Brokers Issue Forecasts for ArcelorMittal SA’s FY2017 Earnings (MT)

ArcelorMittal SA (NYSE:MT) – Equities research analysts at Jefferies Group lifted their FY2017 EPS estimates for ArcelorMittal SA in a research report issued to clients and investors on Monday. Jefferies Group analyst S. Rosenfeld now expects that the basic materials company will earn $1.12 per share for the year, up from their previous estimate of $0.90. Jefferies Group currently has a “Buy” rating and a $10.50 target price on the stock.

Other equities analysts also recently issued research reports about the stock. Credit Suisse Group AG set a $15.00 price objective on shares of ArcelorMittal SA and gave the company a “buy” rating in a research note on Saturday, March 25th. Zacks Investment Research downgraded shares of ArcelorMittal SA from a “buy” rating to a “hold” rating in a research note on Tuesday, March 21st. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ArcelorMittal SA in a research note on Tuesday, January 31st. Goldman Sachs Group Inc upgraded shares of ArcelorMittal SA from a “neutral” rating to a “conviction-buy” rating in a research note on Thursday, February 2nd. Finally, Bank of America Corp upgraded shares of ArcelorMittal SA from a “neutral” rating to a “buy” rating in a research note on Friday, February 10th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. ArcelorMittal SA has an average rating of “Buy” and an average price target of $8.76.

Earnings History and Estimates for ArcelorMittal SA (NYSE:MT)

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ArcelorMittal SA (NYSE:MT) opened at 7.67 on Wednesday. The company has a 50-day moving average price of $7.84 and a 200-day moving average price of $7.97. The stock has a market cap of $23.46 billion, a price-to-earnings ratio of 12.37 and a beta of 2.06. ArcelorMittal SA has a 52 week low of $4.18 and a 52 week high of $9.37. ArcelorMittal SA’s stock is scheduled to reverse split on Monday, May 22nd. The 1-3 reverse split was announced on Thursday, May 11th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, May 19th.

ArcelorMittal SA (NYSE:MT) last issued its earnings results on Friday, May 12th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.06. The company had revenue of $16.09 billion during the quarter, compared to analyst estimates of $16.81 billion. ArcelorMittal SA had a return on equity of 6.88% and a net margin of 3.13%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.23) EPS.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tide Point Capital Management LP boosted its position in ArcelorMittal SA by 85.1% in the fourth quarter. Tide Point Capital Management LP now owns 8,330,860 shares of the basic materials company’s stock valued at $60,815,000 after buying an additional 3,830,860 shares in the last quarter. Renaissance Technologies LLC boosted its position in ArcelorMittal SA by 311.2% in the first quarter. Renaissance Technologies LLC now owns 4,760,754 shares of the basic materials company’s stock valued at $39,755,000 after buying an additional 3,603,075 shares in the last quarter. Credit Suisse AG boosted its position in ArcelorMittal SA by 2,724.4% in the first quarter. Credit Suisse AG now owns 4,540,212 shares of the basic materials company’s stock valued at $37,910,000 after buying an additional 4,379,463 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in ArcelorMittal SA by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,756,562 shares of the basic materials company’s stock valued at $31,367,000 after buying an additional 97,928 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in ArcelorMittal SA by 11,710.2% in the fourth quarter. Two Sigma Investments LP now owns 2,992,587 shares of the basic materials company’s stock valued at $21,846,000 after buying an additional 2,967,248 shares in the last quarter. 3.46% of the stock is owned by hedge funds and other institutional investors.

About ArcelorMittal SA

ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.

5 Day Chart for NYSE:MT

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