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ArcelorMittal S.A. (NYSE:MT - Get Rating) - Investment analysts at KeyCorp issued their Q3 2022 earnings per share (EPS) estimates for ArcelorMittal in a note issued to investors on Wednesday, August 17th. KeyCorp analyst P. Gibbs expects that the basic materials company will post earnings per share of $2.06 for the quarter. 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 $1.30 EPS and FY2023 earnings at $2.45 EPS.
Other equities research analysts have also recently issued research reports about the company. UBS Group reduced their price objective on ArcelorMittal from €38.00 ($38.78) to €27.00 ($27.55) in a research note on Tuesday, July 26th. Deutsche Bank Aktiengesellschaft reduced their price objective on ArcelorMittal from €38.00 ($38.78) to €37.00 ($37.76) in a research note on Monday, August 1st. JPMorgan Chase & Co. raised their price objective on ArcelorMittal from €30.50 ($31.12) to €31.00 ($31.63) in a research note on Monday, August 1st. Morgan Stanley raised their price objective on ArcelorMittal from €46.00 ($46.94) to €46.10 ($47.04) and gave the company an "overweight" rating in a research note on Thursday, June 23rd. Finally, StockNews.com cut ArcelorMittal from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, ArcelorMittal presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.35.ArcelorMittal Trading Down 5.1 %
Shares of MT stock opened at $23.42 on Monday. The company has a market cap of $21.96 billion, a P/E ratio of 1.41 and a beta of 1.95. The stock has a 50 day simple moving average of $23.94 and a two-hundred day simple moving average of $28.49. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.68 and a current ratio of 1.58. ArcelorMittal has a fifty-two week low of $20.86 and a fifty-two week high of $37.87.
ArcelorMittal (NYSE:MT - Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The basic materials company reported $4.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.19 by $0.05. ArcelorMittal had a return on equity of 31.17% and a net margin of 19.66%. The company had revenue of $22.14 billion during the quarter, compared to the consensus estimate of $21.75 billion. During the same period last year, the company earned $3.46 earnings per share. The firm's revenue was up 14.5% compared to the same quarter last year. Hedge Funds Weigh In On ArcelorMittal
Several institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its position 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. GQG Partners LLC grew its position in shares of ArcelorMittal by 30.4% in the 2nd quarter. GQG Partners LLC now owns 11,239,292 shares of the basic materials company's stock worth $254,072,000 after buying an additional 2,622,080 shares during the last quarter. FMR LLC grew its position in shares of ArcelorMittal by 48.7% in the 2nd quarter. FMR LLC now owns 6,977,758 shares of the basic materials company's stock worth $157,697,000 after buying an additional 2,283,917 shares during the last quarter. BlackRock Inc. grew its position in shares of ArcelorMittal by 96.3% in the 1st quarter. BlackRock Inc. now owns 3,706,360 shares of the basic materials company's stock worth $118,642,000 after buying an additional 1,818,361 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of ArcelorMittal in the 1st quarter worth approximately $54,502,000. 41.79% of the stock is currently owned by institutional investors. 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.Read MoreGet a free copy of the StockNews.com research report on ArcelorMittal (MT)2 EV Suppliers Powering To Gains After Raising Views Applied Materials Results Show A Slowing Semiconductor MarketMarketBeat: Week in Review 8/15 - 8/19Apple’s Stock Could Be On The Verge Of Another 30% RallyNear-Term Headwinds Present An Opportunity In Ross Stores
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