Oct 10, 2023

Analysts Set Expectations for ArcelorMittal S.A.'s Q4 2023 Earnings (NYSE:MT)

ArcelorMittal S.A. (NYSE:MT - Free Report) - Equities research analysts at KeyCorp lifted their Q4 2023 EPS estimates for shares of ArcelorMittal in a research report issued to clients and investors on Thursday, July 27th. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings per share of $0.32 for the quarter, up from their prior estimate of $0.30. The consensus estimate for ArcelorMittal's current full-year earnings is $4.65 per share. KeyCorp also issued estimates for ArcelorMittal's FY2024 earnings at $3.55 EPS.

ArcelorMittal (NYSE:MT - Get Free Report) last posted its earnings results on Wednesday, July 26th. The basic materials company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.39. The firm had revenue of $18.61 billion during the quarter, compared to analyst estimates of $17.41 billion. ArcelorMittal had a net margin of 5.77% and a return on equity of 10.00%. The business's quarterly revenue was down 16.0% on a year-over-year basis. During the same period in the previous year, the firm earned $4.24 EPS.

Several other equities analysts have also weighed in on MT. began coverage on shares of ArcelorMittal in a report on Thursday, May 18th. They set a "buy" rating for the company. Barclays lowered shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a report on Monday, April 3rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.68.

NYSE:MT opened at $28.10 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.57 and a quick ratio of 0.70. The firm has a market cap of $22.63 billion, a price-to-earnings ratio of 5.76 and a beta of 1.90. The company has a 50 day moving average price of $27.11 and a 200-day moving average price of $28.49. ArcelorMittal has a 1-year low of $19.25 and a 1-year high of $32.49.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its holdings in shares of ArcelorMittal by 6.1% during the first quarter. Fifth Third Bancorp now owns 7,029 shares of the basic materials company's stock worth $212,000 after buying an additional 403 shares in the last quarter. Wetherby Asset Management Inc. grew its holdings in shares of ArcelorMittal by 3.7% in the first quarter. Wetherby Asset Management Inc. now owns 11,474 shares of the basic materials company's stock valued at $367,000 after purchasing an additional 411 shares during the period. First Trust Direct Indexing L.P. grew its holdings in shares of ArcelorMittal by 3.2% in the first quarter. First Trust Direct Indexing L.P. now owns 15,258 shares of the basic materials company's stock valued at $460,000 after purchasing an additional 466 shares during the period. Creative Planning grew its holdings in shares of ArcelorMittal by 6.3% in the second quarter. Creative Planning now owns 9,063 shares of the basic materials company's stock valued at $205,000 after purchasing an additional 540 shares during the period. Finally, Signaturefd LLC grew its holdings in shares of ArcelorMittal by 4.1% in the first quarter. Signaturefd LLC now owns 16,648 shares of the basic materials company's stock valued at $501,000 after purchasing an additional 656 shares during the period. Hedge funds and other institutional investors own 5.24% of the company's stock.

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the Americas, Europe, Asia, and Africa. It offers semi-finished flat products, including 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 consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider ArcelorMittal, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ArcelorMittal wasn't on the list.

While ArcelorMittal currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

MarketBeat's analysts have just released their top five short plays for August 2023. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.