Zacks: Analysts Anticipate ArcelorMittal S.A. (NYSE:MT) Will Announce Earnings of $3.25 Per Share

Brokerages forecast that ArcelorMittal S.A. (NYSE:MTGet Rating) will announce earnings of $3.25 per share for the current quarter, according to Zacks. Two analysts have issued estimates for ArcelorMittal’s earnings. ArcelorMittal posted earnings per share of $1.93 during the same quarter last year, which suggests a positive year over year growth rate of 68.4%. The business is expected to report its next quarterly earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that ArcelorMittal will report full year earnings of $10.60 per share for the current financial year, with EPS estimates ranging from $8.95 to $12.72. For the next year, analysts expect that the company will post earnings of $6.37 per share, with EPS estimates ranging from $4.97 to $6.95. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow ArcelorMittal.

ArcelorMittal (NYSE:MTGet Rating) last posted its quarterly earnings results on Thursday, February 10th. The basic materials company reported $3.71 EPS for the quarter, topping the consensus estimate of $3.39 by $0.32. ArcelorMittal had a net margin of 19.53% and a return on equity of 31.46%. The company had revenue of $20.81 billion during the quarter, compared to analysts’ expectations of $19.98 billion. During the same quarter in the previous year, the business posted $0.18 EPS. The firm’s revenue was up 46.7% on a year-over-year basis.

Several research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of ArcelorMittal in a report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Deutsche Bank Aktiengesellschaft upped their target price on shares of ArcelorMittal from €46.00 ($49.46) to €48.00 ($51.61) in a report on Thursday, April 14th. AlphaValue upgraded shares of ArcelorMittal to a “reduce” rating in a report on Tuesday, February 15th. The Goldman Sachs Group cut shares of ArcelorMittal from a “buy” rating to a “neutral” rating in a report on Wednesday, January 26th. Finally, Credit Suisse Group upped their target price on shares of ArcelorMittal from $42.00 to $50.00 in a report on Tuesday, February 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $41.32.

NYSE MT opened at $31.33 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 1.45 and a debt-to-equity ratio of 0.13. ArcelorMittal has a 52 week low of $26.59 and a 52 week high of $37.87. The stock has a market capitalization of $29.38 billion, a PE ratio of 2.33 and a beta of 2.00. The firm has a 50 day moving average of $31.55 and a two-hundred day moving average of $31.64.

The firm also recently declared an annual dividend, which will be paid on Friday, June 10th. Investors of record on Monday, May 16th will be given a $0.38 dividend. This is an increase from ArcelorMittal’s previous annual dividend of $0.30. The ex-dividend date is Friday, May 13th. This represents a yield of 1.8%. ArcelorMittal’s dividend payout ratio is 1.86%.

A number of hedge funds have recently added to or reduced their stakes in the stock. Schonfeld Strategic Advisors LLC raised its position in ArcelorMittal by 52.0% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 641,833 shares of the basic materials company’s stock worth $19,358,000 after buying an additional 219,450 shares during the last quarter. Signaturefd LLC raised its position in ArcelorMittal by 83.8% during the 4th quarter. Signaturefd LLC now owns 8,223 shares of the basic materials company’s stock worth $262,000 after buying an additional 3,748 shares during the last quarter. Thomas White International Ltd. purchased a new position in ArcelorMittal during the 3rd quarter worth $1,861,000. O Shaughnessy Asset Management LLC raised its position in ArcelorMittal by 9,294.2% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 30,719 shares of the basic materials company’s stock worth $926,000 after buying an additional 30,392 shares during the last quarter. Finally, Royal Bank of Canada raised its position in ArcelorMittal by 57.8% during the 3rd quarter. Royal Bank of Canada now owns 68,449 shares of the basic materials company’s stock worth $2,064,000 after buying an additional 25,067 shares during the last quarter. Hedge funds and other institutional investors own 44.75% of the company’s stock.

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.

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