ArcelorMittal SA (NYSE:MT) has received an average recommendation of “Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $36.50.
A number of equities analysts have weighed in on the company. ValuEngine raised ArcelorMittal from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Credit Suisse Group reissued a “buy” rating on shares of ArcelorMittal in a research report on Thursday, May 31st. Deutsche Bank reissued a “buy” rating on shares of ArcelorMittal in a research report on Monday, June 4th. Jefferies Financial Group restated a “buy” rating on shares of ArcelorMittal in a report on Wednesday, June 6th. Finally, Citigroup restated a “buy” rating on shares of ArcelorMittal in a report on Thursday, July 12th.
Several hedge funds have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. bought a new stake in ArcelorMittal during the second quarter worth $123,000. Financial Gravity Wealth Inc. bought a new stake in ArcelorMittal during the first quarter worth $184,000. Mount Yale Investment Advisors LLC bought a new stake in ArcelorMittal during the first quarter worth $185,000. O Shaughnessy Asset Management LLC bought a new stake in ArcelorMittal during the first quarter worth $192,000. Finally, Canandaigua National Bank & Trust Co. bought a new stake in ArcelorMittal during the first quarter worth $221,000. Institutional investors and hedge funds own 3.45% of the company’s stock.
NYSE:MT opened at $29.39 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.60 and a current ratio of 1.38. The stock has a market capitalization of $29.93 billion, a P/E ratio of 5.50, a P/E/G ratio of 1.09 and a beta of 2.32. ArcelorMittal has a 52-week low of $24.74 and a 52-week high of $37.50.
ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.28. The firm had revenue of $20 billion for the quarter, compared to the consensus estimate of $20.25 billion. ArcelorMittal had a return on equity of 12.62% and a net margin of 7.11%. The business’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 earnings per share. analysts anticipate that ArcelorMittal will post 5.59 earnings per share for the current year.
ArcelorMittal Company Profile
ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through NAFTA, Brazil, Europe, ACIS, and Mining segments. The company produces finished and semi-finished steel products with various specifications.
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