Zacks: Analysts Expect ArcelorMittal (NYSE:MT) Will Announce Quarterly Sales of $19.67 Billion

Analysts forecast that ArcelorMittal (NYSE:MT) will report sales of $19.67 billion for the current quarter, according to Zacks. Two analysts have provided estimates for ArcelorMittal’s earnings, with estimates ranging from $18.72 billion to $20.61 billion. ArcelorMittal posted sales of $10.98 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 79.1%. The business is scheduled to issue its next earnings results before the market opens on Thursday, July 29th.

According to Zacks, analysts expect that ArcelorMittal will report full-year sales of $70.89 billion for the current fiscal year, with estimates ranging from $62.23 billion to $82.09 billion. For the next financial year, analysts expect that the business will report sales of $67.08 billion, with estimates ranging from $62.59 billion to $77.43 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for ArcelorMittal.

ArcelorMittal (NYSE:MT) last posted its earnings results on Wednesday, May 5th. The basic materials company reported $1.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.36. ArcelorMittal had a return on equity of 5.03% and a net margin of 4.89%. The company had revenue of $16.19 billion for the quarter, compared to analysts’ expectations of $16.09 billion. During the same period last year, the firm earned ($0.56) earnings per share. ArcelorMittal’s quarterly revenue was up 14.2% on a year-over-year basis.

A number of analysts recently commented on the company. Barclays assumed coverage on ArcelorMittal in a research note on Wednesday, July 14th. They issued an “overweight” rating and a $30.89 price target for the company. UBS Group reissued a “buy” rating on shares of ArcelorMittal in a research note on Monday. KeyCorp upped their price target on ArcelorMittal from $33.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, May 10th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of ArcelorMittal in a research note on Thursday, July 8th. Finally, Citigroup reaffirmed a “buy” rating on shares of ArcelorMittal in a research note on Friday, May 7th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. ArcelorMittal currently has a consensus rating of “Buy” and a consensus target price of $29.98.

MT stock traded up $0.19 on Monday, reaching $31.67. The company’s stock had a trading volume of 155,164 shares, compared to its average volume of 3,116,977. The company has a fifty day moving average price of $31.26. ArcelorMittal has a 12-month low of $10.71 and a 12-month high of $33.96. The stock has a market capitalization of $32.05 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 1.85 and a beta of 2.07. The company has a current ratio of 1.27, a quick ratio of 0.72 and a debt-to-equity ratio of 0.20.

The company also recently disclosed an annual dividend, which was paid on Tuesday, June 15th. Shareholders of record on Friday, June 11th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, June 10th. This represents a yield of 0.92%. ArcelorMittal’s dividend payout ratio is currently -32.47%.

A number of large investors have recently added to or reduced their stakes in the business. US Bancorp DE lifted its stake in ArcelorMittal by 5.4% during the 1st quarter. US Bancorp DE now owns 12,467 shares of the basic materials company’s stock valued at $364,000 after acquiring an additional 637 shares during the period. Advisor Partners LLC lifted its stake in ArcelorMittal by 5.0% during the 1st quarter. Advisor Partners LLC now owns 14,229 shares of the basic materials company’s stock valued at $415,000 after acquiring an additional 673 shares during the period. Profund Advisors LLC lifted its stake in ArcelorMittal by 3.7% during the 1st quarter. Profund Advisors LLC now owns 21,114 shares of the basic materials company’s stock valued at $616,000 after acquiring an additional 745 shares during the period. Bessemer Group Inc. bought a new position in ArcelorMittal during the 1st quarter valued at about $30,000. Finally, Mercer Global Advisors Inc. ADV lifted its stake in ArcelorMittal by 7.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 18,159 shares of the basic materials company’s stock valued at $416,000 after acquiring an additional 1,188 shares during the period. Institutional investors and hedge funds own 5.55% 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. The company's principal steel products include semi-finished flat products, such as 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, such as 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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Earnings History and Estimates for ArcelorMittal (NYSE:MT)

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