FY2022 EPS Estimates for ArcelorMittal S.A. (NYSE:MT) Increased by KeyCorp

ArcelorMittal S.A. (NYSE:MTGet Rating) – Equities research analysts at KeyCorp boosted their FY2022 earnings estimates for shares of ArcelorMittal in a research report issued on Monday, November 21st. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings of $10.65 per share for the year, up from their previous forecast of $10.35. The consensus estimate for ArcelorMittal’s current full-year earnings is $10.31 per share. KeyCorp also issued estimates for ArcelorMittal’s Q4 2022 earnings at $0.55 EPS and FY2023 earnings at $1.75 EPS.

Several other analysts have also recently weighed in on MT. UBS Group cut shares of ArcelorMittal from a “buy” rating to a “neutral” rating and set a $20.70 price objective on the stock. in a research note on Thursday, October 6th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of ArcelorMittal from €37.00 ($37.76) to €33.00 ($33.67) in a report on Monday, October 10th. Morgan Stanley cut their price objective on shares of ArcelorMittal from €40.00 ($40.82) to €38.00 ($38.78) and set an “overweight” rating on the stock in a report on Tuesday, November 15th. StockNews.com upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of ArcelorMittal from €23.50 ($23.98) to €24.50 ($25.00) in a report on Monday, November 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $35.20.

ArcelorMittal Stock Down 0.6 %

Shares of MT opened at $26.37 on Thursday. The company has a 50-day simple moving average of $22.68 and a 200-day simple moving average of $24.50. The firm has a market capitalization of $24.73 billion, a P/E ratio of 1.95 and a beta of 1.90. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.70 and a current ratio of 1.62. ArcelorMittal has a 52 week low of $19.25 and a 52 week high of $37.87.

Institutional Investors Weigh In On ArcelorMittal

A number of institutional investors have recently added to or reduced their stakes in MT. Tower Research Capital LLC TRC bought a new stake in shares of ArcelorMittal in the 3rd quarter valued at $28,000. Wipfli Financial Advisors LLC bought a new stake in shares of ArcelorMittal in the 3rd quarter worth $42,000. Captrust Financial Advisors grew its stake in shares of ArcelorMittal by 166.1% in the 1st 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 bought a new stake in shares of ArcelorMittal in the 1st quarter worth $45,000. Finally, Elequin Capital LP bought a new position in ArcelorMittal during the first quarter valued at about $79,000. 10.00% of the stock is owned by institutional investors.

About ArcelorMittal

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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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Earnings History and Estimates for ArcelorMittal (NYSE:MT)

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