Posted by admin on Jun 1st, 2022

Equities research analysts forecast that ArcelorMittal S.A. (NYSE:MT – Get Rating) will report earnings per share (EPS) of $4.15 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for ArcelorMittal’s earnings. ArcelorMittal posted earnings per share of $3.46 during the same quarter last year, which suggests a positive year over year growth rate of 19.9%. The company is scheduled to announce its next earnings report on Monday, January 1st.

On average, analysts expect that ArcelorMittal will report full-year earnings of $13.21 per share for the current fiscal year, with EPS estimates ranging from $9.87 to $17.70. For the next financial year, analysts forecast that the company will report earnings of $9.30 per share, with EPS estimates ranging from $6.15 to $14.33. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover ArcelorMittal.

ArcelorMittal (NYSE:MT – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The basic materials company reported $4.27 earnings per share for the quarter, topping the consensus estimate of $3.25 by $1.02. ArcelorMittal had a net margin of 20.43% and a return on equity of 32.88%. The firm had revenue of $21.84 billion for the quarter, compared to analysts’ expectations of $21.11 billion.

Several research firms recently issued reports on MT. AlphaValue raised shares of ArcelorMittal to a “reduce” rating in a report on Tuesday, February 15th. Zacks Investment Research raised shares of ArcelorMittal from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a report on Wednesday, May 11th. Credit Suisse Group increased their target price on shares of ArcelorMittal from $42.00 to $50.00 in a report on Tuesday, February 22nd. StockNews.com raised shares of ArcelorMittal from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 17th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of ArcelorMittal from €48.00 ($51.61) to €49.00 ($52.69) in a report on Friday, May 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $42.13.

Shares of NYSE:MT traded down $0.80 during trading on Tuesday, hitting $32.35. The company’s stock had a trading volume of 4,034,102 shares, compared to its average volume of 4,915,959. The company has a 50-day moving average of $30.76 and a 200-day moving average of $31.12. The firm has a market cap of $30.34 billion, a price-to-earnings ratio of 2.05 and a beta of 1.92. ArcelorMittal has a 12 month low of $26.36 and a 12 month high of $37.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.55 and a quick ratio of 0.71.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. boosted its position in shares of ArcelorMittal by 320.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 909 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 693 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in ArcelorMittal by 82.3% in the fourth quarter. BNP Paribas Arbitrage SA now owns 1,353 shares of the basic materials company’s stock worth $43,000 after buying an additional 611 shares during the last quarter. Captrust Financial Advisors lifted its position in ArcelorMittal by 166.1% in the first quarter. Captrust Financial Advisors now owns 1,381 shares of the basic materials company’s stock worth $44,000 after buying an additional 862 shares during the last quarter. Prospera Financial Services Inc bought a new stake in ArcelorMittal in the first quarter worth $45,000. Finally, National Bank of Canada FI bought a new stake in ArcelorMittal in the fourth quarter worth $46,000. Hedge funds and other institutional investors own 41.79% of the company’s stock.

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in Europe, North and South America, Asia, and Africa. Its principal steel products include semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, which includes blooms and billets; finished long products, including bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.

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