Forbes Earnings Preview: Cliffs Natural Resources

Welcome To Cliff Natural Resources HUB On AGORACOM

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Dear Agoracom Family,

I want to thank all of you for your patience with us over the past 48 hours and apologize for what was admittedly a botched launch of our new site.

As you can see, we have reverted back to the previous version of the site while we address multiple forum functionality flaws that inexplicably made their way into the launch.

To this end:

1.We have identified 8 fundamental but easily fixable flaws that will be corrected in the coming week, so that you can continue to use the forums exactly as you've been accustomed to.

2.Additionally we will also be implementing a couple of design improvements to "tighten up" the look and feel of the forums.

Have a great Sunday, especially those of you like me that are celebrating Orthodox Easter ... As well as those of you who are also like me and mourning another Maple Leafs Game 7 exit ... Ugggh!

Sincerely,

George et al

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Forbes Earnings Preview: Cliffs Natural Resources

posted on Feb 08, 2013 10:39AM

2/08/2013 @ 9:45AM

By Narrative Science

Wall Street is expecting lower profit for Cliffs Natural Resources (CLF) when the company reports its fourth quarter results on Tuesday, February 12, 2013. Analysts are expecting earnings per share of 55 cents after the company booked a profit of $1.42 a share a year earlier.

The consensus estimate has increased over the past month, from 54 cents, but it’s below the estimate of 60 cents from three months ago. For the fiscal year, analysts are projecting earnings of $3.59 per share. After being $1.66 billion a year ago, analysts project revenue to drop 8% year-over-year to $1.53 billion for the quarter. For the year, revenue is projected to come in at $5.95 billion.

While being profitable for the last eight quarters, the company has seen net income slip over the past four quarters by an average of 45.8% year-over-year. The company was hit the hardest in the most recent quarter as its net income dropped by 85.6%.

Revenue has fallen in the past two quarters. In third quarter, revenue declined 27.9% to $1.54 billion from the year earlier quarter. In the second quarter, the figure fell 10%.

Most analysts think investors should stand pat on Cliffs Natural Resources, with 11 of 15 analysts rating it hold. Analysts have grown increasingly optimistic about the stock in the last three months.