Shares of ArcelorMittal (NYSE:MT) have earned a consensus rating of “Buy” from the eighteen ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $32.44.
A number of brokerages have recently commented on MT. BidaskClub cut shares of ArcelorMittal from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Tuesday, July 11th. 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, SBG Securities cut shares of ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Sunday, July 30th.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Investment Consultants LLC purchased a new position in ArcelorMittal during the second quarter worth about $111,000. Quadrant Capital Group LLC boosted its stake 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 buying an additional 1,479 shares during the period. Rathbone Brothers plc purchased a new position in ArcelorMittal during the third quarter worth about $202,000. Sawtooth Solutions LLC purchased a new position in ArcelorMittal during the second quarter worth about $206,000. Finally, Advisor Group Inc. boosted its stake in ArcelorMittal by 160.6% during the second quarter. Advisor Group Inc. now owns 10,147 shares of the basic materials company’s stock worth $230,000 after buying an additional 6,253 shares during the period. 3.59% of the stock is owned by hedge funds and other institutional investors.
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ArcelorMittal (NYSE:MT) traded down 0.03% during trading on Friday, reaching $29.12. 1,158,762 shares of the company traded hands. The firm has a 50-day moving average price of $27.35 and a 200-day moving average price of $24.69. The company has a market capitalization of $29.70 billion, a P/E ratio of 9.16 and a beta of 2.10. ArcelorMittal has a 52 week low of $18.84 and a 52 week high of $30.50.
ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.55. The company had revenue of $17.24 billion during the quarter, compared to analysts’ expectations of $16.88 billion. ArcelorMittal had a net margin of 5.50% and a return on equity of 10.52%. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 earnings per share. Analysts forecast that ArcelorMittal will post $3.30 earnings per share for the current fiscal year.
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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