Equities analysts expect that ArcelorMittal SA (NYSE:MT) will report $17.70 billion in sales for the current quarter, according to Zacks. Two analysts have issued estimates for ArcelorMittal’s earnings, with estimates ranging from $17.47 billion to $17.92 billion. ArcelorMittal reported sales of $18.52 billion in the same quarter last year, which would suggest a negative year over year growth rate of 4.4%. The business is scheduled to announce its next quarterly earnings results on Thursday, November 7th.
According to Zacks, analysts expect that ArcelorMittal will report full-year sales of $72.65 billion for the current fiscal year, with estimates ranging from $70.56 billion to $73.83 billion. For the next financial year, analysts anticipate that the firm will report sales of $73.05 billion, with estimates ranging from $70.12 billion to $75.30 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover ArcelorMittal.
ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, August 1st. The basic materials company reported $0.49 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.49. ArcelorMittal had a net margin of 2.73% and a return on equity of 8.39%. The business had revenue of $19.28 billion for the quarter, compared to analyst estimates of $18.90 billion. During the same quarter in the prior year, the firm posted $1.83 EPS. ArcelorMittal’s revenue was down 3.6% on a year-over-year basis.
A number of research firms have commented on MT. ValuEngine cut shares of ArcelorMittal from a “sell” rating to a “strong sell” rating in a research note on Friday, May 24th. Goldman Sachs Group raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 12th. Finally, Credit Suisse Group reissued a “buy” rating on shares of ArcelorMittal in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $27.52.
A number of hedge funds have recently added to or reduced their stakes in MT. BNP Paribas Arbitrage SA boosted its stake in shares of ArcelorMittal by 4,549.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,533 shares of the basic materials company’s stock valued at $113,000 after purchasing an additional 5,414 shares in the last quarter. Comerica Bank boosted its stake in shares of ArcelorMittal by 4.4% in the 1st quarter. Comerica Bank now owns 67,957 shares of the basic materials company’s stock valued at $1,515,000 after purchasing an additional 2,851 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of ArcelorMittal by 166.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,846 shares of the basic materials company’s stock valued at $649,000 after purchasing an additional 19,894 shares in the last quarter. TD Asset Management Inc. boosted its stake in shares of ArcelorMittal by 31.7% in the 1st quarter. TD Asset Management Inc. now owns 69,433 shares of the basic materials company’s stock valued at $1,415,000 after purchasing an additional 16,700 shares in the last quarter. Finally, Greenleaf Trust boosted its stake in shares of ArcelorMittal by 67.8% in the 1st quarter. Greenleaf Trust now owns 18,987 shares of the basic materials company’s stock valued at $387,000 after purchasing an additional 7,674 shares in the last quarter. 2.59% of the stock is owned by institutional investors and hedge funds.
MT stock traded down $0.33 during midday trading on Wednesday, reaching $15.03. The company had a trading volume of 3,259,064 shares, compared to its average volume of 3,567,167. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.52. ArcelorMittal has a 1 year low of $12.53 and a 1 year high of $32.73. The company has a market capitalization of $16.42 billion, a P/E ratio of 2.61 and a beta of 2.41. The firm has a 50-day moving average price of $14.50 and a 200-day moving average price of $17.83.
ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through five segments: NAFTA, Brazil, Europe, ACIS, and Mining. The company produces finished and semi-finished steel products with various specifications.
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