Posted by admin on May 10th, 2022
Wall Street brokerages expect that ArcelorMittal S.A. (NYSE:MT – Get Rating) will post $3.70 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for ArcelorMittal’s earnings. ArcelorMittal posted earnings of $3.46 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 6.9%. The firm is expected to issue its next earnings results on Monday, January 1st.
On average, analysts expect that ArcelorMittal will report full year earnings of $11.93 per share for the current financial year, with EPS estimates ranging from $8.95 to $16.68. For the next financial year, analysts expect that the business will report earnings of $8.75 per share, with EPS estimates ranging from $4.97 to $13.93. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover ArcelorMittal.
ArcelorMittal (NYSE:MT – Get Rating) last issued its quarterly earnings data on Thursday, February 10th. The basic materials company reported $3.71 EPS for the quarter, beating analysts’ consensus estimates of $3.39 by $0.32. ArcelorMittal had a return on equity of 34.09% and a net margin of 20.43%. The firm had revenue of $20.81 billion for the quarter, compared to analyst estimates of $19.98 billion. During the same period in the prior year, the firm posted $0.18 EPS. The company’s revenue for the quarter was up 46.7% on a year-over-year basis.
A number of analysts have recently weighed in on MT shares. JPMorgan Chase & Co. upped their target price on ArcelorMittal from €43.00 ($45.26) to €48.00 ($50.53) in a research report on Thursday, April 28th. StockNews.com downgraded ArcelorMittal from a “strong-buy” rating to a “buy” rating in a research report on Monday. AlphaValue upgraded ArcelorMittal to a “reduce” rating in a research report on Tuesday, February 15th. The Goldman Sachs Group downgraded ArcelorMittal from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 26th. Finally, Credit Suisse Group upped their target price on ArcelorMittal from $42.00 to $50.00 in a research report on Tuesday, February 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $42.41.
Hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. increased its stake in shares of ArcelorMittal by 320.8% in the third quarter. Rockefeller Capital Management L.P. now owns 909 shares of the basic materials company’s stock valued at $26,000 after buying an additional 693 shares during the period. BNP Paribas Arbitrage SA grew its stake in ArcelorMittal by 82.3% during the fourth quarter. BNP Paribas Arbitrage SA now owns 1,353 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 611 shares during the period. Prospera Financial Services Inc acquired a new stake in ArcelorMittal during the first quarter worth approximately $45,000. National Bank of Canada FI acquired a new stake in ArcelorMittal during the fourth quarter worth approximately $46,000. Finally, Bessemer Group Inc. grew its stake in ArcelorMittal by 42.8% during the fourth quarter. Bessemer Group Inc. now owns 2,026 shares of the basic materials company’s stock worth $64,000 after purchasing an additional 607 shares during the period. 41.79% of the stock is owned by institutional investors.
NYSE MT traded up $0.19 on Tuesday, reaching $27.76. The stock had a trading volume of 5,039,752 shares, compared to its average volume of 5,042,823. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.45 and a quick ratio of 0.62. The firm has a fifty day moving average of $31.17 and a two-hundred day moving average of $31.48. ArcelorMittal has a 1-year low of $26.59 and a 1-year high of $37.87. The company has a market cap of $26.03 billion, a P/E ratio of 1.76 and a beta of 1.92.
The company also recently announced an annual dividend, which will be paid on Friday, June 10th. Shareholders of record on Monday, May 16th will be given a $0.38 dividend. The ex-dividend date is Friday, May 13th. This is an increase from ArcelorMittal’s previous annual dividend of $0.30. This represents a yield of 1.8%. ArcelorMittal’s dividend payout ratio (DPR) is currently 1.58%.
ArcelorMittal Company Profile (Get Rating)
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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