ArcelorMittal S.A. (NYSE:MT - Get Rating) - Analysts at KeyCorp upped their FY2022 earnings per share estimates for shares of ArcelorMittal in a note issued to investors on Monday, November 21st. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings per share of $10.65 for the year, up from their prior estimate of $10.35. The consensus estimate for ArcelorMittal's current full-year earnings is $10.31 per share. KeyCorp also issued estimates for ArcelorMittal's Q4 2022 earnings at $0.55 EPS and FY2023 earnings at $1.75 EPS.
A number of other equities research analysts have also recently commented on MT. Morgan Stanley dropped their target price on ArcelorMittal from €40.00 ($40.82) to €38.00 ($38.78) and set an "overweight" rating on the stock in a research report on Tuesday, November 15th. StockNews.com upgraded ArcelorMittal from a "hold" rating to a "buy" rating in a research report on Tuesday. UBS Group cut ArcelorMittal from a "buy" rating to a "neutral" rating and set a $20.70 target price on the stock. in a research report on Thursday, October 6th. Deutsche Bank Aktiengesellschaft dropped their target price on ArcelorMittal from €37.00 ($37.76) to €33.00 ($33.67) in a research report on Monday, October 10th. Finally, JPMorgan Chase & Co. raised their target price on ArcelorMittal from €23.50 ($23.98) to €24.50 ($25.00) in a research report on Monday, November 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, ArcelorMittal currently has an average rating of "Hold" and a consensus target price of $35.20.
ArcelorMittal Price Performance
NYSE:MT opened at $26.37 on Thursday. ArcelorMittal has a 52 week low of $19.25 and a 52 week high of $37.87. The company has a quick ratio of 0.70, a current ratio of 1.62 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $24.73 billion, a PE ratio of 1.95 and a beta of 1.90. The stock's 50-day moving average price is $22.59 and its 200-day moving average price is $24.48.
Institutional Investors Weigh In On ArcelorMittal
Several institutional investors have recently bought and sold shares of MT. Tower Research Capital LLC TRC acquired a new position in shares of ArcelorMittal during the 3rd quarter worth approximately $28,000. Wipfli Financial Advisors LLC acquired a new position in shares of ArcelorMittal during the 3rd quarter worth approximately $42,000. Captrust Financial Advisors boosted its holdings in shares of ArcelorMittal by 166.1% during the 1st quarter. Captrust Financial Advisors now owns 1,381 shares of the basic materials company's stock worth $44,000 after purchasing an additional 862 shares during the last quarter. Prospera Financial Services Inc acquired a new position in shares of ArcelorMittal during the 1st quarter worth approximately $45,000. Finally, Elequin Capital LP acquired a new position in shares of ArcelorMittal during the 1st quarter worth approximately $79,000. 10.00% of the stock is currently owned by institutional investors and hedge funds.
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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