ArcelorMittal (NYSE:MT) was downgraded by stock analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued to investors on Friday.
MT has been the subject of a number of other research reports. Cowen and Company lifted their target price on shares of ArcelorMittal from $27.00 to $32.00 and gave the stock a “market perform” rating in a research report on Monday. BidaskClub cut shares of ArcelorMittal from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. ValuEngine cut shares of ArcelorMittal from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 26th. UBS AG upgraded shares of ArcelorMittal from a “neutral” rating to a “buy” rating in a research report on Friday, October 20th. Finally, Zacks Investment Research upgraded shares of ArcelorMittal from a “hold” rating to a “strong-buy” rating and set a $29.00 target price for the company in a research report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $33.55.
Shares of ArcelorMittal (MT) traded down $0.12 on Friday, reaching $29.02. 3,973,600 shares of the company’s stock were exchanged, compared to its average volume of 5,858,347. The company has a current ratio of 1.23, a quick ratio of 0.42 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $29,610.00, a PE ratio of 7.32 and a beta of 2.18. ArcelorMittal has a one year low of $19.59 and a one year high of $30.50.
ArcelorMittal (NYSE:MT) last announced its earnings results on Friday, November 10th. The basic materials company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.32. The company had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $17.08 billion. ArcelorMittal had a net margin of 6.04% and a return on equity of 11.94%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 earnings per share. research analysts predict that ArcelorMittal will post 3.3 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of MT. Quadrant Capital Group LLC increased its position in ArcelorMittal by 24.9% during the second quarter. Quadrant Capital Group LLC now owns 7,412 shares of the basic materials company’s stock worth $157,000 after purchasing an additional 1,479 shares during the last quarter. Rathbone Brothers plc acquired a new position in ArcelorMittal during the third quarter worth approximately $202,000. Sawtooth Solutions LLC acquired a new position in ArcelorMittal during the second quarter worth approximately $206,000. Campbell & CO Investment Adviser LLC acquired a new position in ArcelorMittal during the third quarter worth approximately $228,000. Finally, SG Americas Securities LLC acquired a new position in ArcelorMittal during the third quarter worth approximately $229,000. 3.62% of the stock is owned by hedge funds and other institutional investors.
ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.
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