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ArcelorMittal S.A. (NYSE:MT - Get Rating) - Research analysts at KeyCorp reduced their Q3 2022 earnings per share (EPS) estimates for ArcelorMittal in a report issued on Tuesday, September 20th. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings of $1.49 per share for the quarter, down from their prior forecast of $2.06. The consensus estimate for ArcelorMittal's current full-year earnings is $12.48 per share. KeyCorp also issued estimates for ArcelorMittal's Q4 2022 earnings at $0.85 EPS, FY2022 earnings at $10.85 EPS and FY2023 earnings at $2.40 EPS.

ArcelorMittal (NYSE:MT - Get Rating) last issued its earnings results on Wednesday, July 27th. The basic materials company reported $4.24 EPS for the quarter, beating analysts' consensus estimates of $4.19 by $0.05. The firm had revenue of $22.14 billion for the quarter, compared to the consensus estimate of $21.75 billion. ArcelorMittal had a return on equity of 31.17% and a net margin of 19.66%. The business's quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.46 earnings per share.

Several other research firms have also recently commented on MT. StockNews.com cut ArcelorMittal from a "strong-buy" rating to a "buy" rating in a report on Friday, July 29th. Deutsche Bank Aktiengesellschaft cut their price target on ArcelorMittal from €38.00 ($38.78) to €37.00 ($37.76) in a report on Monday, August 1st. JPMorgan Chase & Co. upped their price target on ArcelorMittal from €30.50 ($31.12) to €31.00 ($31.63) in a report on Monday, August 1st. UBS Group dropped their target price on ArcelorMittal from €38.00 ($38.78) to €27.00 ($27.55) in a report on Tuesday, July 26th. Finally, Morgan Stanley increased their target price on ArcelorMittal from €46.00 ($46.94) to €46.10 ($47.04) and gave the stock an "overweight" rating in a report on Thursday, June 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $39.35.ArcelorMittal Trading Up 0.8 %

ArcelorMittal stock opened at $21.31 on Friday. The business has a 50 day moving average price of $23.41 and a two-hundred day moving average price of $27.14. The company has a quick ratio of 0.68, a current ratio of 1.58 and a debt-to-equity ratio of 0.11. The stock has a market cap of $19.98 billion, a price-to-earnings ratio of 1.28 and a beta of 1.93. ArcelorMittal has a 12 month low of $20.86 and a 12 month high of $37.87. Institutional Investors Weigh In On ArcelorMittal

A number of hedge funds and other institutional investors have recently bought and sold shares of MT. Wetherby Asset Management Inc. boosted its position in ArcelorMittal by 3.7% in the 1st quarter. Wetherby Asset Management Inc. now owns 11,474 shares of the basic materials company's stock valued at $367,000 after buying an additional 411 shares during the last quarter. Creative Planning boosted its position in ArcelorMittal by 6.3% in the 2nd quarter. Creative Planning now owns 9,063 shares of the basic materials company's stock valued at $205,000 after buying an additional 540 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in ArcelorMittal by 10.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,874 shares of the basic materials company's stock valued at $252,000 after buying an additional 758 shares during the last quarter. Profund Advisors LLC boosted its position in ArcelorMittal by 5.2% in the 1st quarter. Profund Advisors LLC now owns 16,290 shares of the basic materials company's stock valued at $521,000 after buying an additional 807 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in ArcelorMittal by 166.1% in the 1st quarter. Captrust Financial Advisors now owns 1,381 shares of the basic materials company's stock valued at $44,000 after buying an additional 862 shares during the last quarter. 10.00% of the stock is owned by institutional investors and hedge funds. 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.Featured StoriesGet a free copy of the StockNews.com research report on ArcelorMittal (MT)The Institutions Hold On To Darden Restaurants International What Steelcase's Earnings Say About the Return to the Office? Is The Golden Age Of Homebuilding Already Over? These 3 Big Dividend Payers Also Boast Strong Price Growth Natural Gas Prices Continue To Rally, These Stocks Should Benefit

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