Jefferies Group Research Analysts Decrease Earnings Estimates for ArcelorMittal SA (MT)

ArcelorMittal SA (NYSE:MT) – Equities researchers at Jefferies Group reduced their FY2018 earnings per share estimates for shares of ArcelorMittal in a research note issued on Thursday. Jefferies Group analyst S. Rosenfeld now expects that the basic materials company will earn $3.61 per share for the year, down from their prior forecast of $4.31. Jefferies Group has a “Buy” rating and a $42.00 price objective on the stock. Jefferies Group also issued estimates for ArcelorMittal’s FY2019 earnings at $3.32 EPS.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Wednesday, January 31st. The basic materials company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.21. ArcelorMittal had a return on equity of 12.03% and a net margin of 6.65%. The business had revenue of $17.71 billion during the quarter, compared to the consensus estimate of $18.34 billion. During the same period in the prior year, the company earned $0.39 EPS.

Several other equities analysts also recently commented on MT. ValuEngine upgraded ArcelorMittal from a “buy” rating to a “strong-buy” rating in a research report on Friday. Bank of America upgraded ArcelorMittal from an “underperform” rating to a “neutral” rating in a research report on Wednesday, January 10th. Cowen increased their target price on ArcelorMittal from $27.00 to $32.00 and gave the company a “market perform” rating in a research report on Monday, November 13th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of ArcelorMittal in a research report on Friday, January 26th. Finally, Zacks Investment Research downgraded ArcelorMittal from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $36.89.

Shares of ArcelorMittal (MT) opened at $34.26 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. ArcelorMittal has a 1 year low of $19.59 and a 1 year high of $37.50. The firm has a market capitalization of $35,530.00, a price-to-earnings ratio of 7.68, a P/E/G ratio of 0.66 and a beta of 2.32.

A number of institutional investors have recently bought and sold shares of the business. Jane Street Group LLC increased its stake in shares of ArcelorMittal by 174.4% in the third quarter. Jane Street Group LLC now owns 267,704 shares of the basic materials company’s stock valued at $6,896,000 after buying an additional 627,661 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of ArcelorMittal by 32.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,341,298 shares of the basic materials company’s stock valued at $60,312,000 after buying an additional 567,841 shares during the period. State Street Corp acquired a new stake in shares of ArcelorMittal in the second quarter valued at about $8,658,000. Cambiar Investors LLC increased its stake in shares of ArcelorMittal by 4.7% in the third quarter. Cambiar Investors LLC now owns 5,283,658 shares of the basic materials company’s stock valued at $136,107,000 after buying an additional 237,033 shares during the period. Finally, Alpine Woods Capital Investors LLC increased its stake in shares of ArcelorMittal by 71.3% in the third quarter. Alpine Woods Capital Investors LLC now owns 531,000 shares of the basic materials company’s stock valued at $13,679,000 after buying an additional 221,001 shares during the period. Hedge funds and other institutional investors own 4.11% of the company’s stock.

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ArcelorMittal Company Profile

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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