Of 12 brokerages covering Cleveland-Cliffs stock, five have a Buy or Strong Buy rating and the others rate it at Hold. At a recent price of around $16.90 a share, the implied gain based on a median price target of $22.50 is 33.7%. At the high price target of $27.00, the upside potential is nearly 60%.
Analysts forecast first-quarter revenue of $5.21 billion, which would be up 3.4% sequentially but down 12.6% year over year. Analysts anticipate an adjusted loss per share of $0.14, down from a per-share loss of 0.43 in the prior quarter and way below EPS of $1.57 in the year-ago quarter. For the full 2023 fiscal year, analysts expect to see EPS of $1.75, down 33.6%, on sales of $21.35 billion, down 7.1%.
The stock trades at 9.6 times expected 2023 EPS, 7.1 times estimated 2024 earnings of $2.39 and 7.9 times estimated 2025 earnings of $2.14 per share. The stock’s 52-week trading range is $11.82 to $32.72, and the company does not pay an annual dividend. Total shareholder return over the past year was negative 46.23%.
Coca-Cola
The share price of Dow component and Warren Buffett favorite Coca-Cola Co. (NYSE: KO) has declined by about 2.1% over the past 12 months. For the year to date, the stock is up a bare 0.1%, worse than the consumer staples sector’s increase of about 1.7% for the same period. Coke raised its dividend in the fourth quarter of 2022 for the 61st consecutive year, putting it among the top 10 for consecutive raises among the Dividend Aristocrats. The soft drinks maker reports quarterly results early Monday morning.
Analysts are bullish on the stock, with 20 of 27 brokerages having a Buy or Strong Buy rating. The others have Hold ratings. At a share price of around $63.70, the upside potential based on a median price target of $69.00 is 8.3%. At the high price target of $77.00, the upside potential is 20.9%.
First-quarter revenue is forecast at $10.79 billion, up 5.9% sequentially and by 2.8% year over year. Adjusted EPS are pegged at $0.64, up 43.3% sequentially and flat year over year. For the full 2023 fiscal year, consensus estimates call for EPS of $2.60, up 4.9%, on revenue of $44.9 billion, up 4.3%.
Coca-Cola stock trades at 24.5 times expected 2023 EPS, 22.7 times estimated 2024 earnings of $2.80 and 21.1 times estimated 2025 earnings of $3.01 per share. The stock’s 52-week range is $54.02 to $67.20. Coca-Cola pays an annual dividend of $1.84 (yield of 2.89%). Total shareholder return for the past year was 0.76%.
First Republic Bank
First Republic Bank (NYSE: FRC) stock began its plunge on March 6 and did not slow until it had dropped by nearly 90%. An 11-bank consortium, including JPMorgan and BofA, put together a $30 billion loan package that saved the bank. First Republic has suspended its dividend, and its credit rating has tumbled into junk territory. Shares jumped more than 12% on Wednesday, following a surprisingly good March-quarter report from Western Alliance. The fact that First Republic is still in business and reporting results at all on Monday is probably the biggest surprise of all.
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