Posted by admin on Jun 2nd, 2022
Brokerages predict that ArcelorMittal S.A. (NYSE:MT – Get Rating) will post $22.50 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for ArcelorMittal’s earnings. The lowest sales estimate is $22.37 billion and the highest is $22.62 billion. ArcelorMittal posted sales of $19.34 billion during the same quarter last year, which would indicate a positive year over year growth rate of 16.3%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that ArcelorMittal will report full-year sales of $82.14 billion for the current financial year, with estimates ranging from $80.59 billion to $83.25 billion. For the next financial year, analysts expect that the business will report sales of $68.32 billion, with estimates ranging from $65.09 billion to $70.57 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover ArcelorMittal.
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 for the quarter, beating analysts’ consensus estimates of $3.25 by $1.02. ArcelorMittal had a net margin of 20.43% and a return on equity of 32.88%. The business had revenue of $21.84 billion during the quarter, compared to the consensus estimate of $21.11 billion.
MT has been the subject of several recent analyst reports. Credit Suisse Group upped their target price on shares of ArcelorMittal from $42.00 to $50.00 in a research report on Tuesday, February 22nd. StockNews.com upgraded shares of ArcelorMittal from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 17th. Zacks Investment Research upgraded shares of ArcelorMittal from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a research report on Wednesday, May 11th. Deutsche Bank Aktiengesellschaft upped their target price on shares of ArcelorMittal from €48.00 ($51.61) to €49.00 ($52.69) in a research report on Friday, May 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of ArcelorMittal from €43.00 ($46.24) to €48.00 ($51.61) in a research note on Thursday, April 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, ArcelorMittal presently has an average rating of “Buy” and an average target price of $42.13.
A number of hedge funds have recently added to or reduced their stakes in MT. OLD Mission Capital LLC acquired a new stake in ArcelorMittal during the third quarter valued at approximately $1,311,000. Morgan Stanley lifted its stake in ArcelorMittal by 29.8% during the second quarter. Morgan Stanley now owns 1,618,932 shares of the basic materials company’s stock valued at $50,283,000 after purchasing an additional 371,294 shares during the last quarter. BlackRock Inc. raised its holdings in shares of ArcelorMittal by 3.3% during the third 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 during the period. American Century Companies Inc. raised its holdings in shares of ArcelorMittal by 1.8% during the third 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 during the period. Finally, Geode Capital Management LLC raised its holdings in shares of ArcelorMittal by 11.8% during the third quarter. Geode Capital Management LLC now owns 18,038 shares of the basic materials company’s stock valued at $544,000 after acquiring an additional 1,905 shares during the period. 41.79% of the stock is owned by institutional investors and hedge funds.
NYSE MT opened at $31.90 on Thursday. ArcelorMittal has a 52 week low of $26.36 and a 52 week high of $37.87. The company has a current ratio of 1.55, a quick ratio of 0.71 and a debt-to-equity ratio of 0.11. The stock has a market cap of $29.92 billion, a price-to-earnings ratio of 2.02 and a beta of 1.92. The company has a 50-day moving average price of $30.73 and a two-hundred day moving average price of $31.13.
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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