Posted by admin on Aug 20th, 2022
ArcelorMittal S.A. (NYSE:MT – Get Rating) – Equities research analysts at KeyCorp raised their FY2022 earnings per share (EPS) estimates for shares of ArcelorMittal in a research note issued on Wednesday, August 17th. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings of $12.00 per share 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.
A number of other equities analysts have also recently issued reports on MT. Deutsche Bank Aktiengesellschaft cut their price objective on ArcelorMittal from €38.00 ($38.78) to €37.00 ($37.76) in a report on Monday, August 1st. Morgan Stanley increased their target price on 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. 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. JPMorgan Chase & Co. increased their target price on ArcelorMittal from €30.50 ($31.12) to €31.00 ($31.63) in a report on Monday, August 1st. Finally, StockNews.com cut ArcelorMittal from a “strong-buy” rating to a “buy” rating in a report on Friday, July 29th. One investment 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. According to data from MarketBeat.com, ArcelorMittal has an average rating of “Moderate Buy” and a consensus price target of $39.35.
MT opened at $23.42 on Friday. The stock has a 50-day moving average price of $23.94 and a 200-day moving average price of $28.54. ArcelorMittal has a 12-month low of $20.86 and a 12-month high of $37.87. The company has a current ratio of 1.58, a quick ratio of 0.68 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $21.96 billion, a P/E ratio of 1.41 and a beta of 1.95.
ArcelorMittal (NYSE:MT – Get Rating) last announced its earnings results on Wednesday, July 27th. The basic materials company reported $4.24 earnings per share for the quarter, topping analysts’ consensus estimates of $4.19 by $0.05. The business had revenue of $22.14 billion for the quarter, compared to analyst estimates of $21.75 billion. ArcelorMittal had a return on equity of 31.17% and a net margin of 19.66%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.46 EPS.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wetherby Asset Management Inc. boosted its stake in ArcelorMittal by 3.7% during the 1st quarter. Wetherby Asset Management Inc. now owns 11,474 shares of the basic materials company’s stock valued at $367,000 after purchasing an additional 411 shares during the last quarter. Brinker Capital Investments LLC boosted its stake in ArcelorMittal by 5.5% during the 4th quarter. Brinker Capital Investments LLC now owns 10,285 shares of the basic materials company’s stock valued at $327,000 after purchasing an additional 534 shares during the last quarter. Creative Planning boosted its stake in ArcelorMittal by 6.3% during the 2nd quarter. Creative Planning now owns 9,063 shares of the basic materials company’s stock valued at $205,000 after purchasing an additional 540 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in ArcelorMittal by 3.1% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 21,838 shares of the basic materials company’s stock valued at $701,000 after purchasing an additional 650 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in ArcelorMittal by 10.7% during 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 purchasing an additional 758 shares during the last quarter. Institutional investors own 41.79% of the company’s stock.
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.
Receive News & Ratings for ArcelorMittal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcelorMittal and related companies with MarketBeat.com's FREE daily email newsletter.
Reviewing Nephros (NASDAQ:NEPH) and Sensus Healthcare (NASDAQ:SRTS)
Oppenheimer Comments on Jasper Therapeutics, Inc.’s FY2022 Earnings (NASDAQ:JSPR)