FY2024 Earnings Estimate for ArcelorMittal Issued By KeyCorp

ArcelorMittal S.A. (NYSE:MTFree Report) – Investment analysts at KeyCorp issued their FY2024 EPS estimates for ArcelorMittal in a research note issued on Tuesday, January 21st. KeyCorp analyst P. Gibbs expects that the basic materials company will post earnings of $3.15 per share for the year. The consensus estimate for ArcelorMittal’s current full-year earnings is $2.63 per share.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. cut shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a report on Friday, October 11th. Bank of America raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $30.00 to $32.90 in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.17.

View Our Latest Research Report on ArcelorMittal

ArcelorMittal Trading Up 3.7 %

ArcelorMittal stock opened at $24.89 on Friday. The business has a 50-day simple moving average of $23.90 and a two-hundred day simple moving average of $23.69. ArcelorMittal has a 52-week low of $20.52 and a 52-week high of $28.95. The company has a quick ratio of 0.59, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a market cap of $20.39 billion, a P/E ratio of -17.65, a P/E/G ratio of 0.46 and a beta of 1.75.

ArcelorMittal (NYSE:MTGet Free Report) last posted its earnings results on Thursday, November 7th. The basic materials company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.11 billion. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The firm’s revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 EPS.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MT. Geneos Wealth Management Inc. grew its holdings in ArcelorMittal by 89.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock valued at $26,000 after buying an additional 536 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of ArcelorMittal by 68.5% during the fourth quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 595 shares during the last quarter. Park Avenue Securities LLC bought a new position in shares of ArcelorMittal during the fourth quarter worth $212,000. Rhumbline Advisers grew its stake in ArcelorMittal by 6.8% during the second quarter. Rhumbline Advisers now owns 9,633 shares of the basic materials company’s stock valued at $221,000 after acquiring an additional 610 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in ArcelorMittal in the 4th quarter valued at $233,000. Hedge funds and other institutional investors own 9.29% of the company’s stock.

ArcelorMittal Company Profile

(Get Free Report)

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers 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, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.

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