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ArcelorMittal S.A. (NYSE:MT - Get Rating) - KeyCorp raised their Q2 2022 earnings per share (EPS) estimates for shares of ArcelorMittal in a research report issued to clients and investors on Wednesday, May 18th. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will earn $4.15 per share for the quarter, up from their prior forecast of $3.70. KeyCorp also issued estimates for ArcelorMittal's Q3 2022 earnings at $1.59 EPS and FY2022 earnings at $9.87 EPS. ArcelorMittal (NYSE:MT - Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The basic materials company reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.25 by $1.02. The business had revenue of $21.84 billion for the quarter, compared to the consensus estimate of $21.11 billion. ArcelorMittal had a net margin of 20.43% and a return on equity of 32.88%.
MT has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft lifted their price target on ArcelorMittal from €48.00 ($51.06) to €49.00 ($52.13) in a report on Friday, May 6th. Zacks Investment Research raised ArcelorMittal from a "hold" rating to a "strong-buy" rating and set a $32.00 price objective for the company in a report on Wednesday, May 11th. JPMorgan Chase & Co. boosted their price objective on ArcelorMittal from €43.00 ($45.74) to €48.00 ($51.06) in a report on Thursday, April 28th. The Goldman Sachs Group cut ArcelorMittal from a "buy" rating to a "neutral" rating in a report on Wednesday, January 26th. Finally, Credit Suisse Group boosted their price objective on ArcelorMittal from $42.00 to $50.00 in a report on Tuesday, February 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $42.13.
MT opened at $30.57 on Monday. The company has a market capitalization of $28.67 billion, a P/E ratio of 1.93 and a beta of 1.92. The firm's fifty day moving average price is $30.79 and its two-hundred day moving average price is $31.12. ArcelorMittal has a fifty-two week low of $26.36 and a fifty-two week 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.
Several institutional investors and hedge funds have recently modified their holdings of the stock. OLD Mission Capital LLC bought a new stake in ArcelorMittal in the 3rd quarter valued at approximately $1,311,000. Morgan Stanley lifted its stake in ArcelorMittal by 29.8% in the 2nd quarter. Morgan Stanley now owns 1,618,932 shares of the basic materials company's stock valued at $50,283,000 after acquiring an additional 371,294 shares in the last quarter. BlackRock Inc. lifted its stake in ArcelorMittal by 3.3% in the 3rd quarter. BlackRock Inc. now owns 1,219,123 shares of the basic materials company's stock valued at $36,768,000 after acquiring an additional 39,393 shares in the last quarter. Creative Planning bought a new stake in ArcelorMittal in the 3rd quarter valued at approximately $233,000. Finally, American Century Companies Inc. lifted its stake in ArcelorMittal by 1.8% in the 3rd quarter. American Century Companies Inc. now owns 70,979 shares of the basic materials company's stock valued at $2,141,000 after acquiring an additional 1,250 shares in the last quarter. Institutional investors and hedge funds own 41.79% of the company's stock.
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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