ArcelorMittal SA (NYSE:MT) Forecasted to Post FY2021 Earnings of $1.60 Per Share

ArcelorMittal SA (NYSE:MT) – Equities research analysts at KeyCorp issued their FY2021 EPS estimates for ArcelorMittal in a research note issued to investors on Monday, March 23rd. KeyCorp analyst P. Gibbs anticipates that the basic materials company will post earnings per share of $1.60 for the year. KeyCorp has a “Overweight” rating and a $13.00 price target on the stock.

Several other research firms have also issued reports on MT. UBS Group reissued a “buy” rating on shares of ArcelorMittal in a research note on Thursday, March 19th. ValuEngine raised ArcelorMittal from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. ArcelorMittal currently has an average rating of “Hold” and a consensus target price of $18.75.

NYSE:MT opened at $9.54 on Thursday. The firm has a market capitalization of $9.24 billion, a price-to-earnings ratio of -3.94 and a beta of 2.21. ArcelorMittal has a 52-week low of $6.64 and a 52-week high of $24.19. The stock has a fifty day moving average of $13.43 and a 200 day moving average of $15.43. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.53 and a current ratio of 1.34.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, February 6th. The basic materials company reported ($0.22) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.24. The company had revenue of $15.51 billion during the quarter, compared to analyst estimates of $15.36 billion. ArcelorMittal had a positive return on equity of 0.63% and a negative net margin of 3.48%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aigen Investment Management LP purchased a new stake in ArcelorMittal during the fourth quarter valued at about $36,000. Tower Research Capital LLC TRC purchased a new stake in ArcelorMittal during the fourth quarter valued at about $48,000. NEXT Financial Group Inc raised its position in ArcelorMittal by 90.9% during the fourth quarter. NEXT Financial Group Inc now owns 10,499 shares of the basic materials company’s stock valued at $184,000 after purchasing an additional 5,000 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in ArcelorMittal during the fourth quarter valued at about $235,000. Finally, Greenleaf Trust purchased a new stake in ArcelorMittal during the fourth quarter valued at about $243,000. Institutional investors and hedge funds own 3.31% of the company’s stock.

About ArcelorMittal

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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