In the last trading session, 3,210,000,000 shares of the ArcelorMittal (NYSE:MT) were traded, and its beta was 2.12. Most recently the company’s share price was $29.16, and it changed around -$1.13 or -0.04% from the last close, which brings the market valuation of the company to $29.05 Billion. MT currently trades at a discount to its 52-week high of $29.81, offering almost -2.23% off that amount. The share price’s 52-week low was $7.58, which indicates that the current value has risen by an impressive 74.01% since then. We note from ArcelorMittal’s average daily trading volume that its 10-day average is 6.71 Million shares, with the 3-month average coming to 5.87 Million.
ArcelorMittal stock received a consensus recommendation rating of Buy, based on a mean score of 1.8. If we narrow it down even further, the data shows that none out of 20 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 2 recommended MT as a Hold, whereas 15 deemed it a Buy, and no one rated it as Underweight. ArcelorMittal is expected to report earnings per share of $1.57 for the current quarter.
ArcelorMittal (NYSE:MT): Trading Information
Although MT has showed a red trend with a performance of -3.73% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $30.46 on Monday, Apr 05 increased the stock’s daily price by 4.27%. The company’s shares are currently up 0.27% year-to-date, but still up 0.0392 over the last five days. On the other hand, ArcelorMittal (NYSE:MT) is 0.19% up in the 30-day period. We can see from the shorts that 6.96 Million shares have been sold at a short interest cover period of 1.19 day (s).
The consensus price target as assigned by Wall Street analysts is $33.08, which translates to bears needing to increase their stock price by 13.44% from its current value. Analyst projections state that MT is forecast to be at a low of $27 and a high of $41.74. In order for the stock price to hit the forecast high, the stock would need to surge +43.14% from its current level, while the stock would need to crash -7.41% from its current level to reach the projected low.
ArcelorMittal (MT) projections and forecasts
ArcelorMittal share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +111.92 percent over the past six months and at a -832.47% annual growth rate that is well below the industry average of 14.3%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +380.4% in revenue this quarter, and will report an increase of 823.3% in the next quarter. The year-over-year growth rate is expected to be 13.9%, up from the previous year.
Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $15.96 Billion in revenue for the current quarter. 2 analysts expect ArcelorMittal to make $16.53 Billion in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $14.84 Billion and $10.65 Billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 7.5%. Forecasts for the next quarter put sales growth at 55.2%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 42%. ArcelorMittal earnings are expected to increase by 73.5% in 2021, but the outlook is negative 0% per year for the next five years.
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ArcelorMittal (NYSE:MT)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 0% of ArcelorMittal shares, and 4.45% of them are in the hands of institutional investors. The stock currently has a share float of 4.45%. ArcelorMittal stock is held by 183 institutions, with Arrowstreet Capital, Limited Partnership being the largest institutional investor. By Dec 30, 2020, it held 0.37% of the shares, which is about 4.03 Million shares worth $92.39 Million.
FMR, LLC, with 0.36% or 3.94 Million shares worth $90.12 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Legg Mason Clearbridge Appreciation Fd and Fidelity Value Fund were the top two Mutual Funds as of Jan 30, 2021. The former held 2463527 shares worth $53.19 Million, making up 0.22% of all outstanding shares. On the other hand, Fidelity Value Fund held roughly 1.34 Million shares worth around $31.16 Million, which represents about 0.12% of the total shares outstanding.