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ArcelorMittal S.A. (NYSE:MT - Get Rating) - Equities researchers at KeyCorp raised their FY2022 EPS estimates for shares of ArcelorMittal in a research note issued on Wednesday, August 17th. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings per share of $12.00 for the year, up from their prior estimate of $11.65. The consensus estimate for ArcelorMittal's current full-year earnings is $12.41 per share.
ArcelorMittal (NYSE:MT - Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The basic materials company reported $4.24 earnings per share for the quarter, beating analysts' consensus estimates of $4.19 by $0.05. ArcelorMittal had a net margin of 19.66% and a return on equity of 31.17%. The firm had revenue of $22.14 billion during the quarter, compared to the consensus estimate of $21.75 billion. During the same period in the prior year, the firm earned $3.46 EPS. The business's revenue was up 14.5% on a year-over-year basis.
A number of other equities analysts also recently commented on MT. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of ArcelorMittal from €38.00 ($38.78) to €37.00 ($37.76) in a report on Monday, August 1st. UBS Group cut their price target on shares of ArcelorMittal from €38.00 ($38.78) to €27.00 ($27.55) in a report on Tuesday, July 26th. StockNews.com downgraded shares of ArcelorMittal from a "strong-buy" rating to a "buy" rating in a report on Friday, July 29th. JPMorgan Chase & Co. lifted their price target on shares of ArcelorMittal from €30.50 ($31.12) to €31.00 ($31.63) in a report on Monday, August 1st. Finally, Morgan Stanley lifted their price target on shares of ArcelorMittal from €46.00 ($46.94) to €46.10 ($47.04) and gave the company an "overweight" rating in a report on Thursday, June 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $39.35.ArcelorMittal Price Performance
NYSE:MT opened at $24.68 on Friday. The company has a 50-day moving average of $24.04 and a 200-day moving average of $28.59. The company has a market capitalization of $23.15 billion, a price-to-earnings ratio of 1.49 and a beta of 1.95. ArcelorMittal has a 52 week low of $20.86 and a 52 week high of $37.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.68 and a current ratio of 1.58. Institutional Investors Weigh In On ArcelorMittal
Several institutional investors have recently modified their holdings of MT. GQG Partners LLC boosted its stake in ArcelorMittal by 30.4% during the 2nd quarter. GQG Partners LLC now owns 11,239,292 shares of the basic materials company's stock worth $254,072,000 after acquiring an additional 2,622,080 shares during the last quarter. FMR LLC boosted its stake in ArcelorMittal by 48.7% during the 2nd quarter. FMR LLC now owns 6,977,758 shares of the basic materials company's stock worth $157,697,000 after acquiring an additional 2,283,917 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in ArcelorMittal by 1,300.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,349,935 shares of the basic materials company's stock worth $171,251,000 after acquiring an additional 4,967,981 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in ArcelorMittal by 44.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,888,143 shares of the basic materials company's stock worth $124,465,000 after acquiring an additional 1,196,983 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in ArcelorMittal by 96.3% during the 1st quarter. BlackRock Inc. now owns 3,706,360 shares of the basic materials company's stock worth $118,642,000 after acquiring an additional 1,818,361 shares during the last quarter. Institutional investors and hedge funds own 41.79% of the company's stock. About ArcelorMittal (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.Featured StoriesGet a free copy of the StockNews.com research report on ArcelorMittal (MT)Institutional Support For TJX Companies May Cap GainsIf You Hate Speed Cameras, Then You’ll Like Verra Mobility Stock Is Sanofi A Buy, Despite Recent Stumbles? Starbucks Stock, Is Brand Loyalty Enough Reason to BuyBJ’s Wholesale Club Pops, Will Costco Be Next?
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