ArcelorMittal S.A. (NYSE:MT) Expected to Post Quarterly Sales of $22.50 Billion

Wall Street brokerages predict that ArcelorMittal S.A. (NYSE:MT – Get Rating) will announce sales of $22.50 billion for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for ArcelorMittal’s earnings, with estimates ranging from $22.37 billion to $22.62 billion. ArcelorMittal posted sales of $19.34 billion in the same quarter last year, which indicates a positive year over year growth rate of 16.3%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that ArcelorMittal will report full-year sales of $82.14 billion for the current financial year, with estimates ranging from $80.59 billion to $83.25 billion. For the next fiscal year, analysts expect that the company will report sales of $68.32 billion, with estimates ranging from $65.09 billion to $70.57 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow ArcelorMittal.

ArcelorMittal (NYSE:MT – Get Rating) last released its quarterly earnings data on Thursday, February 10th. The basic materials company reported $3.71 earnings per share for the quarter, topping analysts’ consensus estimates of $3.39 by $0.32. The firm had revenue of $20.81 billion during the quarter, compared to analyst estimates of $19.98 billion. ArcelorMittal had a return on equity of 34.09% and a net margin of 20.43%. The business’s quarterly revenue was up 46.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 earnings per share.

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price target on ArcelorMittal from €48.00 ($50.53) to €49.00 ($51.58) in a research note on Friday, May 6th. Credit Suisse Group increased their price target on ArcelorMittal from $42.00 to $50.00 in a research note on Tuesday, February 22nd. JPMorgan Chase & Co. increased their price target on ArcelorMittal from €43.00 ($45.26) to €48.00 ($50.53) in a research note on Thursday, April 28th. Zacks Investment Research raised ArcelorMittal from a “hold” rating to a “strong-buy” rating and set a $32.00 price target for the company in a research note on Wednesday. Finally, AlphaValue raised ArcelorMittal to a “reduce” rating in a research note on Tuesday, February 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $42.13.

NYSE MT opened at $27.42 on Thursday. The firm has a market cap of $25.71 billion, a price-to-earnings ratio of 1.73 and a beta of 1.92. The company has a quick ratio of 0.62, a current ratio of 1.45 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $30.97 and a 200-day moving average price of $31.43. ArcelorMittal has a twelve month low of $26.59 and a twelve month high of $37.87.

The business also recently disclosed an annual dividend, which will be paid on Friday, June 10th. Stockholders of record on Monday, May 16th will be paid a $0.38 dividend. This represents a dividend yield of 1.8%. This is a positive change from ArcelorMittal’s previous annual dividend of $0.30. The ex-dividend date of this dividend is Friday, May 13th. ArcelorMittal’s dividend payout ratio (DPR) is presently 1.58%.

Several large investors have recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC raised its holdings in shares of ArcelorMittal by 52.0% in the third quarter. Schonfeld Strategic Advisors LLC now owns 641,833 shares of the basic materials company’s stock worth $19,358,000 after buying an additional 219,450 shares during the period. Signaturefd LLC raised its holdings in shares of ArcelorMittal by 83.8% in the fourth quarter. Signaturefd LLC now owns 8,223 shares of the basic materials company’s stock worth $262,000 after buying an additional 3,748 shares during the period. Thomas White International Ltd. purchased a new stake in shares of ArcelorMittal in the third quarter worth approximately $1,861,000. O Shaughnessy Asset Management LLC raised its holdings in shares of ArcelorMittal by 9,294.2% in the third quarter. O Shaughnessy Asset Management LLC now owns 30,719 shares of the basic materials company’s stock worth $926,000 after buying an additional 30,392 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of ArcelorMittal by 57.8% in the third quarter. Royal Bank of Canada now owns 68,449 shares of the basic materials company’s stock worth $2,064,000 after buying an additional 25,067 shares during the period. 41.79% of the stock is owned by institutional investors and hedge funds.

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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