KeyBanc analyst Philip Gibbs maintained a Buy rating on ArcelorMittal (NYSE:MT) on Friday, setting a price target of $40, which is approximately 13.86% above the present share price of $35.13.
Gibbs expects ArcelorMittal to post earnings per share (EPS) of $1.94 for the third quarter of 2021.
The current consensus among 6 TipRanks analysts is for a Strong Buy rating of shares in ArcelorMittal, with an average price target of $43.28.
The analysts price targets range from a high of $47.52 to a low of $37.
In its latest earnings report, released on 03/31/2021, the company reported a quarterly revenue of $16.19 billion and a net profit of $2.64 billion. The company's market cap is $35.86 billion.
According to TipRanks.com, KeyBanc analyst Philip Gibbs is currently ranked with 4 stars on a 0-5 stars ranking scale, with an average return of 16.2% and a 56.25% success rate.
ArcelorMittal is the world’s largest steel manufacturer and mining company, with operations in North and South America, Europe, Asia and Africa. It produces several types of steel products that caters to the needs of a broad range of industries including the automotive, engineering, construction, energy, appliance, and machinery businesses. The company also owns and operates iron ore and coal mining facilities across several countries.