Zacks: Brokerages Expect ArcelorMittal (NYSE:MT) to Post $2.70 EPS

Equities research analysts expect that ArcelorMittal (NYSE:MT) will report earnings of $2.70 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for ArcelorMittal’s earnings. ArcelorMittal reported earnings of ($0.30) per share during the same quarter last year, which would indicate a positive year over year growth rate of 1,000%. The business is expected to report its next quarterly earnings results before the market opens on Thursday, July 29th.

On average, analysts expect that ArcelorMittal will report full year earnings of $10.66 per share for the current fiscal year, with EPS estimates ranging from $8.82 to $11.86. For the next year, analysts anticipate that the business will report earnings of $7.69 per share, with EPS estimates ranging from $4.60 to $11.09. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover ArcelorMittal.

ArcelorMittal (NYSE:MT) last announced its earnings results on Wednesday, May 5th. The basic materials company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.36. ArcelorMittal had a return on equity of 5.03% and a net margin of 4.89%. The firm had revenue of $16.19 billion for the quarter, compared to the consensus estimate of $16.09 billion. During the same quarter in the previous year, the business earned ($0.56) EPS. The company’s revenue was up 14.2% compared to the same quarter last year.

Several research firms recently commented on MT. KeyCorp upped their price objective on ArcelorMittal from $33.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, May 10th. Deutsche Bank Aktiengesellschaft upped their price objective on ArcelorMittal from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, June 29th. Morgan Stanley reissued an “overweight” rating on shares of ArcelorMittal in a report on Thursday, July 8th. Credit Suisse Group reissued a “neutral” rating on shares of ArcelorMittal in a report on Monday, June 7th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of ArcelorMittal in a report on Thursday, July 8th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $29.98.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE grew its stake in shares of ArcelorMittal by 5.4% in the first quarter. US Bancorp DE now owns 12,467 shares of the basic materials company’s stock worth $364,000 after purchasing an additional 637 shares during the last quarter. Advisor Partners LLC lifted its holdings in shares of ArcelorMittal by 5.0% during the first quarter. Advisor Partners LLC now owns 14,229 shares of the basic materials company’s stock valued at $415,000 after purchasing an additional 673 shares during the last quarter. Profund Advisors LLC raised its holdings in ArcelorMittal by 3.7% in the 1st quarter. Profund Advisors LLC now owns 21,114 shares of the basic materials company’s stock worth $616,000 after acquiring an additional 745 shares during the last quarter. Bessemer Group Inc. purchased a new position in ArcelorMittal in the 1st quarter worth approximately $30,000. Finally, Mercer Global Advisors Inc. ADV raised its holdings in ArcelorMittal by 7.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 18,159 shares of the basic materials company’s stock worth $416,000 after acquiring an additional 1,188 shares during the last quarter. 5.55% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE MT traded up $0.41 during midday trading on Friday, reaching $31.89. The company’s stock had a trading volume of 162,755 shares, compared to its average volume of 3,116,977. ArcelorMittal has a 12-month low of $10.71 and a 12-month high of $33.96. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.27 and a quick ratio of 0.72. The firm has a 50 day moving average price of $31.26. The firm has a market cap of $32.28 billion, a PE ratio of 14.18, a P/E/G ratio of 1.85 and a beta of 2.07.

The company also recently announced an annual dividend, which was paid on Tuesday, June 15th. Investors of record on Friday, June 11th were paid a $0.30 dividend. The ex-dividend date was Thursday, June 10th. This represents a yield of 0.92%. ArcelorMittal’s dividend payout ratio is presently -32.47%.

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. The company's principal steel products include semi-finished flat products, such as 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, such as 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.

See Also: retirement calculator

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.