Analysts Issue Forecasts for ArcelorMittal S.A.’s Q2 2022 Earnings (NYSE:MT)

ArcelorMittal S.A. (NYSE:MTGet Rating) – KeyCorp raised their Q2 2022 earnings per share estimates for shares of ArcelorMittal in a note issued to investors on Wednesday, May 18th. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will earn $4.15 per share for the quarter, up from their previous estimate of $3.70. KeyCorp also issued estimates for ArcelorMittal’s Q3 2022 earnings at $1.59 EPS and FY2022 earnings at $9.87 EPS.

Several other analysts have also recently weighed in on MT. StockNews.com upgraded shares of ArcelorMittal from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 17th. AlphaValue upgraded shares of ArcelorMittal to a “reduce” rating in a report on Tuesday, February 15th. Zacks Investment Research upgraded shares of ArcelorMittal from a “hold” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a report on Wednesday, May 11th. Credit Suisse Group raised their price objective on ArcelorMittal from $42.00 to $50.00 in a research report on Tuesday, February 22nd. Finally, JPMorgan Chase & Co. raised their price objective on ArcelorMittal from €43.00 ($44.79) to €48.00 ($50.00) in a research report on Thursday, April 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $42.13.

Shares of ArcelorMittal stock opened at $29.17 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.71 and a current ratio of 1.55. ArcelorMittal has a 52-week low of $26.36 and a 52-week high of $37.87. The stock has a market capitalization of $27.36 billion, a price-to-earnings ratio of 1.85 and a beta of 1.92. The company’s 50 day moving average price is $30.82 and its 200-day moving average price is $31.13.

ArcelorMittal (NYSE:MTGet Rating) last issued its earnings results on Thursday, May 5th. The basic materials company reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.25 by $1.02. ArcelorMittal had a net margin of 20.43% and a return on equity of 32.88%. The firm had revenue of $21.84 billion for the quarter, compared to analysts’ expectations of $21.11 billion.

Large investors have recently modified their holdings of the business. GQG Partners LLC grew its stake in shares of ArcelorMittal by 13.1% during the 3rd quarter. GQG Partners LLC now owns 26,869,976 shares of the basic materials company’s stock valued at $810,380,000 after purchasing an additional 3,115,423 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of ArcelorMittal by 1,300.7% during the 1st 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. Dimensional Fund Advisors LP grew its stake in shares of ArcelorMittal by 44.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,888,143 shares of the basic materials company’s stock valued at $124,465,000 after purchasing an additional 1,196,983 shares during the period. BlackRock Inc. grew its stake in shares of ArcelorMittal by 96.3% during the 1st 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 period. Finally, Morgan Stanley grew its stake in shares of ArcelorMittal by 98.0% during the 3rd quarter. Morgan Stanley now owns 3,205,048 shares of the basic materials company’s stock valued at $96,665,000 after purchasing an additional 1,586,116 shares during the period. 41.79% of the stock is owned by institutional investors and hedge funds.

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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