Posted by admin on Jul 21st, 2022
ArcelorMittal (NYSE:MT – Get Rating) will release its earnings data before the market opens on Thursday, July 28th. Analysts expect ArcelorMittal to post earnings of $4.15 per share for the quarter.
ArcelorMittal (NYSE:MT – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The basic materials company reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.25 by $1.02. ArcelorMittal had a net margin of 20.43% and a return on equity of 32.88%. The business had revenue of $21.84 billion during the quarter, compared to the consensus estimate of $21.11 billion. On average, analysts expect ArcelorMittal to post $12 EPS for the current fiscal year and $5 EPS for the next fiscal year.
NYSE:MT opened at $23.26 on Thursday. The company has a market capitalization of $21.81 billion, a P/E ratio of 1.47 and a beta of 2.00. ArcelorMittal has a twelve month low of $20.86 and a twelve month high of $37.87. The company has a current ratio of 1.55, a quick ratio of 0.71 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $26.74 and a two-hundred day moving average price of $29.91.
Several equities research analysts recently issued reports on MT shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of ArcelorMittal from $53.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, July 7th. StockNews.com raised shares of ArcelorMittal from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 17th. Morgan Stanley boosted their target price on shares of ArcelorMittal from €46.00 ($46.46) to €46.10 ($46.57) and gave the stock an “overweight” rating in a research report on Thursday, June 23rd. Finally, JPMorgan Chase & Co. lowered shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research note on Wednesday, June 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $44.68.
Hedge funds have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its position in ArcelorMittal by 1,300.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 5,349,935 shares of the basic materials company’s stock worth $171,251,000 after purchasing an additional 4,967,981 shares during the period. BlackRock Inc. boosted its position in shares of ArcelorMittal by 96.3% in the first quarter. BlackRock Inc. now owns 3,706,360 shares of the basic materials company’s stock valued at $118,642,000 after acquiring an additional 1,818,361 shares during the period. Renaissance Technologies LLC bought a new stake in shares of ArcelorMittal in the first quarter valued at approximately $54,502,000. Clearbridge Investments LLC raised its stake in shares of ArcelorMittal by 21.8% in the first quarter. Clearbridge Investments LLC now owns 3,126,342 shares of the basic materials company’s stock valued at $100,074,000 after purchasing an additional 558,849 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of ArcelorMittal by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 856,592 shares of the basic materials company’s stock valued at $27,420,000 after purchasing an additional 71,185 shares in the last quarter. Institutional investors and hedge funds 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.
Receive News & Ratings for ArcelorMittal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcelorMittal and related companies with MarketBeat.com's FREE daily email newsletter.
KeyCorp Analysts Reduce Earnings Estimates for Avangrid, Inc. (NYSE:AGR)
Brokers Issue Forecasts for State Street Co.’s Q3 2022 Earnings (NYSE:STT)