The Equities Analysts Offer Predictions for ArcelorMittal SA's FY2018 Earnings (MT)

Mae Love
November 11, 2017

The world's largest steelmaker ArcelorMittal today posted a marginal 1.4 per cent rise in operating profit at Dollars 1.92 billion for the third quarter to September on the back of higher sales. For the last period, the company reported quarter over quarter EPS growth of 14.80% and quarter over quarter sales growth of 17.00%.

Sell-side analysts have also provided a consensus recommendation of 2.30 on company shares. ArcelorMittal had a return on equity of 10.52% and a net margin of 5.50%.

While looking at the Stock's Performance, ArcelorMittal now shows a Weekly Performance of -4.67%, where Monthly Performance is 6.35%, Quarterly performance is 9.11%, 6 Months performance is 29.07% and yearly performance percentage is 34.82%.

He pointed to operating earnings over the first nine months of the year, which rose by 36 percent from the same period last year to almost $6.3 billion.

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ArcelorMittal (NYSE:MT) traded up $0.99 during midday trading on Monday, reaching $29.14. 7,300,996 shares of the stock traded hands, compared to its average volume of 4,090,000. ArcelorMittal has a 52 week low of $19.59 and a 52 week high of $30.50. The relative volume (ratio between current volume and 3-month average) is presently sitting at 1.49. The firm has a market capitalization of $29,800.00, a P/E ratio of 8.38 and a beta of 2.18.

ArcelorMittal also said it would cooperate fully with a recently announced European Commission antitrust investigation into its proposed takeover of Ilva's Italian steelworks. BidaskClub downgraded ArcelorMittal from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Zacks Investment Research now has $33.00 price target on the basic materials company's stock. If you happen to be reading this article on another website, it was stolen and illegally republished in violation of USA and global copyright law.

"Favorable market conditions have supported another solid quarterly performance", chief executive Lakshmi Mittal said in a statement. The legal version of this piece of content can be viewed at https://baseballnewssource.com/markets/zacks-investment-research-upgrades-arcelormittal-mt-to-buy/1762919.html. Verition Fund Management LLC's holdings in ArcelorMittal were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

The company now has an insider ownership of 44.8 Percent and Institutional ownership of 3.4 Percent. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.

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