ArcelorMittal SA (NYSE:MT) Expected to Post Earnings of $0.49 Per Share

Brokerages expect ArcelorMittal SA (NYSE:MT) to post $0.49 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for ArcelorMittal’s earnings. ArcelorMittal posted earnings of $1.83 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 73.2%. The company 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 earnings of $1.56 per share for the current financial year, with EPS estimates ranging from $1.29 to $1.90. For the next year, analysts forecast that the company will report earnings of $2.81 per share, with EPS estimates ranging from $1.83 to $3.44. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for ArcelorMittal.

ArcelorMittal (NYSE:MT) last issued its earnings results on Thursday, May 9th. The basic materials company reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.35). The firm had revenue of $19.19 billion for the quarter, compared to the consensus estimate of $18.83 billion. ArcelorMittal had a net margin of 5.75% and a return on equity of 11.63%.

A number of equities research analysts have weighed in on MT shares. Goldman Sachs Group started coverage on Taylor Wimpey in a research report on Wednesday, June 12th. They set a “buy” rating for the company. ValuEngine raised XOMA from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. KeyCorp lifted their target price on Rapid7 from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Zacks Investment Research raised Green Brick Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Finally, TheStreet lowered Unit from a “c-” rating to a “d+” rating in a research report on Tuesday, May 21st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $26.79.

Shares of NYSE MT opened at $16.76 on Tuesday. 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 firm’s fifty day moving average price is $16.48. The company has a market cap of $17.09 billion, a price-to-earnings ratio of 2.91, a PEG ratio of 5.18 and a beta of 2.34. ArcelorMittal has a twelve month low of $14.66 and a twelve month high of $32.93.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cambiar Investors LLC raised its position 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 worth $96,897,000 after acquiring an additional 586,262 shares in the last quarter. Dimensional Fund Advisors LP raised its position 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 worth $52,451,000 after acquiring an additional 74,628 shares in the last quarter. Deutsche Bank AG raised its position 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 worth $26,522,000 after acquiring an additional 45,717 shares in the last quarter. Parametric Portfolio Associates LLC raised its position 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 worth $18,489,000 after acquiring an additional 17,804 shares in the last quarter. Finally, Standard Life Aberdeen plc raised its position in shares of ArcelorMittal by 5.5% in the 4th quarter. Standard Life Aberdeen plc now owns 487,900 shares of the basic materials company’s stock worth $10,109,000 after acquiring an additional 25,400 shares in the last quarter. 3.20% of the stock is 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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Earnings History and Estimates for ArcelorMittal (NYSE:MT)

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