ArcelorMittal SA (NYSE:MT) Expected to Post Earnings of -$0.29 Per Share

Wall Street brokerages expect ArcelorMittal SA (NYSE:MT) to announce ($0.29) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for ArcelorMittal’s earnings. ArcelorMittal posted earnings per share of ($0.53) during the same quarter last year, which would suggest a positive year over year growth rate of 45.3%. The firm is expected to report its next quarterly earnings report on Thursday, November 5th.

On average, analysts expect that ArcelorMittal will report full-year earnings of ($1.58) per share for the current fiscal year, with EPS estimates ranging from ($2.06) to ($1.09). For the next year, analysts expect that the company will post earnings of $1.16 per share, with EPS estimates ranging from $0.55 to $1.62. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that follow ArcelorMittal.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.20. The business had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.40 billion. ArcelorMittal had a negative return on equity of 4.35% and a negative net margin of 7.07%.

A number of equities research analysts recently weighed in on MT shares. Societe Generale upgraded ArcelorMittal from a “sell” rating to a “hold” rating in a report on Monday, June 22nd. Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating in a report on Thursday. UBS Group reiterated a “buy” rating on shares of ArcelorMittal in a report on Thursday, July 2nd. Zacks Investment Research cut ArcelorMittal from a “hold” rating to a “sell” rating and set a $12.00 target price on the stock. in a report on Thursday, July 23rd. Finally, Credit Suisse Group reiterated a “buy” rating on shares of ArcelorMittal in a report on Thursday, September 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $14.00.

Shares of MT traded down $1.19 on Monday, reaching $12.66. The stock had a trading volume of 6,058,690 shares, compared to its average volume of 4,795,071. The firm has a market capitalization of $12.81 billion, a PE ratio of -3.17 and a beta of 2.10. The company has a quick ratio of 0.57, a current ratio of 1.30 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average of $12.35 and a 200 day moving average of $10.80. ArcelorMittal has a twelve month low of $6.64 and a twelve month high of $18.89.

Several institutional investors have recently modified their holdings of MT. Bank of America Corp DE lifted its stake in shares of ArcelorMittal by 563.8% during the 2nd quarter. Bank of America Corp DE now owns 2,498,391 shares of the basic materials company’s stock worth $26,809,000 after purchasing an additional 2,121,991 shares during the period. FMR LLC lifted its stake in shares of ArcelorMittal by 440.1% during the 2nd quarter. FMR LLC now owns 1,680,787 shares of the basic materials company’s stock worth $18,035,000 after purchasing an additional 1,369,602 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of ArcelorMittal during the 2nd quarter worth $9,688,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of ArcelorMittal by 1,383.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 863,129 shares of the basic materials company’s stock worth $8,053,000 after purchasing an additional 804,954 shares during the period. Finally, Royal Bank of Canada raised its position in shares of ArcelorMittal by 106.9% in the 1st quarter. Royal Bank of Canada now owns 40,893 shares of the basic materials company’s stock worth $381,000 after buying an additional 636,420 shares during the period. 5.08% of the stock is currently owned by institutional investors.

ArcelorMittal Company Profile

ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through five segments: NAFTA, Brazil, Europe, ACIS, and Mining. The company produces finished and semi-finished steel products with various specifications.

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Earnings History and Estimates for ArcelorMittal (NYSE:MT)

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