ArcelorMittal S.A. Forecasted to Earn Q1 2022 Earnings of $3.25 Per Share (NYSE:MT)

ArcelorMittal S.A. (NYSE:MT – Get Rating) – Equities research analysts at KeyCorp cut their Q1 2022 earnings per share (EPS) estimates for ArcelorMittal in a research note issued on Tuesday, April 19th. KeyCorp analyst P. Gibbs now expects that the basic materials company will earn $3.25 per share for the quarter, down from their previous estimate of $3.37. KeyCorp also issued estimates for ArcelorMittal’s Q2 2022 earnings at $3.63 EPS and FY2022 earnings at $8.95 EPS.

ArcelorMittal (NYSE:MT – Get Rating) last released its quarterly earnings results on Thursday, February 10th. The basic materials company reported $3.71 EPS for the quarter, topping the consensus estimate of $3.39 by $0.32. ArcelorMittal had a return on equity of 31.46% and a net margin of 19.53%. The business had revenue of $20.81 billion during the quarter, compared to analyst estimates of $19.98 billion. During the same period last year, the business posted $0.18 earnings per share. The company’s quarterly revenue was up 46.7% on a year-over-year basis.

MT has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft lifted their target price on ArcelorMittal from €46.00 ($49.46) to €48.00 ($51.61) in a research report on Thursday, April 14th. AlphaValue raised ArcelorMittal to a “reduce” rating in a report on Tuesday, February 15th. Credit Suisse Group raised their price target on ArcelorMittal from $42.00 to $50.00 in a report on Tuesday, February 22nd. The Goldman Sachs Group downgraded ArcelorMittal from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 26th. Finally, StockNews.com assumed coverage on ArcelorMittal in a research note on Thursday, March 31st. They issued a “strong-buy” rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ArcelorMittal presently has a consensus rating of “Buy” and a consensus price target of $41.32.

NYSE:MT opened at $32.47 on Friday. ArcelorMittal has a 12-month low of $26.59 and a 12-month high of $37.87. The company has a current ratio of 1.45, a quick ratio of 0.62 and a debt-to-equity ratio of 0.13. The firm has a market cap of $30.45 billion, a PE ratio of 2.41 and a beta of 2.00. The stock has a fifty day moving average price of $31.51 and a 200 day moving average price of $31.62.

Institutional investors and hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. grew its position in shares of ArcelorMittal by 320.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 909 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 693 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of ArcelorMittal by 82.3% in the 4th quarter. BNP Paribas Arbitrage SA now owns 1,353 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 611 shares in the last quarter. National Bank of Canada FI acquired a new position in shares of ArcelorMittal in the 4th quarter worth approximately $46,000. Bessemer Group Inc. grew its position in shares of ArcelorMittal by 42.8% in the 4th quarter. Bessemer Group Inc. now owns 2,026 shares of the basic materials company’s stock worth $64,000 after acquiring an additional 607 shares in the last quarter. Finally, Assetmark Inc. grew its position in shares of ArcelorMittal by 299.3% in the 3rd quarter. Assetmark Inc. now owns 3,342 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 2,505 shares in the last quarter. Institutional investors own 44.75% of the company’s stock.

The company also recently disclosed an annual dividend, which will be paid on Friday, June 10th. Investors of record on Monday, May 16th will be issued a $0.38 dividend. This is a positive change from ArcelorMittal’s previous annual dividend of $0.30. This represents a yield of 1.8%. The ex-dividend date is Friday, May 13th. ArcelorMittal’s payout ratio is currently 1.86%.

ArcelorMittal Company Profile (Get Rating)

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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