Zacks: Analysts Anticipate ArcelorMittal (NYSE:MT) to Announce $4.63 EPS

Equities analysts expect that ArcelorMittal (NYSE:MT) will report earnings of $4.63 per share for the current quarter, according to Zacks. Two analysts have made estimates for ArcelorMittal’s earnings, with the lowest EPS estimate coming in at $4.41 and the highest estimate coming in at $4.85. ArcelorMittal posted earnings of ($0.15) per share during the same quarter last year, which would suggest a positive year over year growth rate of 3,186.7%. The business is scheduled to report its next earnings results on Thursday, November 4th.

On average, analysts expect that ArcelorMittal will report full year earnings of $12.90 per share for the current year, with EPS estimates ranging from $11.85 to $14.39. For the next fiscal year, analysts anticipate that the firm will report earnings of $9.42 per share, with EPS estimates ranging from $5.00 to $13.89. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow ArcelorMittal.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Thursday, July 29th. The basic materials company reported $3.46 EPS for the quarter, topping the consensus estimate of $2.70 by $0.76. ArcelorMittal had a net margin of 11.49% and a return on equity of 15.22%. The company had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $19.67 billion.

Several research firms recently weighed in on MT. UBS Group reissued a “buy” rating on shares of ArcelorMittal in a research note on Monday, July 19th. Credit Suisse Group reissued a “neutral” rating on shares of ArcelorMittal in a research note on Monday, June 7th. Morgan Stanley reissued an “overweight” rating on shares of ArcelorMittal in a research note on Tuesday, August 3rd. JPMorgan Chase & Co. reissued an “overweight” rating on shares of ArcelorMittal in a research note on Friday, July 30th. Finally, Deutsche Bank Aktiengesellschaft raised shares of ArcelorMittal to a “buy” rating and lifted their price objective for the stock from $47.00 to $55.00 in a research note on Wednesday. They noted that the move was a valuation call. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $32.98.

Institutional investors and hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. acquired a new position in ArcelorMittal during the first quarter worth $30,000. Maverick Capital Ltd. acquired a new position in shares of ArcelorMittal in the second quarter valued at $36,000. Atlas Capital Advisors LLC increased its holdings in shares of ArcelorMittal by 451.4% in the second quarter. Atlas Capital Advisors LLC now owns 1,213 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 993 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of ArcelorMittal in the second quarter valued at $47,000. Finally, Ameritas Investment Company LLC acquired a new position in shares of ArcelorMittal in the first quarter valued at $54,000. Institutional investors and hedge funds own 6.79% of the company’s stock.

Shares of NYSE:MT traded down $1.48 during trading on Friday, hitting $31.88. 5,903,493 shares of the company’s stock were exchanged, compared to its average volume of 4,784,332. ArcelorMittal has a 1-year low of $11.84 and a 1-year high of $36.58. The firm has a 50-day moving average price of $33.45 and a two-hundred day moving average price of $31.17. The company has a current ratio of 1.28, a quick ratio of 0.57 and a debt-to-equity ratio of 0.14. The firm has a market cap of $32.27 billion, a P/E ratio of 5.16, a PEG ratio of 1.70 and a beta of 1.99.

About ArcelorMittal

ArcelorMittal SA is a holding company, which engages in steelmaking and mining activities. It operates through the following business segments: NAFTA, Brazil, Europe, Africa and Commonwealth of Independent States (ACIS), Mining, and Others. The NAFTA segment consists of flat products such as slabs, hot-rolled coil, cold-rolled coil, coated steel, and plate.

Featured Article: What are high-yield dividend stocks?

Get a free copy of the Zacks research report on ArcelorMittal (MT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for ArcelorMittal (NYSE:MT)

Receive News & Ratings for ArcelorMittal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcelorMittal and related companies with MarketBeat.com's FREE daily email newsletter.