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ArcelorMittal (NYSE:MT - Get Rating) will be announcing its earnings results before the market opens on Thursday, July 28th. Analysts expect the company to announce earnings of $4.15 per share for the quarter.
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 (EPS) for the quarter, beating analysts' consensus estimates of $3.25 by $1.02. ArcelorMittal had a return on equity of 32.88% and a net margin of 20.43%. The firm had revenue of $21.84 billion for the quarter, compared to analysts' expectations of $21.11 billion. On average, analysts expect ArcelorMittal to post $12 EPS for the current fiscal year and $5 EPS for the next fiscal year. ArcelorMittal Stock Down 1.0 %
Shares of NYSE:MT opened at $23.26 on Thursday. 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 capitalization of $21.81 billion, a P/E ratio of 1.47 and a beta of 2.00. ArcelorMittal has a 12-month low of $20.86 and a 12-month high of $37.87. The stock's 50-day moving average price is $26.74 and its 200-day moving average price is $29.91. Institutional Investors Weigh In On ArcelorMittal
A number of hedge funds and other institutional investors have recently modified their holdings of MT. Arrowstreet Capital Limited Partnership raised its stake in shares of ArcelorMittal by 1,300.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 5,349,935 shares of the basic materials company's stock valued at $171,251,000 after purchasing an additional 4,967,981 shares during the period. BlackRock Inc. increased its stake in ArcelorMittal by 96.3% during the first quarter. BlackRock Inc. now owns 3,706,360 shares of the basic materials company's stock valued at $118,642,000 after purchasing an additional 1,818,361 shares during the last quarter. Renaissance Technologies LLC bought a new stake in ArcelorMittal during the first quarter valued at $54,502,000. Clearbridge Investments LLC boosted its holdings in shares of ArcelorMittal by 21.8% during the first quarter. Clearbridge Investments LLC now owns 3,126,342 shares of the basic materials company's stock valued at $100,074,000 after acquiring an additional 558,849 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of ArcelorMittal by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 856,592 shares of the basic materials company's stock valued at $27,420,000 after acquiring an additional 71,185 shares during the period. 41.79% of the stock is currently owned by hedge funds and other institutional investors. Analysts Set New Price Targets
Several analysts have commented on MT shares. StockNews.com upgraded shares of ArcelorMittal from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 17th. JPMorgan Chase & Co. cut shares of ArcelorMittal from an "overweight" rating to a "neutral" rating in a research report on Wednesday, June 22nd. Morgan Stanley increased their target price on shares of ArcelorMittal from €46.00 ($46.46) to €46.10 ($46.57) and gave the company an "overweight" rating in a research report on Thursday, June 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of ArcelorMittal from $53.00 to $39.00 and set a "buy" rating for the company in a research report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, ArcelorMittal currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.68.About ArcelorMittal (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.Recommended StoriesGet a free copy of the StockNews.com research report on ArcelorMittal (MT)These 3 Mega Caps are Bear Market BuysThe Top-Rated Consumer Defensive Stocks With Yield Above 3.5% How Low Can DocuSign Stock Go?Need Yield? Energy Transfer LP Has It And More JB Hunt's Results Beat Forecasts As Transport Industry Continues To Enjoy Strong Results.
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