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ArcelorMittal S.A. (NYSE:MT - Get Rating) - Jefferies Financial Group decreased their FY2022 earnings per share estimates for shares of ArcelorMittal in a report released on Thursday, July 7th. Jefferies Financial Group analyst A. Spence now forecasts that the basic materials company will earn $12.59 per share for the year, down from their previous estimate of $13.38. The consensus estimate for ArcelorMittal's current full-year earnings is $11.91 per share. Jefferies Financial Group also issued estimates for ArcelorMittal's FY2023 earnings at $7.66 EPS. ArcelorMittal (NYSE:MT - Get Rating) last posted 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 return on equity of 32.88% and a net margin of 20.43%. The business had revenue of $21.84 billion during the quarter, compared to analysts' expectations of $21.11 billion.
Other equities analysts have also recently issued research reports about the company. Morgan Stanley upped their price target on ArcelorMittal from €46.00 ($47.92) to €46.10 ($48.02) and gave the company an "overweight" rating in a report on Thursday, June 23rd. Deutsche Bank Aktiengesellschaft cut their price target on ArcelorMittal from $53.00 to $39.00 and set a "buy" rating for the company in a report on Thursday. JPMorgan Chase & Co. cut ArcelorMittal from an "overweight" rating to a "neutral" rating in a report on Wednesday, June 22nd. Finally, StockNews.com raised ArcelorMittal from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $42.71.
NYSE MT opened at $22.13 on Monday. ArcelorMittal has a twelve month low of $20.86 and a twelve month high of $37.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.71 and a current ratio of 1.55. The stock has a market capitalization of $20.75 billion, a PE ratio of 1.40 and a beta of 2.00. The stock has a 50-day simple moving average of $27.70 and a 200 day simple moving average of $30.44.
Large investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA increased its stake in ArcelorMittal by 430.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,178 shares of the basic materials company's stock worth $230,000 after acquiring an additional 5,825 shares during the period. Golden State Equity Partners acquired a new stake in shares of ArcelorMittal during the 1st quarter valued at $314,000. Guggenheim Capital LLC raised its position in ArcelorMittal by 41.8% during the 1st quarter. Guggenheim Capital LLC now owns 26,856 shares of the basic materials company's stock worth $860,000 after purchasing an additional 7,923 shares during the last quarter. Highline Capital Management L.P. bought a new position in ArcelorMittal during the 1st quarter worth $3,349,000. Finally, Goldman Sachs Group Inc. raised its position in ArcelorMittal by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 856,592 shares of the basic materials company's stock worth $27,420,000 after purchasing an additional 71,185 shares during the last quarter. Hedge funds and other institutional investors 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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