ArcelorMittal (NYSE:MT) – Research analysts at Jefferies Group upped their FY2018 EPS estimates for shares of ArcelorMittal in a note issued to investors on Thursday. Jefferies Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings of $3.26 per share for the year, up from their prior forecast of $3.22. Jefferies Group has a “Buy” rating and a $34.00 price objective on the stock.

A number of other equities research analysts have also weighed in on MT. Zacks Investment Research lowered shares of ArcelorMittal from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 8th. Cowen and Company restated a “buy” rating and issued a $11.00 price objective on shares of ArcelorMittal in a report on Friday, May 19th. BidaskClub raised shares of ArcelorMittal from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th. ValuEngine raised shares of ArcelorMittal from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Finally, TheStreet raised shares of ArcelorMittal from a “c” rating to a “b-” rating in a research note on Monday, May 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $29.72.

TRADEMARK VIOLATION NOTICE: “Equities Analysts Offer Predictions for ArcelorMittal’s FY2018 Earnings (NYSE:MT)” was published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright law. The correct version of this report can be accessed at https://theolympiareport.com/2017/08/12/equities-analysts-offer-predictions-for-arcelormittals-fy2018-earnings-nysemt-updated.html.

ArcelorMittal (NYSE:MT) traded down 1.70% during trading on Monday, reaching $25.42. 4,679,136 shares of the company were exchanged. The firm’s 50-day moving average is $23.42 and its 200 day moving average is $24.04. ArcelorMittal has a one year low of $16.14 and a one year high of $28.11. The company has a market capitalization of $25.93 billion, a P/E ratio of 8.00 and a beta of 2.08.

ArcelorMittal (NYSE:MT) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.55. The business had revenue of $17.24 billion during the quarter, compared to analysts’ expectations of $16.88 billion. ArcelorMittal had a net margin of 5.50% and a return on equity of 10.52%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 EPS.

A number of institutional investors have recently bought and sold shares of MT. Nepsis Capital Management Inc. bought a new position in ArcelorMittal during the first quarter valued at about $6,325,000. Highland Capital Management LLC boosted its position in ArcelorMittal by 16.1% in the first quarter. Highland Capital Management LLC now owns 54,625 shares of the basic materials company’s stock valued at $456,000 after buying an additional 7,590 shares in the last quarter. Bank of Montreal Can boosted its position in ArcelorMittal by 7.8% in the first quarter. Bank of Montreal Can now owns 22,020 shares of the basic materials company’s stock valued at $184,000 after buying an additional 1,599 shares in the last quarter. Capstone Asset Management Co. boosted its position in ArcelorMittal by 2.5% in the first quarter. Capstone Asset Management Co. now owns 148,211 shares of the basic materials company’s stock valued at $1,238,000 after buying an additional 3,680 shares in the last quarter. Finally, Profund Advisors LLC boosted its position in ArcelorMittal by 51.0% in the first quarter. Profund Advisors LLC now owns 127,974 shares of the basic materials company’s stock valued at $1,069,000 after buying an additional 43,197 shares in the last quarter. Institutional investors and hedge funds own 9.45% of the company’s stock.

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.

Earnings History and Estimates for ArcelorMittal (NYSE:MT)

Receive News & Ratings for ArcelorMittal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcelorMittal and related companies with Analyst Ratings Network's FREE daily email newsletter.