$22.50 Billion in Sales Expected for ArcelorMittal S.A. (NYSE:MT) This Quarter

Analysts expect ArcelorMittal S.A. (NYSE:MTGet Rating) to post sales of $22.50 billion for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for ArcelorMittal’s earnings. The lowest sales estimate is $22.37 billion and the highest is $22.62 billion. ArcelorMittal posted sales of $19.34 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 16.3%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that ArcelorMittal will report full year sales of $82.14 billion for the current year, with estimates ranging from $80.59 billion to $83.25 billion. For the next financial year, analysts expect that the company will post sales of $68.32 billion, with estimates ranging from $65.09 billion to $70.57 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow ArcelorMittal.

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

A number of research analysts have recently issued reports on the stock. Credit Suisse Group raised their price target on shares of ArcelorMittal from $42.00 to $50.00 in a research report on Tuesday, February 22nd. 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 research report on Wednesday, May 11th. JPMorgan Chase & Co. raised their price target on shares of ArcelorMittal from €43.00 ($46.24) to €48.00 ($51.61) in a research report on Thursday, April 28th. AlphaValue upgraded shares of ArcelorMittal to a “reduce” rating in a research report on Tuesday, February 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of ArcelorMittal from €48.00 ($51.61) to €49.00 ($52.69) in a research report on Friday, May 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $42.13.

Shares of MT stock opened at $31.90 on Thursday. The firm has a market cap of $29.92 billion, a P/E ratio of 2.02 and a beta of 1.92. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.55 and a quick ratio of 0.71. ArcelorMittal has a 1-year low of $26.36 and a 1-year high of $37.87. The firm has a fifty day moving average of $30.73 and a two-hundred day moving average of $31.13.

Hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. grew its stake in shares of ArcelorMittal by 320.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 909 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 693 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of ArcelorMittal by 82.3% in the fourth quarter. BNP Paribas Arbitrage SA now owns 1,353 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 611 shares in the last quarter. Captrust Financial Advisors increased its position in shares of ArcelorMittal by 166.1% in the first quarter. Captrust Financial Advisors now owns 1,381 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 862 shares in the last quarter. Prospera Financial Services Inc purchased a new position in shares of ArcelorMittal in the first quarter worth approximately $45,000. Finally, National Bank of Canada FI purchased a new position in shares of ArcelorMittal in the fourth quarter worth approximately $46,000. Institutional investors own 41.79% of the company’s stock.

ArcelorMittal Company Profile (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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