ArcelorMittal S.A. (NYSE:MT – Free 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.
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:MT – Get 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
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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