Wall Street brokerages expect ArcelorMittal SA (NYSE:MT) to report sales of $19.47 billion for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for ArcelorMittal’s earnings, with the lowest sales estimate coming in at $19.40 billion and the highest estimate coming in at $19.55 billion. ArcelorMittal posted sales of $20.00 billion during the same quarter last year, which would indicate a negative year over year growth rate of 2.7%. The company is scheduled to announce its next quarterly earnings results before the market opens on Thursday, August 1st.
On average, analysts expect that ArcelorMittal will report full-year sales of $74.76 billion for the current fiscal year, with estimates ranging from $70.53 billion to $77.43 billion. For the next financial year, analysts anticipate that the firm will report sales of $74.52 billion, with estimates ranging from $70.20 billion to $77.01 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for ArcelorMittal.
ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, May 9th. The basic materials company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.35). ArcelorMittal had a return on equity of 11.63% and a net margin of 5.75%. The business had revenue of $19.19 billion during the quarter, compared to analysts’ expectations of $18.83 billion.
Several research firms recently commented on MT. KeyCorp lifted their price objective on Rapid7 from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. TheStreet downgraded Unit from a “c-” rating to a “d+” rating in a report on Tuesday, May 21st. ValuEngine upgraded XOMA from a “sell” rating to a “hold” rating in a research note on Friday, May 24th. Zacks Investment Research upgraded Green Brick Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Finally, Goldman Sachs Group initiated coverage on Taylor Wimpey in a research note on Wednesday, June 12th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $26.79.
Shares of NYSE:MT traded up $0.23 on Thursday, hitting $17.22. 2,512,500 shares of the company traded hands, compared to its average volume of 2,971,579. ArcelorMittal has a 52 week low of $14.66 and a 52 week high of $32.93. The company has a current ratio of 1.40, a quick ratio of 0.52 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average price of $16.56. The company has a market capitalization of $17.46 billion, a P/E ratio of 2.99, a PEG ratio of 5.86 and a beta of 2.34.
Several hedge funds have recently bought and sold shares of MT. Cambiar Investors LLC lifted its holdings in ArcelorMittal by 14.1% in the 1st quarter. Cambiar Investors LLC now owns 4,754,510 shares of the basic materials company’s stock worth $96,897,000 after purchasing an additional 586,262 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in ArcelorMittal in the 1st quarter worth approximately $5,021,000. Bank of Montreal Can lifted its holdings in ArcelorMittal by 2,543.6% in the 1st quarter. Bank of Montreal Can now owns 201,417 shares of the basic materials company’s stock worth $4,104,000 after purchasing an additional 193,798 shares in the last quarter. Susquehanna International Group Ltd. purchased a new stake in shares of ArcelorMittal during the 4th quarter worth approximately $3,530,000. Finally, Two Sigma Advisers LP purchased a new stake in shares of ArcelorMittal during the 4th quarter worth approximately $1,985,000. 3.20% of the stock is currently owned by hedge funds and other institutional investors.
ArcelorMittal Company Profile
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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