ArcelorMittal SA (NYSE:MT) – KeyCorp reduced their FY2019 earnings per share estimates for ArcelorMittal in a research note issued on Monday, June 17th, Zacks Investment Research reports. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings of $1.29 per share for the year, down from their prior forecast of $1.33. KeyCorp currently has a “Sector Weight” rating and a $22.57 price target on the stock.
Several other equities analysts have also commented on MT. Goldman Sachs Group assumed coverage on Taylor Wimpey in a research note on Wednesday, June 12th. They set a “buy” rating on the stock. TheStreet lowered Unit from a “c-” rating to a “d+” rating in a research note on Tuesday, May 21st. ValuEngine upgraded XOMA from a “sell” rating to a “hold” rating in a research note on Friday, May 24th. Finally, Zacks Investment Research upgraded Green Brick Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $26.79.
Shares of ArcelorMittal stock traded up $0.48 during trading on Thursday, hitting $16.76. 2,996,209 shares of the stock traded hands, compared to its average volume of 2,545,875. The stock has a market cap of $17.09 billion, a price-to-earnings ratio of 2.91, a P/E/G ratio of 5.18 and a beta of 2.34. The company has a current ratio of 1.40, a quick ratio of 0.52 and a debt-to-equity ratio of 0.24. ArcelorMittal has a 52-week low of $14.66 and a 52-week high of $32.93. The firm’s fifty day moving average is $16.48.
ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, May 9th. The basic materials company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.35). The firm had revenue of $19.19 billion for the quarter, compared to analysts’ expectations of $18.83 billion. ArcelorMittal had a net margin of 5.75% and a return on equity of 11.63%.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of Montreal Can increased its stake in shares of ArcelorMittal by 26.5% during the 4th quarter. Bank of Montreal Can now owns 7,619 shares of the basic materials company’s stock worth $158,000 after purchasing an additional 1,598 shares during the last quarter. Creative Planning increased its stake in shares of ArcelorMittal by 34.0% during the 4th quarter. Creative Planning now owns 10,848 shares of the basic materials company’s stock worth $224,000 after purchasing an additional 2,753 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of ArcelorMittal by 1.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 49,085 shares of the basic materials company’s stock worth $1,015,000 after purchasing an additional 931 shares during the last quarter. Greenleaf Trust increased its stake in shares of ArcelorMittal by 15.7% during the 4th quarter. Greenleaf Trust now owns 11,313 shares of the basic materials company’s stock worth $234,000 after purchasing an additional 1,539 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of ArcelorMittal by 23.9% during the 4th quarter. First Trust Advisors LP now owns 25,844 shares of the basic materials company’s stock worth $534,000 after purchasing an additional 4,983 shares during the last quarter. Institutional investors own 3.20% of the company’s stock.
About ArcelorMittal
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.