ArcelorMittal SA (NYSE:MT) – Research analysts at Jefferies Group dropped their FY2017 earnings per share estimates for shares of ArcelorMittal in a research note issued on Tuesday. Jefferies Group analyst S. Rosenfeld now forecasts that the basic materials company will post earnings of $4.25 per share for the year, down from their previous estimate of $4.27. Jefferies Group has a “Buy” rating and a $42.00 price target on the stock. Jefferies Group also issued estimates for ArcelorMittal’s FY2018 earnings at $4.31 EPS and FY2019 earnings at $4.04 EPS.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Friday, November 10th. The basic materials company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.32. The firm had revenue of $17.64 billion during the quarter, compared to analyst estimates of $17.08 billion. ArcelorMittal had a net margin of 6.04% and a return on equity of 11.57%. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.22 EPS.

MT has been the subject of several other reports. Cowen upped their target price on shares of ArcelorMittal from $27.00 to $32.00 and gave the stock a “market perform” rating in a research report on Monday, November 13th. Bank of America upgraded shares of ArcelorMittal from an “underperform” rating to a “neutral” rating in a research report on Wednesday. Zacks Investment Research lowered shares of ArcelorMittal from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. ValuEngine lowered shares of ArcelorMittal from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 26th. Finally, UBS Group upgraded shares of ArcelorMittal from a “neutral” rating to a “buy” rating in a research report on Friday, October 20th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $35.39.

ArcelorMittal (MT) opened at $35.85 on Thursday. The company has a market cap of $36,660.00, a price-to-earnings ratio of 9.34, a PEG ratio of 0.95 and a beta of 2.21. The company has a current ratio of 1.21, a quick ratio of 0.44 and a debt-to-equity ratio of 0.24. ArcelorMittal has a 1 year low of $19.59 and a 1 year high of $35.94.

A number of institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC lifted its stake in ArcelorMittal by 24.9% in the second quarter. Quadrant Capital Group LLC now owns 7,412 shares of the basic materials company’s stock worth $157,000 after purchasing an additional 1,479 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in ArcelorMittal by 6.6% in the third quarter. Bank of New York Mellon Corp now owns 50,354 shares of the basic materials company’s stock worth $1,297,000 after purchasing an additional 3,120 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in ArcelorMittal by 9.4% in the third quarter. Envestnet Asset Management Inc. now owns 53,969 shares of the basic materials company’s stock worth $1,390,000 after purchasing an additional 4,616 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in ArcelorMittal by 2.4% in the third quarter. JPMorgan Chase & Co. now owns 195,759 shares of the basic materials company’s stock worth $4,988,000 after purchasing an additional 4,668 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in ArcelorMittal by 37.2% in the third quarter. Jennison Associates LLC now owns 22,400 shares of the basic materials company’s stock worth $577,000 after purchasing an additional 6,073 shares during the last quarter. 4.11% of the stock is owned by institutional investors and hedge funds.

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About ArcelorMittal

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.

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