Gear Up for Cleveland-Cliffs (CLF) Q3 Earnings: Wall Street Estimates for Key Metrics

Wall Street analysts expect Cleveland-Cliffs (CLF) to post quarterly loss of $0.30 per share in its upcoming report, which indicates a year-over-year decline of 155.6%. Revenues are expected to be $4.76 billion, down 15% from the year-ago quarter.The consensus EPS estimate for the quarter has been revised 13.5% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.Bearing this in mind, let's now explore the average estimates of specific Cleveland-Cliffs metrics that are commonly monitored and projected by Wall Street analysts.The consensus estimate for 'Revenues- Other Businesses' stands at $158.46 million. The estimate indicates a change of -2.2% from the prior-year quarter.According to the collective judgment of analysts, 'Revenues- Steelmaking' should come in at $4.61 billion. The estimate suggests a change of -15.2% year over year.Analysts predict that the 'Revenues- Steelmaking- Coated steel' will reach $1.53 billion. The estimate indicates a change of -12.3% from the prior-year quarter.The collective assessment of analysts points to an estimated 'Revenues- Steelmaking- Slab and other steel products' of $289.66 million. The estimate points to a change of -10% from the year-ago quarter.The combined assessment of analysts suggests that 'External Sales Volumes- Steel Products' will likely reach 3,980.92 Ton. Compared to the present estimate, the company reported 4,106 Ton in the same quarter last year.Analysts' assessment points toward 'Average net selling price per net ton of steel products' reaching $1,046.27. The estimate is in contrast to the year-ago figure of $1,203.The average prediction of analysts places 'Volumes - Steelmaking - Coated steel' at 1,187.04 Ton. Compared to the present estimate, the company reported 1,239 Ton in the same quarter last year.Based on the collective assessment of analysts, 'Volumes - Steelmaking - Slab and other steel products' should arrive at 430.16 Ton. The estimate is in contrast to the year-ago figure of 425 Ton.It is projected by analysts that the 'Volumes - Steelmaking - Plate' will reach 209.28 Ton. Compared to the current estimate, the company reported 234 Ton in the same quarter of the previous year.The consensus among analysts is that 'Volumes - Steelmaking - Cold-rolled steel' will reach 609.15 Ton. The estimate compares to the year-ago value of 564 Ton.Analysts expect 'Volumes - Steelmaking - Hot-rolled steel' to come in at 1,404.28 Ton. Compared to the current estimate, the company reported 1,475 Ton in the same quarter of the previous year.Analysts forecast 'Volumes - Steelmaking - Stainless and electrical steel' to reach 156.33 Ton. Compared to the current estimate, the company reported 169 Ton in the same quarter of the previous year.View all Key Company Metrics for Cleveland-Cliffs here>>>Cleveland-Cliffs shares have witnessed a change of +5.6% in the past month, in contrast to the Zacks S&P 500 composite's +1.8% move. With a Zacks Rank #3 (Hold), CLF is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cleveland-Cliffs Inc. (CLF): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks