Equities research analysts expect ArcelorMittal SA (NYSE:MT) to post sales of $19.47 billion for the current quarter, according to Zacks. Two analysts have issued estimates for ArcelorMittal’s earnings, with estimates ranging from $19.40 billion to $19.55 billion. ArcelorMittal reported sales of $20.00 billion in the same quarter last year, which indicates a negative year over year growth rate of 2.7%. The business is expected to announce its next earnings results before the market opens on Thursday, August 1st.
On average, analysts expect that ArcelorMittal will report full year sales of $75.03 billion for the current year, with estimates ranging from $70.53 billion to $77.43 billion. For the next year, analysts forecast that the business will post sales of $74.54 billion, with estimates ranging from $70.20 billion to $77.01 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for ArcelorMittal.
ArcelorMittal (NYSE:MT) last announced its earnings results on Thursday, May 9th. The basic materials company reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.35). ArcelorMittal had a return on equity of 11.63% and a net margin of 5.75%. The firm had revenue of $19.19 billion for the quarter, compared to analyst estimates of $18.83 billion.
MT has been the topic of a number of analyst reports. Goldman Sachs Group initiated coverage on shares of Taylor Wimpey in a research report on Wednesday, June 12th. They set a “buy” rating on the stock. KeyCorp lifted their price target on shares of Rapid7 from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, April 15th. ValuEngine upgraded shares of XOMA from a “sell” rating to a “hold” rating in a report on Friday, May 24th. TheStreet lowered shares of Unit from a “c-” rating to a “d+” rating in a report on Tuesday, May 21st. Finally, Zacks Investment Research upgraded shares of Green Brick Partners from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. ArcelorMittal has a consensus rating of “Hold” and an average target price of $26.79.
Several institutional investors and hedge funds have recently made changes to their positions in MT. Cambiar Investors LLC raised its stake in shares of ArcelorMittal by 14.1% in the 1st quarter. Cambiar Investors LLC now owns 4,754,510 shares of the basic materials company’s stock valued at $96,897,000 after acquiring an additional 586,262 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of ArcelorMittal by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,537,526 shares of the basic materials company’s stock valued at $52,451,000 after acquiring an additional 74,628 shares during the period. Deutsche Bank AG raised its stake in shares of ArcelorMittal by 3.7% in the 4th quarter. Deutsche Bank AG now owns 1,283,149 shares of the basic materials company’s stock valued at $26,522,000 after acquiring an additional 45,717 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of ArcelorMittal by 2.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 907,209 shares of the basic materials company’s stock valued at $18,489,000 after acquiring an additional 17,804 shares during the period. Finally, Marshall Wace North America L.P. purchased a new position in shares of ArcelorMittal in the 1st quarter valued at $5,021,000. Institutional investors own 3.20% of the company’s stock.
Shares of NYSE MT opened at $16.76 on Thursday. ArcelorMittal has a 1 year low of $14.66 and a 1 year high of $32.93. The stock’s 50 day moving average price is $16.48. The firm has a market capitalization of $17.09 billion, a price-to-earnings ratio of 2.91, a P/E/G ratio of 5.18 and a beta of 2.34. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.52 and a current ratio of 1.40.
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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