Wall Street analyst estimates for Cleveland-Cliffs Inc. (CLF): consensus price target, buy/hold/sell recommendations and forecasts for revenue and EPS for the upcoming fiscal years.
Cleveland-Cliffs Inc. stands as a prominent North American manufacturer specializing in flat-rolled steel. The company's diverse product portfolio encompasses a wide array of carbon steel forms, including hot-rolled, cold-rolled, electrogalvanized, hot-dip galvanized, hot-dip galvannealed, aluminized, enameling, and advanced high-strength steel.
Consensus price target
$14.00 (-2 % vs price $14.25)
between $11.50 and $17.48 · 5 targets published in the last quarter
Closing price, Oct 30
A twelve-month target is not a fair value: compare it with the range in the Valuation tab.
Revenue and EPS estimates
| Fiscal year | Revenue (average) | Revenue (low – high) | EPS (average) | Analysts |
|---|---|---|---|---|
| 2027E | $23.0B | $19.8B – $24.3B | $1.30 | 7 |
| 2028E | $22.6B | $22.1B – $23.7B | $0.76 | 5 |
Figures in USD · consensus as of October 29, 2026
Analyst Consensus
| Strong Buy | 0 |
| Buy | 11 |
| Hold | 22 |
| Sell | 11 |
| Strong Sell | 0 |
| Total analysts | 44 |
| Avg rating (−2 sell to +2 buy) | 0.00 |
Recent Earnings Surprises
| Date | EPS Actual | EPS Est. | vs Est. |
|---|---|---|---|
| 2027-02-08 | $0.43 | ||
| 2026-10-19 | $0.28 | $0.21 | +30.8% |
| 2026-07-23 | $-0.20 | $-0.21 | +4.0% |
| 2026-04-20 | $-0.40 | $-0.44 | +9.1% |
| 2026-02-09 | $-0.43 | $-0.62 | +30.6% |
| 2025-10-20 | $-0.45 | $-0.48 | +6.2% |
| 2025-07-21 | $-0.50 | $-0.68 | +26.5% |
| 2025-05-07 | $-0.92 | $-0.83 | -11.5% |
Valuation Ratios
| Price / Book | 1.44 |
| EV / EBITDA | 15.94 |
| Dividend Yield | 0.00% |
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.11B | $2.33B | $2.33B | $1.99B | $5.35B | $20.44B | $22.99B | $22.00B | $19.18B | $18.61B |
| Cost of Revenue | $1.72B | $1.82B | $1.52B | $1.41B | $5.10B | $15.91B | $20.47B | $20.61B | $19.11B | $19.37B |
| Gross Profit | $389.3M | $509.6M | $809.6M | $575.7M | $252.0M | $4.53B | $2.52B | $1.39B | $70.0M | -$763.0M |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $117.8M | $105.8M | $116.8M | $119.4M | $244.0M | $422.0M | $465.0M | $577.0M | $486.0M | $543.0M |
| Operating Expenses | $149.4M | $77.4M | $136.4M | $146.4M | $394.0M | $502.0M | $575.0M | $714.0M | $826.0M | $593.0M |
| Operating Income | $240.8M | $431.5M | $673.2M | $429.3M | -$142.0M | $4.01B | $1.94B | $677.0M | -$756.0M | -$1.36B |
| EBITDA | $288.0M | $477.9M | $776.0M | $498.4M | $353.0M | $5.04B | $3.11B | $1.86B | $378.0M | -$175.0M |
| Interest Expense | $193.9M | $126.8M | $118.9M | $101.0M | $238.0M | $337.0M | $276.0M | $289.0M | $370.0M | $594.0M |
| Pre-tax Income | $207.0M | $137.3M | $564.7M | $312.6M | -$193.0M | $3.80B | $1.80B | $597.0M | -$943.0M | -$2.00B |
| Income Tax | -$12.2M | -$252.4M | -$475.2M | $17.6M | -$111.0M | $773.0M | $423.0M | $148.0M | -$235.0M | -$581.0M |
| Net Income | $174.1M | $374.9M | $1.13B | $292.8M | -$122.0M | $2.99B | $1.33B | $399.0M | -$754.0M | -$1.48B |
| EPS | $0.88 | $1.30 | $3.80 | $1.06 | $-0.32 | $5.35 | $2.57 | $0.78 | $-1.57 | $-3.00 |
| EPS (Diluted) | $0.87 | $1.28 | $3.71 | $1.03 | $-0.32 | $5.35 | $2.55 | $0.78 | $-1.57 | $-3.00 |
| Shares Outstanding (Diluted) | 200.1 M | 293.0 M | 304.1 M | 284.5 M | 379.0 M | 558.0 M | 524.0 M | 511.0 M | 480.0 M | 492.2 M |
Price
| Price | $14.25 (closing price, October 30, 2026) |
| Market Cap | $8.1B |
| Exchange | NYSE |
| Country | US |
Related companies: STLD · MT · NUE · RS · GGB · TX · CMC · WS
Explore sector: Basic Materials · Steel
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