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ArcelorMittal SA (NYSE:MT) Expected to Announce Quarterly Sales of $11.72 Billion

Last updated on Wednesday, September 16, 2020 | 2020 MarketBeat

Analysts expect ArcelorMittal SA (NYSE:MT) to post sales of $11.72 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for ArcelorMittal's earnings, with estimates ranging from $11.41 billion to $12.02 billion. ArcelorMittal reported sales of $16.63 billion in the same quarter last year, which would suggest a negative year over year growth rate of 29.5%. The firm is expected to issue its next quarterly earnings results on Thursday, November 5th.

According to Zacks, analysts expect that ArcelorMittal will report full-year sales of $51.16 billion for the current financial year, with estimates ranging from $49.90 billion to $52.89 billion. For the next financial year, analysts forecast that the firm will report sales of $59.27 billion, with estimates ranging from $56.85 billion to $60.94 billion. Zacks Investment Research's sales calculations are an average based on a survey of sell-side research analysts that cover ArcelorMittal.

ArcelorMittal (NYSE:MT) last issued its earnings results on Thursday, July 30th. The basic materials company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.20. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.40 billion. ArcelorMittal had a negative return on equity of 4.35% and a negative net margin of 7.07%.

A number of research analysts have recently commented on MT shares. Zacks Investment Research lowered ArcelorMittal from a "hold" rating to a "sell" rating and set a $12.00 price objective on the stock. in a report on Thursday, July 23rd. Independent Research raised ArcelorMittal to a "buy" rating and set a $11.00 target price on the stock in a report on Tuesday, May 26th. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of ArcelorMittal in a report on Tuesday, July 14th. Goldman Sachs Group started coverage on ArcelorMittal in a report on Tuesday, July 14th. They issued a "buy" rating on the stock. Finally, Societe Generale raised ArcelorMittal from a "sell" rating to a "hold" rating in a report on Monday, June 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. ArcelorMittal has a consensus rating of "Buy" and an average target price of $14.00.

Shares of NYSE MT opened at $12.90 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.57 and a current ratio of 1.30. The firm has a market cap of $13.06 billion, a price-to-earnings ratio of -3.23 and a beta of 2.10. The business's 50-day simple moving average is $12.07 and its 200-day simple moving average is $10.83. ArcelorMittal has a 52 week low of $6.64 and a 52 week high of $18.89.

Several hedge funds have recently made changes to their positions in MT. Rosenberg Matthew Hamilton bought a new stake in shares of ArcelorMittal in the 2nd quarter worth approximately $52,000. Invesco Ltd. lifted its position in shares of ArcelorMittal by 17.5% in the 1st quarter. Invesco Ltd. now owns 13,934 shares of the basic materials company's stock worth $130,000 after acquiring an additional 2,079 shares during the period. Covenant Partners LLC bought a new position in shares of ArcelorMittal during the 2nd quarter worth approximately $140,000. Wetherby Asset Management Inc. lifted its position in shares of ArcelorMittal by 12.7% during the 1st quarter. Wetherby Asset Management Inc. now owns 16,839 shares of the basic materials company's stock worth $157,000 after buying an additional 1,903 shares during the period. Finally, Natixis Advisors L.P. bought a new position in shares of ArcelorMittal during the 1st quarter worth approximately $212,000. Institutional investors own 5.08% of the company's stock.

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. It operates through five segments: NAFTA, Brazil, Europe, ACIS, and Mining. The company produces finished and semi-finished steel products with various specifications.

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Earnings History and Estimates for ArcelorMittal (NYSE:MT)

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