On the bottom line, the average EPS estimate is $0.35.

Revenue details
 Last quarter, Cliffs Natural Resources reported revenue of $1.54 billion. GAAP reported sales were 4.2% lower than the prior-year quarter's $1.60 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $0.41. GAAP EPS were -$11.36 for Q4 compared to $1.30 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 15.5%, much worse than the prior-year quarter. Operating margin was 5.2%, much worse than the prior-year quarter. Net margin was -105.4%, much worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $5.44 billion. The average EPS estimate is $1.93.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,588 members out of 1,655 rating the stock outperform, and 67 members rating it underperform. Among 284 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 269 give Cliffs Natural Resources a green thumbs-up, and 15 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 $42.44.

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